Product Update
Is WaiveCar Still in Business? (2026 Update)
Is WaiveCar from Shark Tank still around in 2026? The deal it made, the sharks who invested, and where to buy WaiveCar today.
A free electric car you could borrow, paid for by ads wrapped across the body? WaiveCar pitched a genuinely clever idea in the Tank: free short-term car-sharing funded by advertising. It sounded like the future. So where did that future end up?
The Short Answer
No, WaiveCar is no longer in business. The original free car-sharing service has shut down.
By early 2020 the company had effectively ceased operations, and its remaining footprint was absorbed elsewhere. If you came looking to borrow a WaiveCar today, that option is gone.
The Pitch and the Deal
WaiveCar appeared in Season 9, Episode 7, with founders pitching an all-electric, ad-supported, free car-sharing model. The ask was unusual: $500,000 in exchange for just 2% of the company, which implied a very high valuation for an early-stage business.
Kevin O'Leary stepped up and made the deal at $500,000 for 2% equity, matching the ask. It was a bold bet on a capital-heavy idea, and capital intensity turned out to be exactly the problem.
Where It Is Now
The free-car model was expensive to run, and the cracks showed over time. Social media activity went quiet in late 2019, and in early 2020 an insurance change forced a campus-based program at Cal State LA to close. Soon after, the pandemic made shared-vehicle services even harder to sustain.
The remaining assets were folded into a larger mobility company, and the WaiveCar brand as fans knew it stopped operating. The founders moved on to new ventures in the vehicle-rental space rather than reviving the original service.
Because the company is closed, there is nothing to sign up for or buy today. Any sites still carrying the WaiveCar name are largely historical, so we would not recommend handing over payment details to a service that is no longer running.
The Bottom Line
WaiveCar had vision and even won over a shark, but a free, ad-funded electric car fleet proved too costly and fragile to last. Insurance shifts and the pandemic finished off an already strained model.
It is a memorable Shark Tank story, but it is firmly in the past. If you are after car-sharing today, you will need to look at the services that are still on the road.
As an Amazon Associate, Shark Tank Index earns from qualifying purchases.
Where to buy WaiveCar
Still selling as of April 6, 2026. Check today's price and availability.
Affiliate link — we may earn a commission at no extra cost to you.
See the full WaiveCar deal breakdown and term sheet →
