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Hertz provides comprehensive mobility solutions, primarily operating as a global leader in vehicle rental services. The company offers a wide selection of cars, trucks, and vans for short and long-term rentals, alongside a growing car sales division. Its operational model emphasizes efficient vehicle utilization and a focus on customer experience across its extensive network.
The company's origins trace back to 1918 when Walter L. Jacobs, a visionary entrepreneur in Chicago, Illinois, established a modest car rental operation named "Rent-A-Car" with a dozen Model T Fords. Recognizing the nascent industry's potential, automotive magnate John Hertz acquired Jacobs' burgeoning business in 1923, expanding its reach and laying the groundwork for its future global presence.
Hertz serves a broad customer base, including individual travelers, businesses, and government entities, catering to diverse transportation needs. The company's long-term vision centers on cementing its position as the most reliable and innovative vehicle rental and leasing provider, aiming to deliver customer-focused and cost-efficient services that set the standard for excellence in the mobility sector.
Key people at Hertz.
Key people at Hertz.
Hertz has 1 tracked investment across 1 company. The latest tracked deal is $19.0M Series A in UFODRIVE in February 2022.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Feb 1, 2022 | UFODRIVE | $19.0M Series A | Mark Fields, TOM Klein, Hertz | Pario Ventures, Pitchdrive, Knighthead Capital Management |
Hertz Global Holdings, Inc. is a leading global vehicle rental company operating through brands like Hertz, Dollar, Thrifty, and Firefly, providing car and truck rentals primarily at airports and urban locations worldwide.[3][1] It serves leisure and business travelers, as well as corporate fleets, addressing the need for flexible, short-term vehicle access in the Americas, Europe, and beyond, with segments focused on rentals, vehicle sales, and value-added services.[3] The company has demonstrated growth momentum post its 2021 Chapter 11 bankruptcy emergence, emphasizing fleet optimization and operational efficiency amid a recovering travel industry.[3]
Hertz traces its roots to 1918 in Chicago, where 22-year-old Walter L. Jacobs launched the world's first car rental business, "Rent-a-Car Inc.," starting with just 12 Ford Model T Fords and scaling to 600 vehicles generating $1 million annually within five years.[1][2][3][4] In 1923, Jacobs sold it to John D. Hertz, a serial entrepreneur who had built Yellow Cab and Yellow Truck businesses; John renamed it the "Hertz Drive-Ur-Self System" and introduced innovations like car radios.[1][2][4] General Motors acquired it in 1925 via Yellow Truck, fueling expansions such as the first rental charge card (1926), airport location (1932), and international growth into Canada (1938) and France (1950).[1][4][5] John Hertz repurchased it in 1953 through Omnibus Corporation, renaming it The Hertz Corporation and taking it public in 1954, with further acquisitions like truck leasing pioneer Metropolitan Distributors.[1][3][4]
Hertz rides the wave of mobility evolution, from early 20th-century mass car adoption to today's integration with digital booking, car-sharing (e.g., Hertz 24/7), and electric/autonomous vehicle trends amid urbanization and post-pandemic travel surges.[3][7] Its timing as the rental pioneer capitalized on Ford Model T affordability and airport booms, while current fleet strategies align with EV shifts and sustainability pressures from market forces like rising ride-sharing competition (e.g., Enterprise's insurance-replacement dominance).[4][5] Hertz influences the ecosystem by driving automaker fleet sales, standardizing rental tech like apps and telematics, and enabling access-based models that reduce personal car ownership in dense urban and travel hubs.[1][3][5]
Hertz is poised for expansion through fleet electrification, partnerships with EV makers, and tech-enhanced services like seamless digital rentals and AI-driven demand forecasting, capitalizing on sustained travel recovery and mobility-as-a-service trends.[3] Regulatory pushes for greener fleets and autonomous vehicle pilots could amplify its role, though competition from TNCs like Uber and economic volatility pose risks. As a century-old innovator, Hertz's adaptability—from Model Ts to potential robotaxis—positions it to redefine accessible mobility, echoing its origin as the original "Drive-Ur-Self" disruptor.[1][7]
