Business Telegraph

The Entrepreneurs

Car Next Door Will Be Back on Shark Tank

  • Written by Reporters



Car Next Door Will Be Back on Shark Tank Exactly One Year After Their First Successful Face Off With The “Sharks”

 

Exactly one year ago Car Next Door CEO Will Davies and friend and CTO Dave Trumbull stood in front of five of Australia’s most successful entrepreneurs, with a combined net worth of more than $1 billion, and walked away with the capital injection and priceless mentoring of leading Brisbane entrepreneur, investor and Shark Tank “shark” Steve Baxter.

 

The start-up, which offers a platform for car owners to rent out their car when they’re not being used, will be brought back on the show this month for a behind the scenes look at where they are now.

 

A successful 12 months saw the start-up’s value reach past the $20m mark as they enter the initial weeks of a Series B capital raise – having previously secured $2.5m investment from Caltex and $1.3 from venture capitalists and individual investors in other capital raising efforts.

 

Car Next Door CEO Will Davies said in the last 12 months the business has tripled in size and also expanded out of Sydney and Melbourne, into Brisbane.

 

“We were already on a growth trajectory – doubling our database of members every 6 months and gaining momentum in the industry, however being on the prime-time show gave us a kind of exposure we hadn’t seen before,” he said.

 

“At that stage we were already well known in inner-city Sydney and Melbourne as we’ve been running since 2012, but it’s taken more time for people outside of the big cities to understand the sharing economy and the huge implications it’s having on our entire economy.”

 

“By the time we pitched on Shark Tank, I must have given that pitch more than a hundred times. Raising capital took 70 per cent of my time for nearly a year. It takes a massive investment of your time and energy, and a really thick skin.”

 

“I remember pitching to a group that included [renowned Australian businessman] John Singleton, and he just slammed the whole idea. I found it really motivating, actually. It gave me another reason to make it work – just to prove him wrong!”

 

“If I’d listened to all of the people who said this would never work, it would never have worked. You’ve got to back yourself, work hard, and keep going.”

 

Mr Davies said the two biggest impacts of being on Shark Tank have been:

 

  •       Mentoring: Gaining the mentorship of renowned IT entrepreneur Steve Baxter has given Will and Dave access to a wealth of experience and a valuable sounding-board for ideas.
  •       Exposure: The Shark Tank screening saw a massive spike Car Next Door’s website traffic followed by extensive media coverage. Steve Baxter has been proactive in sharing updates about Car Next Door with his extensive social media following..

 

Car Next Door launched in 2012 and now has more than 30,000 borrowers and some 900 cars in Sydney, Melbourne and Brisbane.

 

The average owner makes $3500 a year on the platform, while the high earners walk away with up to $10,000 a year. Cars generally cost around $5 an hour or $25 a day to rent.

 

For more information visitwww.carnextdoor.com.au

Entrepreneurs & Leaders

New internship for over 55's launches to combat ageism

THINKERBELL LAUNCHES THRIVE@55, THE INTERNSHIP PROGRAM THAT’S ONLY AVAILABLE TO PEOPLE AGED 55 YEARS OR OLDER. Th...

Crypto Trading in Australia - The 500Investments Review

Each and every month, Cryptocurrency trading is getting trendier in Australia. As for 2020, Australian citizens fi...

Top Trading Myths You Should Stop Believing

If you ask a long-time trader about all the advice and the tips they have received throughout their entire trading...

Four things (or maybe five) to help with your move

Planning a move can be a drain even when you are organised. There are always a million things to think about in the ...

Financial Management: 6 Tricks to Manage Your Finances The Right Way

Bad money management. It sounds nasty and you almost certainly want nothing to try to do with it. Having a sound money...

Super Simple - 5 Superannuation Tips That Will Help You Maximise Your Investment

Something many Australians have in common but rarely ever discuss is our collective lack of certainty as to what’s...

After Black Friday, It’s All About CBD Cyber Monday

We all know the many purposes of CBD or cannabidiol. It has been able to catch the attention of many people ever since...

Continuing Medical Education - Importance

Doctors are the link between us and our health. They are an important component in the continued well-being of our...

What You Need to Know About Front End Loader and Training to Be an Operator

A Front end loader is also referred to as a loader or a bucket loader. This is a piece of heavy equipment that’s n...

Enhance the Security of Your Valuables with Lockers

Workplace or office theft is one of the things that nearly everyone is highly concerned about nowadays. It’s impor...

3 decor ingredients for the perfect guest bedroom

It is a room that is often left until the very end. At the same time, believe it or not, guest bedrooms are someth...

Major Ways in Which Technology is Changing the Oil and Gas Industry

Digitalization and technological innovation are transforming virtually every industry that they come in contact wi...

10 common signs you might be having money problems

Life can seem like it’s under control but for many people, managing finances is an ongoing issue that can affect eve...

Home Interior Painting: Is it a Good Idea to Paint during Winter?

Want to re-design your home with new paint? Discover how to revamp your interior house painting this winter and with...

7 Simple Ways to Childproof Your Home

Unfortunately, your own home can turn into a safety hazard for a small child if you don’t take it upon yourself to...

Sydney Pest Control Quick Traps Against Vermin Invasion – Effective, Fast, and Easy!

How can you be vigilant when it comes to rodent infestation? There might be one trying to sneak into your home rig...

Ozzy tyres 4x4 wheels review

The performance of a 4x4 vehicle depends to some extent on the wheels and tyres fitted on the vehicle. Hence the vehicle...

Genealogy Resources and How to Use Them Effectively

There are plenty of online and analog resources that can provide tutorials, further resources, and troubleshooting...

Redesigning Your Garden

Tired of looking through your kitchen window at the same drab garden? Are you feeling creative and have the desire t...

Five ways to help your child get a good night's sleep

It is a challenging factor for each parent to get the children on time to bed every night. Parents are dealing with ...

A Help Guide on Tow Truck Insurance

Do you have tow truck insurance requirements? If yes, then you have come to the right place. Reading this guide wi...

Businesses Must Not Ignore Men’s Mental Health

As COVID-19 takes its toll on the mental health of employees, workplaces must look to provide support Businesses ...

Things To Know About Electric Scooters

Ultimate electric scooters have been accepted as one of the most preferred modes of transportation. With the new t...

How To Choose Leather Watch Brands

Every accessory has its value and beauty to add on to the user using it. A watch, the most common accessory, is no...

Writers Wanted


News Company Media Core

Content & Technology Connecting Global Audiences

More Information - Less Opinion