Wednesday, February 19, 2014
Sidecar Rolls Out Beta Beyond LA, Raises $10M
Ridesharing app developer Sidecar said today that it has extended the rollout of its new version of its app beyond Los Angeles and Chicago, and has raised $10M in a new funding round. The Bay Area startup--which has been testing a new version of its app here in Los Angeles for the last three weeks--said its new app re-launches the company as a "mobile transportation marketplace", letting drivers set their own prices for rides, and letting riders select which drivers they want based on vehicle, ratings, price, and more.
The company said the new funding, a Series B, comes from Union Square Ventures. Sidecar is one of a number of mobile-app driven ridesharing services that have been competing intensely in Los Angeles, against both each other and local taxi companies. That mix of companies includes everyone from Uber, to Lyft, to Flywheel (Uber-like functionality for local taxi companies), and has included lawsuits, protests, and other drama around whether or not the services ought to be available in Los Angeles. Sidecar said that its LA rides are up 20 percent using the new app.