HyreCar Inc. (NASDAQ: HYRE) Offers Mobility as a Service to Rideshare Market

December 12, 2018 12:28:41
  • Mobility as a Service market set to hit $358.35 billion by 2025
  • Ridesharing rental market estimated at 1.25 million drivers and growing
  • 40 percent of aspiring drivers do not own a qualifying car

The growth of urban populations with money to spend on automobiles has made driving a nightmare in some cities. In 2010, for example, a massive traffic jam in China that snaked for 100 kilometers (60 mi) lasted for 5 days or longer. Traffic congestion in America’s big metropolises may never reach that scale but their frequency is just as disturbing. However, digitalization may present a way to avoid such horrible scenarios, says ‘Big Four’ accounting firm Deloitte. Referred to as Mobility as a Service (MaaS) when applied to transport, MaaS “relies on a digital platform that integrates end-to-end trip planning, book­ing, electronic ticketing, and payment services across all modes of transportation, public or private”, exactly what HyreCar Inc. (NASDAQ: HYRE) is offering. The tech company operates a web-based marketplace that allows car and fleet owners to rent their idle cars to Uber and Lyft drivers safely, securely and reliably. On Tuesday, December 11, 2018, company executives presented at the Maxim Group TMT Conference in New York City, introducing investors and others to the brave new world of MaaS (http://nnw.fm/nWZD3).

HyreCar may be in the right place at the right time. A recent report on the MaaS market identifies a number of factors, such as the increasing pressure on transportation infrastructure brought about by…

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