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.
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