Market Overview

Wheelz Launches Service in San Francisco Offering the City's Largest Instantly Accessible Peer-to-Peer Car Sharing Fleet

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SAN FRANCISCO--(BUSINESS WIRE)--

Wheelz, the first and only peer-to-peer car sharing service that gives you instant access to cars in your neighborhood, announced today its first urban launch in San Francisco. As part of the launch, Wheelz will also host a special “Free Wheelz for a Day” promotion weekend, picking up the tab for new and existing drivers who rent a car, up to 24 hours, from Nov. 2-4.

Wheelz equips every car with DriveBox™ technology that allows drivers to find and unlock any Wheelz car instantly with a smartphone or DriveCard™ instead of a key exchange, making car sharing efficient, accessible and instant for both owners and drivers. The DriveBox hardware, which can be installed in nearly any type of car, also provides the convenience and security of alerting renters and car owners to the vehicle's location via GPS.

“We're introducing San Francisco, a market where mobility services are flourishing, to a smart new way to do peer-to-peer car sharing. Wheelz makes all cars instantly available to drivers and elegantly simple for owners to share,” said Jeff Miller, CEO and founder of Wheelz. “The future is on-demand transportation, and Wheelz offers more instantly accessible cars in San Francisco than all other peer-to-peer services combined.”

Unlike traditional car sharing, which is offered through company-owned vehicles, Wheelz drivers are renting cars from neighbors and friends, utilizing otherwise idle cars that are more readily available right where people live. Drivers receive a gas card to fill up the tank and reliable 24/7 customer service from the Wheelz PitCrew. Additionally, the company's $1 million comprehensive insurance policy protects every Wheelz reservation, including the vehicle, driver and passengers.

The growing San Francisco network offers drivers a wide range of models for an average of $7 to $8 per hour, and drivers can sign up, book a car and drive away within 5 minutes. In fact, more than half of all Wheelz reservations are made within two hours of the time they need a car, and over two-thirds of all drivers are repeat renters. Owners typically earn $200 a month, with some earning as much as $1,000 per month.

“We're seeing an important consumer shift toward on-demand mobility services,” said Scott Griffith, Chairman and CEO of Zipcar, the world's leading car sharing network. “With its innovative technology-driven solution, Wheelz is poised to be a key part of the new mobility society where consumers choose from an array of easy to access, self-service, technology-enabled transportation options.”

Building on a successful campus-based model, Wheelz' urban market expansion follows a $13.7 million Series A round of funding led by investors Zipcar and Bill Ford's Fontinalis Partners, secured in February 2012. To learn more about Wheelz, or to start sharing or renting your car today, visit www.wheelz.com.

About Wheelz

Headquartered in San Francisco, Wheelz is a peer-to-peer car sharing service that gives you instant access to cars near you by connecting people who want to share their cars with people who want to rent them. Through our DriveBoxTM in-car technology and integrated smartphone apps, we provide a simple, efficient car sharing experience for everyone. We aren't reinventing the wheel – just how you use it. Visit www.wheelz.com to sign up today.

Wheelz
Ann Bordetsky
(925) 487-4577
ann@wheelz.com
or
Jenny Corsey, APR
(619) 533-7981
wheelz@allisonpr.com

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