Sign up Australia
Proactive Investors - Run By Investors For Investors

Collaborate Corporation expands its partnership with Subaru Australia

The company recently achieved record monthly results for DriveMyCar.
Collaborate Corporation expands its partnership with Subaru Australia
Collaborate is now entering a new stage of growth

Collaborate Corporation (ASX:CL8) will add 105 new 2018 model Subaru XV vehicles for rental through its DriveMyCar platform in September 2017.

DriveMyCar is a peer-to-peer car rental service where owners list their vehicles and renters find and book the vehicles after passing the company’s verification processes.

Collaborate is now expanding its relationship with Subaru Australia, following a highly successful partnership in March 2017 around the launch of the 2017 model Subaru Impreza.

For the launch of the new car, DriveMyCar developed a marketing campaign that built brand awareness and formed a core component of Subaru’s national marketing campaign for the Impreza.

DriveMyCar will now provide “try before you buy” opportunities enabling prospective Subaru customers to rent the new XV vehicle for extended test drives.

More significantly, XV vehicles will also be available for rental by UberX drivers, providing opportunities for UberX passengers to experience the 2018 model XV.

Collaborate recently achieved record monthly results for DriveMyCar in May 2017, driven by the continued momentum in demand across private, rideshare and corporate rentals.

DriveMyCar recorded $273,890 in rental transaction value for May 2017, a 6% increase over the previous month and circa 100% increase compared to May 2016.

Collaborate is now entering a new stage of growth which includes further scaling of its technology platform and leveraging the growing number of strategic partnerships.

The company’s share price increased 70% since the start of 2017, last trading at $0.034.

View full CL8 profile View Profile

Collaborate Corporation Ltd Timeline

Related Articles

ROBO Global US CEO Travis Briggs
August 15 2018
Investors can buy directly into the popular ROBO ETF based on the benchmark index comprised of 87 top robotics, automation and AI companies.
Vault online software in the cloud image
August 08 2018
The company has achieved strong sales on the back of its risk and safety management software systems.
An illustration of the tools Velpic uses in providing education and incident management
March 22 2018
Velpic has just signed its first NowForce client in Australia.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

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