-
Hertz on Demand and Zipcar face off over corporate car-sharing leadership
DigitalIf the big money in the car-sharing sector will eventually be in business travel, then both Hertz on Demand and AvisBudget’s Zipcar are starting to position themselves to cash in. Herz announced today that its subsidiary, Hertz on Demand, “is now serving as the operator of Lufthansa CarPool for the airline’s employees, making Hertz the [...]
-
Zipcar feeling Avis Budget vibe with expansion to first airports
TransportJust days after officially becoming part of Avis Budget Group following the closing of the acquisition, Zipcar was showing off the advantages of the affiliation as it expanded to its first airports. You can now find Zipcars at JFK, LaGuardia and Newark airports and company is using spaces at Avis Car Rental pick-up facilities at [...]
-
Zipcar CEO leaves the day after $500 million buyout deal with Avis closes
TransportZipcar’s CEO Scott Griffith announced his resignation today, the day after Avis completed its $500 million acquisition of the car-sharing service he joined in start-up mode back in 2003. Fortune.com: It’s obviously not unusual for leadership changes after a merger, but it’s a bit odd that neither Avis nor ZipCar announced that such a move was coming (such [...]
-
Zipcar a breath of fresh air for smaller and smaller U.S. cities
TransportWhen his car died more than a year ago, local architect Glenn Richters decided that he didn’t want to buy another one. Getting around without his own vehicle has sometimes been a challenge, though. Showing up for a business meeting in his daughter’s Toyota Camry — with 200,000 miles on the odometer — isn’t ideal, [...]
-
Zipcar’s Q4 profits triple before its pending acquisition by Avis
TransportZipcar’s profit more than tripled ahead of its pending acquisition by Avis Budget Group as the car-sharing company recorded strong revenue was also helped by a large tax benefit. For Q4, Zipcar reported a profit of $13.8 million, or 34 cents a share, versus $3.9 million, or nine cents a share, a year earlier. Revenue [...]
-
Avis Budget acquisition of Zipcar expected to steer clear of antitrust roadblocks
TransportWhen car rental giant Avis announced in early January that it planned to buy Zipcar, hipsters across the United States gnashed their teeth in unison. But an informal poll by Reuters of nine antitrust experts, many of whom lamented the deal privately for the feared loss of a lively upstart, found that eight of the [...]
-
Zipcar investor sues to block Avis Budget deal
DigitalZipcar Inc. was sued by an investor who claims that Avis Budget Group Inc.’s takeover offer for the short-term car rental company is inadequate. The $491 million sale to Avis Budget shortchanges Zipcar shareholders, Martin Bertisch alleged in a complaint filed January 8 in Delaware Chancery Court in Wilmington. Zipcar’s board failed to take all [...]
-
Zipcar tells employees why it went corporate with Avis Budget
TransportFounded a dozen years ago, car-sharing service Zipcar, which will be acquired by Avis Budget Group for $500 million, is now actively explaining to its employees why it’s likely leaving startup culture behind and going corporate. In an employee FAQ, posted on the SEC site yesterday, the questions that top the list are: “Why are [...]
-
Analysis: Zipcar to expand to airports and embrace business travel under Avis Budget ownership
TransportAvis Budget Group plans to expand Zipcar availability at airports during peak-demand periods, and will also offer one-way Zipcar service to and from airports. It’s a graduation of sorts for Zipcar, which offers car-sharing services on more than 300 college campuses, and 20 metropolitan areas in North America and Europe. Following news of Avis Budget’s $500 [...]
-
Car-share pioneer Zipcar goes to Avis for $500 million
TransportAvis Budget Group Inc. agreed to buy U.S. car-sharing company Zipcar Inc. for $491 million, targeting consumers looking for an alternative to owning their own auto. Zipcar’s board agreed to a bid of $12.25 a share, the Parsippany, New Jersey-based Avis Budget’s said today in a statement. The offer, which has been accepted by holders [...]
