Avis to Acquire Car Sharing Service Zipcar for $500M

[vtlambo]

I remember reading about Zipcar a while back about how two mothers started it with less than $100 in the bank. They sold their company for $500M today.

Car-sharing service Zipcar Inc. ZIP +48.36% changed the car-rental business, but its hourly rentals to young and more urban customers proved a lousy business.

Avis to Buy Car-Sharing Service Zipcar - WSJ.com

A bit on Zipcar:

Zipcar founders Antje Danielson and Robin Chase, both 42, met when their children attended the same kindergarten class. At the time, Chase, a stay-at-home mom who had a master's degree in business administration, wanted the flexibility that came from having her own business, while Danielson was looking into how other countries reduced car trips for a Harvard energy-research project.

Zipcar: Two Moms, a Business Idea and $68 in the Bank | Entrepreneur.com

 

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[nzerinto]

Thanks for sharing....what a fantastic story