City to city ridesharing company BlaBlaCar has acquired two of its competitors, in the German and Hungarian markets. BlaBlaCar is backed by Index and Accel, and is one of the most high profile European champions of the sharing economy. This is a theme which we think has plenty of room to run and run, and we are excited to see some big European success stories starting to emerge.
BlaBlaCar, a marketplace for city-to-city ridesharing, is acquiring its German competitor Carpooling.com, as well as Hungary-based competitor AutoHop. While the terms of the deal are undisclosed, Carpooling.com definitely represents an important acquisition for the French company. BlaBlaCar is a marketplace where you can find a driver who is driving from one city to another and book a seat in advance. Drivers can make a bit of money while riders can travel for cheap. It has the same business model as Airbnb — you pay or get money every time you ride or drive, and the company takes a 10 percent cut on average. As a reminder, BlaBlaCar is one of the most promising French startups. It raised a massive $100 million round last summer to create a global long distance ride-sharing network.