San Francisco-based ride-sharing service Sidecar on Monday announced a $15 million funding round that included backing by British tycoon Richard Branson.<\/p>\n
The money will help fuel a nationwide expansion of Sidecar, which introduced a ‘Shared Rides’ service here about four months ago, according to an online post by chief executive Sunil Paul.<\/p>\n
“Our drivers and riders have shown the world that people will embrace smart transportation solutions that are affordable and safe,” Paul said.<\/p>\n
Sidecar’s goal is to create the largest transportation marketplace in the world by building a system that makes it as affordable to share rides as it is to use public transit, according to the company’s chief.<\/p>\n
The service uses a smartphone application to match people looking for rides with nearby drivers who happen to be heading for the same locations. Passengers split costs of trips with drivers.<\/p>\n
About 13,000 people requested rides in the month after the service launched launched, according to the company, which boasted that it is matching thousands of riders and drivers weekly.<\/p>\n
Previous Sidecar investors Avalon Ventures and Union Square Ventures took part in the latest funding round, which was joined by Virgin Group founder Branson, according to Paul.<\/p>\n
“Technology has turned transportation on its head,” Branson said in comments posted online by Sidecar.<\/p>\n
“It’s fundamentally changing the way we get around. We don’t need to own cars, services like Sidecar can get us around town.”<\/p>\n
The true cost of ADSL<\/a><\/strong><\/p>\n Don\u2019t be fooled by e-toll rhetoric<\/a><\/strong><\/p>\n