Company Overview and News
Collaborate Corporation Ltd’s (ASX:CL8) DriveMyCar business unit has launched the RACV DriveMyCar website, its first product in collaboration with RACV in Victoria.
Collaborate Corporation (ASX:CL8) will add 105 new 2018 model Subaru XV vehicles for rental through its DriveMyCar platform in September 2017.
Collaborate Corporation’s (ASX:CL8) shares traded higher yesterday after securing a strategic investment of $1 million from the Royal Automobile Club of Victoria (RACV).
Collaborate Corporation (ASX:CL8) has been granted a trading halt by the ASX, pending details of a strategic investment.
Collaborate Corporation’s (ASX:CL8) DriveMyCar business unit is on track to deliver another quarter of strong growth, with a number of sales records broken before the end of the March 2017 quarter.
Collaborate Corporation (ASX:CL8) is expanding the fleet size of its DriveMyCar rental service with the addition of 101 Subaru Impreza 2017 model vehicles.
Collaborate Corporation Ltd’s (ASX:CL8) shares were last trading about 17% higher for the day, after launching a rental car offering for UberX driver-partners in Brisbane and Melbourne. The company's move into Brisbane was made possible by the state of Queensland making ride-sharing legal from today. Victoria legalised ride sharing last month. Collaborate’s DriveMyCar ride-share rental offering for UberX driver-partners was launched in July 2016 in Sydney and the initial uptake has been very strong.
Collaborate Corporation Ltd (ASX:CL8) has opened a new market for its vehicle rental service with an agreement to advertise these to UberX ride share driver/partners through Uber Marketplace. Car owners are using the Collaborate platform to generate income from under utilised vehicles. While UberX is a portal operated by Uber which advertises vehicle solutions to prospective uberX driver-partners. Collaborate’s DriveMyCar business unit will start advertising ride share vehicle rental services to uberX ride share driver-partners on the Uber Marketplace.
Collaborate Corporation Ltd (ASX:CL8) is heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare. The halt will remain in place until the opening of trade on Wednesday 4th May 2016, or earlier if an announcement is made to the market.