4/19/2023 0 Comments Zipcar stock![]() ZipCars are available only to ZipCar members, charged by the hour (prices include fuel and insurance), are bookable in advance and collectable from multiple locations typically in densely populated residential areas. The principal value proposition to the user is access to a range of cars 24-hours a day without the burden of ownership. Customers become members and must be 21 years or older, unless they are affiliated with a university that offers ZipCars, in which case they must be 18 or older. ZipCar is for people, usually city residents, who need occasional access to a car, but who prefer not to carry the expense and burden of owning one. By January 2014 Zipcar has 850,000 members, more than 700 employees and 11,000 cars available in the U.S., Canada and Europe.Īlthough ZipCar has bought several competitors in recent years, other competitors do exist including Car2Go and DriveNow, and peer-to-peer firms like RelayRides and Uber.The logic behind the Avis acquisition is they saw a synergy for fleet optimisation since their vehicles are used mainly during the week, whilst ZipCars are used mainly on weekends. In January 2013 Avis Budget Group purchases ZipCar for US$500 million.In April 2011 Zipcar goes public, earning a market valuation of more than $1 billion, though in the months to come its stock price will fall from a high of more than $28.In December 2010, Zipcar raises US$21 million from Meritech Capital Partners and Pinnacle Ventures.In April 2010 Zipcar buys Streetcar, the largest British car-sharing company for about US$50 million.In June 2009 the Zipcar iPhone app is announced so users can locate Zipcars, check on their availability, reserve them and even unlock them. ![]()
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