Extremely poor culture. They pride themselves on “running lean” and “being scrappy”. HR is delegated an executive assistant. Leadership keeps talking about growing but they wont even backfill the positions for the folks that leave. They ACTUALLY measure culture by their Glassdoor reviews
This company was transformed into a total pump and dump scheme conducted by inside investors including the CEO. The following is all publicly available information…
• The company filed for IPO around the time the original founders left. The new CEO has 0 experience in tech, much less as a tech CEO . He’s an investment banker by trade
• In March 2021, the company stated (publicly) that they would break even if they could reach 30,000 rental days a week
• Stock price jumps substantially following this statement
• The CEO dumped a large majority of their shares in late July 2021.
• In August 2021, Hyrecar reported they were at 25k weekly rental days, yet operating income has continued to decline substantially.
• Stock price cuts in half once the market realizes the prior claims made by Hyrecar were greatly exaggerated
• Management claims the drop in operating income were due to “one time” insurance costs, but based on the last earnings release, that also looks to be false.
• There is a pending lawsuit for misleading investors. (These can be quite common but often fail because its nearly impossible to differentiate incompetence from gaming the system)
• Only 8% of ownership is company insiders. They don't even believe in themselves.
