The car-sharing start-up Wheelz, an exclusive service to Stanford since September, recently announced a $13.7 million investment from Zipcar to expand its reach. The company allows students to rent out their personal vehicles to others for profit.
The New York Times reported that 25 vehicles at Stanford are registered with Wheelz, but that hundreds of students rent the vehicles.
Wheelz co-founder and CEO Jeff Miller said car owners earn an average of $200 per month from the service.
“I’m obviously not always using my car,” said Patrick Quigley ‘14, a Wheelz user. “So I just leave my car where it is and whenever I want to use it, I’m still able to use it.”
Quigley noted the convenience of the program, saying Wheelz reschedules drivers to other vehicles if he decides to use his car. He said he had made “around $300” since he started sharing his car in November.
Wheelz faces several competitors as it expands from Stanford, including RelayRides and Getaround.