As human beings, we always dream of living a luxury budget life and wandering around the world. But seeing the price and earnings, we think it’s just impossible to go on trips at least, and we can’t buy when we think from the average family. Buy and burn is hectic but when we can rent and have fun on the trip. Zoomcar is a company that provides cars for rent with a self-driven car-sharing platform. Startup leading the market operating in different nations helps rent a car for a few days based on users’ perspectives. Let’s zoom the rental services of Zoomcar.
Start of Zoomcar
Zoomcar setup in 2013 by a David Back & Greg Moran a US returns majorly known as American duo started operation in Bangalore. Duo’s journey began in 2007 when they graduated from the same university of Pennsylvania. Even though there ways departed after graduation one studied at Harvard Law School and Moran worked on energy financing projects. Again circled back in an business school as Moran at the University of Southern California and Back at the Judge Business School at Cambridge University.
When Moran backed to India and wanted to set up Business he started it analysis on the infrastructure of the Indian system. A challenging notion of transport came up because it was not that regulated and easier to break into. And not only having a car actually a better version of self-drive.
Greg Moran – As both co-founders graduated from business school, he joined Summer Associate with Cerberus and worked as an Analyst and Senior Analyst at Fieldstone Private Capital Group Ltd. After two years joined International Power America, Inc. as a Financial Analyst, Business Development. After leaving the previous role, not. Moran soon began to work for Greg Moran Consulting as the Project Finance Consulrole. Co-founded Zoomcar after finishing an MBA from USC Marshall School of Business.
David Back – Both duos have the same passion and career path; they graduated in history and joined Harvard Law School. Further, he continued the MBA program at the University of Cambridge. He started a Summer Research Internship with the American Enterprise Institute and gradually joined as a Teaching Assistant for Mauro Guillen and Brian Spooner at the University of Pennsylvania. As a co-founder and President started Zoomcar in 2013 and, serving for two years, resigned in 2015. currently serves as the Chairman of Tattered Cover Book Store, Inc., since December 2020.
Funding for Zoomcar
Zoomcar started with $215,000 in capital and a fleet of seven cars. Zoomcar’s investors: Mahindra&Mahindra, Ford Motor Company, Sequoia Capital, Nokia Growth Partners, FundersClub, Basset Investment Group, Athene Capital, Empire Angels, OurCrowd, Globevestor, and Cyber Carrier CL.
Zoomcar has also raised money from former Infosys CFO T.V. Mohandas Pai and his business partner Abhay Jain. The most extensive car-sharing services raised around $383.7 Million across 21 funding rounds.
Working of Zoomcar
Zoomcar works with renting a car just by searching based on the model. You must upload the driver’s license and pay a tiny security deposit. Just unlock it and start the checklist in the Zoomcar app. Grab the keys from the glove box, drive, return to the exact location, and fill out the end checklist. To users, it offers Promo Codes FLAT OFF, BHIM UPI Offer, and Cashback On Your Bookings Verified 6. With amigo by Zoomcar, anyone can earn money if you have a car parked without working; here is a video of how that can be done.
Inspiration to IT industry
Being IT express Zoomcar awarded as Top Place to Work, Top Brand Marketing Campaign. Every year several marketing awards such as Excellence in Digital Advertising and Marketing – CIDCA Award, The Best ATL Campaign award at the mCube 2019.
Zoomcar, the largest rental car service company, plans to set out for IPO recognition and expand the service’s diversification over different cities. During Covid time, the business went down but rooted up with technology models and covered. Zoomcar helps with travel and makes trips easier for people to enjoy to the fullest by renting.
Zoomcar net worth?
Zoomcar’s net worth according to 2022 is $5.63 billion
Zoomcar partnered with which companies?
Zoomcar partnered with the auto manufacturers like Ford & Mahindra, which allowed them to become the first car rental company in India to offer an electric vehicle (the Mahindra REVA E2O by Mahindra) and the Ford EcoSport “urban SUV by Ford” in 2013.