Getaround, Inc. · OTC:GETR
Getaround — SPAC Merger (May 2022)
46 slides from Getaround's SPAC merger presentation, May 11, 2022
Slide 1: Getaround
getaround
Slide 2: Disclaimer
All content in this file is confidential. DISCLAIMER This presentation (together with oral statements made in connection herewith, this “Presentation”) is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to a potent
Slide 3: Participants in Solicitation; Non-GAAP Financial Measures
PARTICIPANTS IN SOLICITATION InterPrivate and Getaround and their respective directors and officers may be deemed to be participants in the solicitation of proxies from InterPrivate’s stockholders in connection with the Proposed Transaction. Information about InterPrivate’s directors and executive of
Slide 4: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This Presentation contains certain forward-looking statements within the meaning of the federal securities laws with respect to the Proposed Business Combination between Getaround and InterPrivate, including statements regarding the benefits of the Proposed Business Combina
Slide 5: InterPrivate overview
A leading SPAC platform InterPrivate overview Ahmed Fattouh Brian Q. Pham Alan Pinto th Chairman & CEO Executive VP Executive VP $259m IPO 1/5 Founder, InterPrivate Partner, InterPrivate Partner, InterPrivate Proceeds Warrant • 25+ years in private equity and M&A • 10+ years experience as tech inves
Slide 6: Getaround investment highlights
Getaround investment highlights Top 2 player globally in peer-to-peer carsharing −Operates in 950 cities across 8 countries, with 1.6m guests renting 66k cars from hosts Large total addressable market enabled by digital model −Serviceable addressable market of $155B Marketplace model is asset-light
Slide 7: Transaction summary
Transaction summary in millions, except per share values Key transaction terms Illustrative pro forma valuation Pro forma capitalization Pro forma enterprise value of $900M • Share price at merger $10.00 1 Pro forma net balance sheet cash assumes no redemptions, $50M equity , $175M • Total shares ou
Slide 8: Our mission is to solve the 95% problem
Our mission is to solve the 95% problem 1 Introducing our digital Cars are wastefully parked 95% of each day • carsharing marketplace But accessing a car you don’t own is hard, offline, analog • 1. “Going My Way? The Evolution of Shared Ride and Pooling Services”, Berkeley Transportation Sustainabil
Slide 9: Getaround is a leading global and digital carsharing marketplace
Getaround is a leading global and digital carsharing marketplace Connected cars on network GUESTS HOSTS 14 Get instant access Earn income by to cars nearby sharing cars 10.5 1.6m 66k active cars unique guests 20x larger than Connect® Cloud 7 nearest competitor $370M 5.7m host earnings trips complete
Slide 10: 100% digital carsharing experience
100% digital carsharing experience Removes transactional friction points Return Unlock Inspect Reserve Search Reserve instantly and Share and earn digitally go — from anywhere — no in-person interaction / 10
Slide 11: A decade of innovation and growth
A decade of innovation and growth $500M+ equity raised from top tier Silicon Valley & strategic investors U.S. suburban and 2021 tier 2 city expansion $140M from SoftBank, Reinvent, Total Profitability Series E 2020 Energies, Menlo Ventures, and others 1 demonstrated in Europe EU expansion and 2019 D
Slide 12: Strong growth in GBV and NMV
Strong growth in GBV … with continued acceleration through COVID-19 in net flow-through 59% growth 179% growth in COVID-19 in COVID-19 $167M $81M $136M $65M $105M $29M $15M $26M $18M $9M 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 1 2 GBV = GROSS BOOKING VALUE NMV = NET MARKETPLACE VALUE Gross
Slide 13: Pioneered the digital carsharing transformation
Pioneered the digital carsharing transformation $30B $38B Digital carshare is up to a $155B $43B serviceable market $44B Car-free People who do not own a car, and population choose to live car free Car loan People with car loans where Getaround alternative is a more affordable alternative Digital An
Slide 14: Expanded addressable market via more use cases and geo coverage
Expanded addressable market via more use cases and geo coverage High booking intent across all population densities High (>20k ppl Legacy carshare Car rental per ml²) Rideshare & (asset-heavy) (asset-heavy) taxi Atlanta Population density digital marketplace Analog marketplace (asset-light) (asset-l
Slide 15: The Getaround Connect Cloud Platform
The Getaround Connect® Cloud Platform Optimized for digital Getaround apps Rideshare & mobility partners and contactless digital marketplace Data Machine learning Software Connect® Cloud Platform Vertically integrated tech stack powers digital, connected experience on virtually any car Getaround Con
Slide 16: Uniquely able to digitize 1.2B legacy cars
Uniquely able to digitize 1.2B legacy cars Patented IoT technology Certifi ed network of enables any car to connect technicians worldwide to our Getaround Cloud™ Online certification + portal for • training new installers virtually Powers our digital experience • Supports 7K+ makes and models • Conta
Slide 17: Working with OEMs on the future of the connected car
Working with OEMs on the future of the connected car Accelerating supply growth via A history of inventive native OEM software integrations partnerships with OEMS EU OEM API integration 2018 2019 2020 2021 no hardware Getaround Cloud™ required Strategic POC Signed pilot Signed pilot investment & int
Slide 18: Using advanced data science to drive improvement across the business
Using advanced data science to drive improvement across the business Dynamic Fraud Marketplace Smart pricing intelligence optimization automation Booking FUEL & TOLL signals MILEAGE BILLING Verify identities Utility Risk pricing pricing Block abusers TOW & IMPACT CUSTOMER SERVICE DETECTION AUTOMATIO
Slide 19: Growing and densifying existing markets with adjacent expansion
Growing and densifying existing markets with adjacent expansion New metros 15% Existing metros 85% 85% of user growth coming from expansion in existing metro areas in the U.S. and EU Boston, MA Miami, FL Chicago, IL Expansion area Active area Map illustrates active and planned operating areas in sel
Slide 20: Who we serve
Who we serve USE CASES The The Visiting Friends Powerhost Utility Guest & Family “I manage my fleet “I do not have access to a business on Getaround” car, and need one frequently to live and work” Weekly Errands 55m entrepreneurs 46m people Car Renter Moving & Large Item Transport supply demand The T
Slide 21: Increasing usage drives higher customer LTVs
Increasing usage drives higher customer LTVs Driven by repeat guests 2x usage increase since 2018 Cohort guest spend increasing YoY Average monthly guest GBV Monthly hours booked per guest Average cumulative GBV per guest $800 Spring Fall 55 New 16% $700 50 $600 45 2018 $500 2019 40 2020 Returning $
Slide 22: Accelerating adoption by entrepreneurs who become Powerhosts
Accelerating adoption by entrepreneurs who become Powerhosts FUELING GROWTH OF EXAMPLES OF OUR POWERHOSTS Benefi ts of Powerhosts CONNECTED CAR NETWORK Business minded and Kisean Smith 71% of GBV eager to add cars 1 from Powerhosts • 26-year-old Getaround Powerhost from Atlanta • A Powerhost for two
Slide 23: Acquiring hosts and building an ecosystem for growth
Acquiring hosts and building an ecosystem for growth 1 in 4 hosts are entrepreneurs % new hosts becoming Powerhosts by cohort year PLAYBOOK FOR LOCAL ENGAGEMENT & SUPPORT Targeted 1 2 3 30% marketing 2017 2018 outreach Partner with local Negotiate win-win Promote with 2019 2020 municipalities parkin
Slide 24: Powerhosts scale and add more cars organically
Powerhosts scale and add more cars organically Powerhosts expand Powerhost organic fl ywheel 8x over 18 months Host adds cars Cohort GBV retention by host over 6 quarters based on demand Car achieves First guests optimal discover revenue yield new cars 8.0x 6.4x 4.6x 3.6x 3.1x 2.9x 1.0x Word-of-mout
Slide 25: Enabling hosts through data and technology
Enabling hosts through data and technology Enhances pricing No rental counter Detect & automate Track exceptions & Tools for managing and revenue yield ops required billable events react in real-time vehicle fleets • Predictive demand-engine • High-velocity transactions • Trip event detection ML • Re
Slide 26: Proven ability to develop scalable partner distribution channels
Proven ability to develop Scalable partner national partnerships distribution channels Acquiring guests through partners that access Getaround’s connected car network TYPICAL PARTNERS Rideshare Hospitality GETAROUND APP GETAROUND APP UBER DRIVER APP Travel 1 2 3 API Connect your Rent an Uber Drive a
Slide 27: A differentiated business and foundation for continued leadership
A differentiated business and foundation for continued leadership Global network Asset-light + digital enable competitive advantage: Asset-light model Preferred user experience 1 100% digital experience 2 Significantly larger TAM OEM & mobility integration Scalable & capital efficient 3 High frequency
Slide 28: We help reduce congestion and pollution and provide mobility
We help reduce …and provide mobility to congestion & pollution those who need it the most SERVING THE LESS AFFLUENT AND UNDERBANKED FEWER CARS ON THE ROAD Transactions made on 58% debit cards only ~10 cars off the road = for each shared car Booked hours in 51% less affluent neighborhoods REDUCED CARB
Slide 29: Led by a seasoned team of mobility operators and entrepreneurs
Led by a seasoned team of mobility TEAM EXPERIENCE operators and entrepreneurs Sam Zaid Laura Onopchenko Simon Baldeyrou Elliot Kroo Sy Fahimi Founder & CEO CFO Founder & CTO COO EU COO NA MARQUEE INVESTORS Ivana Savicevic Jeff Russakow Spencer Jackson Tom Alderman Karim Bousta VP Accounting Global
Slide 30: Financial highlights
Financial highlights getaround’
Slide 31: Financial highlights
Financial highlights Best-in-class take rate (NMV to GBV ratio) Rapid growth before and through COVID-19 48% 37% 13% 18% Leading take rates and trip margin higher revenue yield than >2x car rental (revenue per day) Strong economics with accelerating cohorts $177 $120 $76 $60 Investing in continued m
Slide 32: Bolstered fundamentals and industry-leading growth during COVID-19
Bolstered fundamentals and industry-leading growth during COVID-19 OPERATIONAL FOCUS ON DRIVING STRONG NMV GROWTH DESPITE SIGNIFICANT REDUCTION IN IMPROVED MARGIN PROFILE A CHALLENGING ENVIRONMENT DIRECT MARKETING SPEND 125% 96% -34pps Increase in NMV Reduction in spend Reduction in support costs $6
Slide 33: Demonstrated path to city profitability at ~50% EBITDA
Demonstrated path to city profi tability at ~50% EBITDA EXAMPLE MARKET AT SCALE PROFITABILITY OF TOP 20 GENERATES EBITDA OF ~50% MARKETS (RANKED BY GBV) 40% ~50% Adjusted EBITDA at • GBV Marketing $31.7M 20% scale driven by digital $26.4M 0% 0% marketplace model -20% $18.7M >13x ROAS (Return-On-Ad-S
Slide 34: Guest revenue retention by cohort
Mobility Team 30% guest revenue retention after 5 years with 5+ year customer lifetime NMV Retention by Guest Cohort Y1 Y2 Y3 Y4 Y5 Best-in-class guest retention • relative to direct peers enabled 1 2016 100% 50% 36% 33% 30% by digital model Long (5+ years) and predictable 1 • 2017 100% 45% 35% 34%
Slide 35: In the early stages of long-term growth
In the early stages of long-term growth Data monetization Enhance Services for hosts Execute on proven growth playbook monetization Pricing enhancements Upside from OEM and Uber integrations Local development Capture Upside from rebound in mobility demand Marketing investments Open new markets Add S
Slide 36: @Getaround
@Getaround / 36
Slide 37: Appendix
Appendix / 37
Slide 38: Non-GAAP reconciliation
Non-GAAP reconciliation ($ in 000's) 2019 2020 2021 Net Revenue $40,427 $58,724 $63,067 Less: Owned fleet revenue (22,109) (9,430) - Plus: EU insurance share 10,711 15,971 18,010 Net Marketplace Value (NMV) $29,029 $65,265 $81,076 Plus: owner earnings $60,101 $66,916 $77,240 Plus: coupons, makewells
Slide 39: Risk factors & Disclosures
Risk factors & Disclosures / 39
Slide 40: Risks Related to Our Operations
Risks Related to Our Operations The COVID-19 pandemic (“COVID-19”) and the impact of actions taken to mitigate COVID-19 have negatively impacted and will continue to negatively impact our business, financial condition, and results of operations. The effects of COVID-19 and other potential future publ
Slide 41: Risks Related to Our Operations (Cont'd)
Risks Related to Our Operations (Cont’d) The personal automobile insurance companies insuring the cars that hosts share on our platform may deny coverage for claims or decline to renew automobile insurance policies issued to hosts, based on incidents involving shared vehicles or carsharing procedure
Slide 42: Risks Related to Our Operations (Cont'd)
Risks Related to Our Operations (Cont’d) If we do not adequately protect our intellectual property and our data, our business, financial condition, and results of operations could be negatively impacted. In particular, we rely in part on patents to protect some of our technology. These patents may be
Slide 43: Regulatory Risks (Cont'd)
Regulatory Risks (Cont’d) The regulatory environment relating to sales or related taxes for businesses and platforms such as ours is complex, rapidly evolving and differs across local, state and national jurisdictions. Uncertainty in the application of taxes, including sales or related taxes, to our
Slide 44: Risks Related to InterPrivate II and the Business Combination (Cont'd)
Risks Related to InterPrivate II and the Business Combination (Cont’d) We may be unable to complete the Business Combination if the stockholders of InterPrivate II do not approve the transaction or a significant number of InterPrivate II stockholders exercise their redemption rights, thereby reducing
Slide 45: Risks Related to InterPrivate II and the Business Combination (Cont'd)
Risks Related to InterPrivate II and the Business Combination (Cont’d) PubCo does not intend to pay cash dividends for the foreseeable future. PubCo may not meet the NYSE’s initial listing criteria, and even if it does, the NYSE may not continue to list PubCo’s securities on its exchange; which coul
Slide 46: Sponsor Promote Disclosure
Sponsor Promote Disclosure InterPrivate Acquisition Management II, LLC (the “Sponsor”) is managed by InterPrivate Capital LLC (“IPC”), a wholly owned subsidiary of InterPrivate LLC (“InterPrivate”). InterPrivate is a private investment firm founded by the SPAC’s Chairman and CEO, Ahmed Fattouh, which