Zoomcar, the Nasdaq-listed car rental company, has launched a unified app to streamline the car-sharing experience for guests and hosts. Previously managing separate apps for booking and hosting, the new app merges these functionalities, offering features like “guest favorites” to highlight popular cars. Hosts gain enhanced control over their rentals with options for flexible booking and new tools such as GPS trackers and keyless entry devices.
This update follows recent leadership changes: Co-founder Greg Moran was ousted as CEO in June, and Global President Adarsh Menon resigned shortly after. Despite these disruptions, Zoomcar has seen a 12% rise in net revenue, up to $9.90 million, and improved trip ratings.
The company, which started trading on Nasdaq in December 2023 after a SPAC merger, experienced a 19% revenue decline in Q4 2023 to $2.4 million due to reduced bookings. However, it expects FY24 revenue to reach $9.8 million and anticipates a significant decrease in net loss to $34 million.
