Allstate-funded Avail Carsharing faces uncertain future
Avail Carsharing , a peer-to-peer carsharing startup launched by insurance giant Allstate in 2018, is currently facing an uncertain future, as shared via thelayoff.com.
Critics have raised concerns about Avail’s financial performance since its inception, with ‘hundreds of millions’ of dollars invested over the years without yielding any significant returns.
While Avail has managed to remain afloat, some attribute its continued existence to the financial backing provided by its parent company, Allstate. However, this enduring support also raises questions about the leadership of Allstate, particularly CEO Tom Wilson. Critics argue that Tom Wilson’s “baby” has been a failure from the start.
There are rumors circulating that Avail may be integrated into Allstate in the first quarter of 2024, which could signify a shift in the company’s direction.
As background, Avail was initially available in various airport and community locations but has since retracted its services to support only Denver and Chicago. It enabled users to borrow local cars, with a maximum trip duration of 7 days initially, but this has since been extended to 2 weeks. Insurance is offered though Allstate.
Separately, former employees have gone to LinkedIn to share reports on layoffs. “Many of these Allstaters have been with the business 10+, 15+ years and have amazing experience,” shared a former sourcing analyst at Allstate. “But in a twist of fate, on Wednesday my department was eliminated, and I was laid off,” shared another, who was part of Allstate’s corporate strategy team.
Have you heard of anything happening at Allstate/Avail? Contact me at shefi (at) coverager.com.