Archive for the ‘Joe Kraus’ Category

Google Ventures & August Capital announce they are funding my current company, RelayRides.

15 December 2010

Since summer, I’ve been interim COO at RelayRides, the world’s first neighbor-to-neighbor carsharing service.  I work for founding CEO Shelby Clark.  Yesterday we announced funding from August Capital and Google Ventures.

RelayRides is an innovative twist on the traditional carsharing model, ala Zipcar.  I believe our business model will have an important impact on the young and rapidly growing $12.5B global carsharing industry. Adding neighbor-to-neighbor carsharing to a community with traditional carsharing is one of those instances when one plus one equals more than two, as detailed here.

RelayRides is a perfect example of Collaborative Consumption. Rather than putting new cars on the road like other carsharing services, RelayRides goes the eco-friendly route by leveraging existing, often idle autos.  Neighbors help each other.  Car owners recover some of the costs of owning an expensive asset while they simultaneously provide a new, convenient transportation option for their neighbors in need of a car.

After operating in Cambridge for six months, Tuesday we launched our second city, San Francisco, generating a slew of great press.

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