Briefing

Facedrive acquires Waterloo-based carpooling firm HiRide Share

article-aa

The Toronto ride-sharing network is paying $1 million in stock plus up to $2.5 million in conditional payments over the next two years. (The Logic)

Read this article for free

By entering your e-mail you consent to receiving commercial electronic messages from The Logic Inc. containing news, updates, offers or promotions about The Logic Inc.’s products and services. You can withdraw your consent at anytime. Please refer to our privacy policy or contact us for more details.

Already a subscriber?

Talking point: The acquisition gives Facedrive access to HiRide’s over 20,000-person carpooling network, which targets the Kitchener-Waterloo university market. Both companies bill themselves as socially responsible. Facedrive, for example, offers electric vehicles and plants trees to offset its CO2. This is its second recent expansion: in 2019, it expanded to several Ontario communities.