FlightCar, a rideshare startup that allowed people parking at the airport to rent their vehicles to approved traveling members, abruptly shut down services on Thursday, after its technology platform was acquired by Mercedes-Benz Research & Development North America.
“Our technology will now be a part of the Business Innovation division at MBRDNA, the innovation lab for new mobility services. We are excited to be part of Mercedes-Benz’s future shared mobility projects,” FlightCar posted on its website.
The acquisition comes on the heels of Hertz’s $50 million investment in the on-demand valet service Luxe in April, and General Motors Co.’s $500 million investment in Lyft in January.
Although the purchase price of FlightCar’s acquisition was not disclosed, the San Francisco-based rideshare company, founded in 2012, had raised a total of $40 million, after it latest round of funding in October 2015, according to AngelList.