SoftBank-backed Getaround is raising $200M at a $1.5B+ valuation – gpgmail


Getaround, a used car marketplace and winner of gpgmail Disrupt New York Battlefield 2011, will enter the unicorn club with a roughly $200 million equity financing.

The deal values Getaround, founded in 2009, at $1.7 billion, according to an estimate provided by PitchBook. Getaround declined to comment, citing internal policy on “funding speculation.”

“Getaround and our investors work closely together on our growth strategy, and we’ll definitely plan to share more when we’re ready,” a spokesperson said in response to gpgmail’s inquiry Thursday morning.

The news follows the company’s $300 million acquisition of Drivy, a Paris-headquartered car-sharing startup that operates in 170 European cities.

Getaround closed a Series D funding of $300 million last year, a round led by SoftBank with participation from Toyota Motor Corporation. Existing investors in the business, which allows its some 200,000 members to rent and unlock vehicles from their mobile phones at $5 per hour, include Menlo Ventures and SOSV.

Assuming an upcoming $200 million infusion, Getaround has raised more than $600 million in equity funding to date.

Whether SoftBank has participated in Getaround’s latest financing is unknown. The business is an active investor in the carsharing market, with investments in Chinese ride-hailing business Didi Chuxing, Uber and autonomous driving company Cruise. We’ve reached out to SoftBank for comment.

In conversation with gpgmail last year, Getaround co-founder Sam Zaid emphasized SoftBank’s capabilities as a mobility investor: “What we really liked about [SoftBank] was they take a really long view on things,” he said. “So they were very good about thinking about the future of mobility, and we have a common kind of vision of every car becoming a shared car.”

Getaround was expected to expand into international markets with its previous fundraise. Indeed, the company has moved into France, Germany, Spain, Austria, Belgium and the U.K. where it operates under the brand “Drivy by Getaround,” and in Norway under the “Nabobil” brand.

The business initially launched its car-sharing service in 2011, relying on gig workers, who can list their car on the Getaround marketplace for $500 to $1,000 a month in payments, depending on how often their car is rented.

Since Getaround entered the market, however, a number of competitors have entered the space with similar business models. Turo and Maven, for example, have both emerged to facilitate car rental with backing from top venture capital funds.


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LA-based gaming company, Scopely, expands in Spain and Ireland – gpgmail


The Los Angeles-based gaming company, Scopely is expanding its geographical footprint in Spain and Ireland.

The company is building out its Barcelona offices tripling its office space and planning to significantly expand its 100-person-strong team in the city. Meanwhile, Scopely is also planning to invest heavily in expanding its strategy-focused game studio, DIGIT, in Dublin.

Scopely didn’t say how many jobs it would be adding in either location.

The company has now hit lifetime revenue of over $1 billion across its franchises and recently launched Star Trek Fleet Command” and “Looney Tunes World of Mayhem”. Scopely also has licenses to develop games for World Wrestling Entertainment and The Walking Dead franchise.

“We are thrilled to expand our European footprint to accommodate our exponential growth,” said Javier Ferreira, Co-CEO of Scopely, in a statement. “I am excited to further lean in to the Barcelona market, which has top-quality talent. The same is true in Dublin with top tech talent flocking to the area, and both offices have amassed impressive highly-specialized expertise. Our Dublin and Barcelona teams play a critical role in the Scopely journey, and we are actively hiring across both markets.”

The company also plans to double its footprint in its hometown of Los Angeles in 2020.

The company has raised more than $250 million in financing to date from investors including Greenspring Associates, Greycroft Partners, Revolution Growth, Evolution Media Partners, Highland Capital Partners, Horizons Ventures, Sands Capital Ventures, The Chernin Group, Take-Two Interactive, Kobe Bryant, Arnold Schwarzenegger, Peter Guber, Jimmy Iovine, and Brendan Iribe.


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