Archive for the ‘Person-to-person’ 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.

Share

Advertisements

The secret to a successful startup? A great idea being worked on by people with three characteristics you’ll not find on a resume

11 September 2010

Through the MassChallenge Mentoring Program, I’ve been spending three hours each week advising RelayRides, a company with a great idea – peer-to-peer car sharing – that’s smack in the middle of a strong new movement, Collaborative Consumption as written about in The Economist and by Leigh Buchanan in Inc, Clive Thompson in Wired, and Jenna Wortham in The New York Times.

Late on Tuesday, the founder, Shelby Clark said, “Instead of just advising me, why don’t you just join us to accelerate our growth?” After a handshake agreement, I started that day as part-time interim COO.  By 9 PM I was reminded that what it takes to turn a great idea into a successful company is (more…)