WaiveCar Net Worth 2022
WaiveCar is an innovative car-sharing business that offers its customers low-cost, eco-friendly transportation solutions. Based in Santa Monica, California, it offers a range of services such as car-sharing, ride-sharing, and insurance, and enables its customers to shift to more sustainable transportation options. It also sells advertisements across the cars’ exteriors. The service has gained a lot of popularity, and its net worth has reached an estimated $10 million. However, its social media accounts have been silent for a while.
In 2017, WaiveCar was pitched on the show Shark Tank. During the episode, Isaac Deutsch and Zoli Honig requested $500,000 for a two percent equity stake in the company. They were also given a $500,000 loan by Kevin O’Leary. On top of that, they agreed to give him a discount on the advertisements. Their deal was made for a total of 12% interest on a 36-month loan.
After that, they were able to expand to Los Angeles and New York City. Currently, they have a fleet of 19 vehicles in LA and 3 in NYC. Moreover, they have partnered with Hyundai and Chevrolet.
But then, in January 2020, the company decided to suspend its car-sharing services. This was due to an insurance issue. Meanwhile, the founders of WaiveCar, Zoli Honig and Isaac Deutsch, are working on a new venture. Hence, the car-sharing service may be out of business by 2022.
Until now, however, WaiveCar’s owners have not ceased operating the company. As a result, they have secured funding from two sharks: Kevin O’Leary and Barbara Corcoran. Although they have not disclosed their financial information yet, they estimate that they are worth about $10 million.
Among their other projects, WaiveCar has partnered with ReefDrive, which allows advertisers to display their commercials directly on the cars. In addition to this, WaiveWork, another company that was launched by the founders, provides car-sharing service to people who are engaged in driving-related careers. Currently, the company rents electric automobiles for $280 per week.
WaiveWork recently partnered with a developer to provide car-sharing services at a waterfront rental building in Williamsburg, New York. Only residents of Level apartments will be able to access the vehicles. These cars can be rented for two hours for free, but after that, it will cost the user $5.99.
Founded by Isaac Deutsch and Zoli Honig, WaiveCar offers a unique travel experience. Unlike other car-sharing services such as Zipcar, it allows its users to take advantage of low-cost travel. Rather than having to pay for a cab or Uber, travelers can simply download the app on their smartphone and get a free ride. Besides that, the service is also characterized by innovative digital out-of-home advertising. For example, WaiveCar has installed LCD and vinyl advertisements on the cars.
WaiveCar was able to acquire a $500,000 loan from Kevin O’Leary, who was impressed by the idea. The business also secured partnerships with Hyundai and Chevrolet, and its revenue relies on displaying advertisements on the exterior of the cars.