Shares of connected carsharing marketplace Getaround (NYSE:GETR) are tanking in its first day of trading today after its business combination with InterPrivate II Acquisition (NYSE:IPVA).
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Getaround had agreed to the de-SPAC transaction with IPVA earlier this year and has a presence across the U.S. as well as Europe. The combination was approved by IPVA stockholders on December 7.
Launched in 2011, Getaround’s peer-to-peer marketplace enables a contactless experience for sharing cars as well as trucks.
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