Nearly 50 investors in start-up Car Next Door, including Hyundai, Suncorp, Ampol and entrepreneur Steve Baxter of Shark Tank fame, are expected to share in about $50 million, after Uber acquired the Australian car-sharing service.

Uber said by adding Car Next Door it would be able to give commuters another option for trips less suited to ride-share, such as running errands to the hardware store or a day trip away. It is Uber’s first global foray into the car-sharing market.