Sign up Australia
Proactive Investors - Run By Investors For Investors

Collaborate Corporation Ltd to offer ride share cars on Uber platform

Collaborate Corporation Ltd to offer ride share cars on Uber platform

Collaborate Corporation Ltd (ASX:CL8) has opened a new market for its vehicle rental service with an agreement to advertise these to UberX ride share driver/partners through Uber Marketplace.

Car owners are using the Collaborate platform to generate income from under utilised vehicles.

While UberX is a portal operated by Uber which offers low cost vehicle solutions.

Collaborate’s DriveMyCar business unit will start advertising ride share vehicle rental services to uberX ride share driver-partners on the Uber Marketplace.

The promotional arrangement with the largest ride share company in the world will allow DriveMyCar to leverage idle vehicles and meet the need for vehicles as demand moves from ownership to access.

Collaborate is focused on three core business segments - peer-to-peer car rental, caravan rental and peer-to-peer ‘rent anything’ platform.

DriveMyCar rental transaction value for May 2016 was $138,000, increasing 52% from May 2015. It was the second highest month recorded to date, behind only the seasonal peak month of December 2015.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.



Register here to be notified of future CL8 Company articles
View full CL8 profile

Collaborate Corporation Timeline

Related Articles

Green pallet
January 11 2017
The company's holistic approach to the supply chain is proving disruptive, and particularly popular with the perishable food industry
shutterstock_302650592_58dc0a99d5fca.jpg
March 30 2017
This week the firm has bolstered its coffers to the tune of over $20mln via a now closed bought deal financing.
bluechiip-andrew-mclelland-presenting-Syd-Mar-2017.png
March 17 2017
Andrew McLellan discussed with investors wiresless tracking technology.

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use