Avis Budget Group Inc. announced today that it has agreed to buy U.S. car-sharing company Zipcar Inc. for $491 million. Avis will acquire Zipcar for $12.25 per share in cash, a 49% premium over the closing price on December 31, 2012, The companies aid that the transaction is subject to approval by Zipcar shareholders and [...]
Honda and Zipcar announced today that the Japanese automaker will be adding a couple of hybrid and electric-vehicles to Zipcar’s car-sharing service. “The agreement will give Zipcar members access to Honda’s most technologically advanced, lowest emission vehicles, making an already transformational service even more sustainable,” ZipCar said in a statement. The agreement will bring the [...]
IPOs are exciting for any investor, and our beloved industry saw the biggest one in history took place back in November with GM’s offering. Though no one has really made a killing on GM growth to this point, one automotive stock is making the bulls hungry on Wall Street. Zipcar Inc., the company known for [...]
According to a filing with the Securities and Exchange Commission on Wednesday, car-sharing company Zipcar plans to list 8.3 million shares at $14 to $16 per share when it makes its initial public stock offering. Zipcar would sell about 6.7 million shares while some of its investors will sell 1.7 million, the SEC filing said. [...]
Zipcar Inc., the hourly car rental company, said that it will seek to raise as much as $75 million by way of an IPO. The company, which has shown red ink every year since its inception in 2000, plans to use the money to reduce debt and expand the size of its fleet. Many planned [...]
Looking to find the last place you parked your car? There’s app for that. Don’t want to walk to your car and want it to drive right up to you? There will probably be an app for that someday too. But for now, if you’re looking to honk your horn and lock and unlock your [...]
Zipcar made an announcement earlier this month that it will be adding electric-vehicles to its fleet of car-sharing services. The two vehicles include the all-electric Citroen c1 and a plug-in hybrid Toyota Prius prototype. “Since early in this decade, Zipcar has been integrating alternative vehicles into the fleet — giving our members the opportunity to [...]
The world’s leading car-sharing service Zipcar Inc. said it will post its first profit in the third quarter and will go public in early 2010. Zipcar said it expects revenues to reach $120 million this year and to hit $1 billion within a decade. Since its inception in 1999, Zipcar has signed more than 300,000 consumer [...]
