Zipcar

Zipcar
Company typeSubsidiary
IndustryCar sharing
FoundedJanuary 2000; 24 years ago (2000-01), in Cambridge, Massachusetts, U.S.
Founder
HeadquartersBoston, Massachusetts, U.S.
Area served
Urban areas and college campuses throughout the United States, Canada, Costa Rica, Iceland, Taiwan, Turkey, and the United Kingdom
Key people
Angelo Adams (president)
ServicesCar sharing
Number of employees
Over 500[1]
ParentAvis Budget Group
Websitezipcar.com
Footnotes / references
[2][3][4]

Zipcar is an American car-sharing company and a subsidiary of Avis Budget Group. Zipcar provides vehicle reservations to its members, billable by the minute, hour or day; members may have to pay a monthly or annual membership fee in addition to car reservations charges. Gas, maintenance, insurance options, and a dedicated parking spot are included.[5] Zipcar was founded in 2000 by Antje Danielson and Robin Chase.[citation needed]

On March 14, 2013, Avis Budget Group acquired Zipcar for approximately US$500 million.[6] Scott Griffith, who had run the company for the previous decade, resigned the day after the acquisition closed and passed the reins to a new company president, Mark Norman.[7] In early 2014, Kaye Ceille took over as Zipcar's North American President. In the summer of 2016, Kaye Ceille became a managing director of Avis Budget Group International and in 2017, Tracey Zhen was appointed as President. Angelo Adams was announced as the head of Zipcar in 2022.

In September 2016, Zipcar announced that it had 1 million members across 500 cities in nine countries, and offers nearly 10,000 vehicles.[8]

Members can instantly join and reserve vehicles via Zipcar's Android or iPhone mobile app or online, and once approved, immediately or up to a year in advance book Zipcars. Zipcar members have 24/7 on-demand access to the cars by enabling bluetooth on their Zipcar mobile app or, if needed, an access card which unlocks the door; the keys are already located inside. Members can also use Zipcar's app to search, book and locate a Zipcar by honking its horn, extend, end and cancel a reservation.[9]

In the third quarter of 2007, Zipcar merged with Seattle-based rival Flexcar to create a nationwide car rental company.[10] The company's IPO was in April 2011. Zipcar common stock traded on NASDAQ under the ticker symbol "ZIP" until it was acquired by Avis in 2013.[11][12]

  1. ^ "Avis Budget - Investor Relations". Ir.zipcar.com. Retrieved October 15, 2013.
  2. ^ Grillo, Thomas (April 8, 2013). "Zipcar getting makeover of new corporate HQ". The Boston Business Journal. Retrieved December 14, 2015.
  3. ^ "Where the cars are". Zipcar. Retrieved December 2, 2014.
  4. ^ "Avis Budget - Investor Relations". Ir.zipcar.com. Retrieved October 15, 2013.
  5. ^ Mortimer, Jeff (December 20, 2010). "My Days as a Zipster". Automotive News.
  6. ^ "Avis to buy Zipcar for US$500-million". Financial Post. January 2, 2013. Retrieved February 8, 2021.
  7. ^ Greenfield, Rebecca (March 15, 2013). "Uh Oh, ZipCar's CEO Stepped Down Right After Its Merger with Avis". The Atlantic Wire.
  8. ^ "Zipcar Locations | Car Sharing Cities | Car Share Near Me". www.zipcar.com.
  9. ^ Mack, Ben (June 10, 2009). "Zipcar iPhone App Makes Car-Sharing A Breeze". Wired.
  10. ^ Cite error: The named reference Seattle Times 31OCT07 was invoked but never defined (see the help page).
  11. ^ "Avis Budget to buy Zipcar for $500 mln". Reuters. Retrieved January 2, 2013.
  12. ^ "Avis Budget Group Completes Acquisition of Zipcar". Archived from the original on April 12, 2013. Retrieved March 15, 2013.