Uber to close acquired Australian business
23 Aug 2024 - Performance
Ride share company Uber is to close its Carshare business which provides a platform for individuals to let their vehicles for short-term use.
Uber has offered the service since acquiring Australian early-stage company Car Next Door in 2022 for an undisclosed sum reported to be more than $100 million.
Uber has contacted car owners offering use of vehicles through the site to inform them that the platform will close on 12 September.
Uber said the decision also applied to Carshare operations in the US and Canada.
Co-founder of Car Next Door Will Davies has been working for Uber since it acquired the business. The company made no comment on his future.
Davies and David Trumbull founded Car Next Door in 2015. Co-founders of venture capital firm Investible, Trevor Folson and Creel Price, provided seed-funding for the company with members of their Club Investible also investing later.
Uber’s acquisition provided a strong return to Investible investors, Folson said at the time.
Image: Uber will close its Carshare platform on 12 September.