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 Timeline

Related Articles

9 Spokes smart phone screen
April 03 2018
The onboarding rate of small business onto the platform continues to accelerate as banking partners adoption increases.
June 19 2017
Brendan Martin talked underwater drone technology and commercialisation.
Burning wood pellet
April 30 2018
The company said full-year revenue would be a third higher than previously forecast, with fuel demand likely to have risen steeply with the recent UK cold snaps

© 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