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RelayRides, a car sharing startup that took cash from a nonprofit startup incubator designed to keep companies in Mass., is leaving for San Francisco, according to an online report.
The website Xconomy reports this morning that RelayRides, which was a $50,000 winner of the MassChallenge startup competition this fall, is apparently following bigger money. The company this morning announced a seed round led by San Francisco-based August Capital and Google Ventures, the venture arm of Google Inc. (Nasdaq: GOOG). The size of the round was not disclosed.
The press release did not mention a change in headquarters, but was datelined San Francisco. The company’s ‘contact’ page still lists a Cambridge address. RelayRides founder Shelby Clark could not immediately be reached.
Launched earlier this year, RelayRides provides a digital marketplace for car owners to lease their vehicles by the hour to other drivers. Unlike Zipcar, which has an IPO pending, RelayRides does not own any vehicles. The service is up and running in Cambridge, and will go live in San Francisco today, the company announced.
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