Caterpillar Invests in an Airbnb for Excavators

By James R. Hagerty
May 8, 2015 11:30 AM ET

Originally published on

Caterpillar Inc. said it had invested in Yard Club Inc., a San Francisco startup that helps owners of heavy equipment rent idle machines to one another, much as Airbnb Inc. helps people find vacant homes or apartments for short stays.

A spokeswoman for Caterpillar, which makes construction and mining equipment, said the company had provided a bridge loan that could be converted to equity in the future. Colin Evran, Yard Club’s 31-year-old chief executive who founded the startup in 2013, declined to provide details of the financing but called it “pretty substantial.” Yard Club already had attracted $1.6 million of venture capital in late 2013, he said. 

Click here to continue reading on

More from Caterpillar Inc.

Public Policy at Caterpillar

Caterpillar's Job Site Efficiency

Customer Sustainability at Caterpillar

Caterpillar's Circular Economy