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Zipcar goes public 2011 - now worth $1 billion (Poll) + Acquired by Avis 2013

submitted on April 15, 2011 by YanBz in "Member's Lounge", last updated on February 17, 2013 by HouTex
I heard on NPR's Marketplace last night that the popular car sharing company went public today (April 14, 2011). It is now valued at $1 billion according Wall Street, this is a company that never had a profitable year...

The entire company is worth more than $1 billion by Wall Street’s standards, based on the company’s more than 38 million total shares and yesterday’s closing price of $28 — an even 10 bucks more than the “ZIP” ticker’s $18 opening on the Nasdaq yesterday.

Read more:
1. Have you heard of Zipcar?
2. Do you think we are in a high-tech bubble?
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  • 111609
    23 14 8
    12 10 2
    Posted by CouponNut on April 15, 2011 [reply] 0 0
    The zip car in our area is $7 an hour, plus a hefty $70 deposit. They are centrally located right in the city.
    • josetring
      Posted by josetring on April 16, 2011 [reply] 0 0
      But you do get back the deposit
    • 111734
    • CouponNut
      23 14 8
      12 10 2
      Posted by CouponNut on April 16, 2011 [reply] 0 0
      Yes, even though you may only need the car for an hour, the deposit actually goes towards the hourly rate. The rate of $7 don't seem like much, don't forget you have taxes and insurance liablity and fuel fee. The mister just rented one last month. Overall still a good deal for a short term jaunt across the city.
    • 111844
    • Carsharing Dave
      Posted by Carsharing Dave on April 17, 2011 [reply] 0 0
      It's not a deposit it's an application fee and it's not refundable. But as others have commented it's pretty common to get an equal or greater amount of driving credit when you join so it's pretty low risk.

      You say $70 is "hefty"? In comparison to what? Certainly not car insurance, or even a bus pass!
    • 111845
    • CouponNut
      23 14 8
      12 10 2
      Posted by CouponNut on April 17, 2011 [reply] 0 0
      Its a registration fee, but you do have to put up the deposit.
  • 111867
    11 9 1
    Posted by lootango on April 17, 2011 [reply] 0 0
    There's zip cars in my area and I had no clue. Students here even get a discount. Who knew?
  • 169184
    Posted by HouTex on February 17, 2013 [reply] 0 0
    2013 Update: Avis will buy Zipcar
    Avis Budget Group Inc., once a skeptic about car sharing services, agreed to buy short-term rental pioneer Zipcar Inc. (ZIP) for $491 million, signaling a shift in the industry to embracing drivers who don’t want to own cars.

    With the Zipcar deal, Avis Budget becomes the latest company to pursue the fast-growing market for young, urban customers who want to rent cars by the hour, rather than owning their own vehicles. Enterprise Holdings Inc. and Hertz Global Holdings Inc. (HTZ), the two largest U.S. car-rental companies, have already rolled out offerings for such customers.

    Read more -
  • 169334
    23 14 8
    12 10 2
    Posted by CouponNut on February 18, 2013 [reply] 0 0
    I hope that this won't change the local location of Zipcar. Right now in San Francisco, you can just walk down to the corner and rent a zipcar which is convenient for people who need to do some heavy duty shopping outside the city limits.

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