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Zipcar

Headquarters: 25 First Street, 4th floor
Cambridge, MA 02142
Employees: 474
CEO: Scott Griffith
Stock Symbol: ZIP

Website: http://www.zipcar.com

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Zipcar operates the world's leading car sharing network in 14 major cities and 230 colleges nationwide.

Zipcar provides the freedom of "wheels when you want them" to over 560,000 members, known as "Zipsters." The company operates a fleet of over 8,000 vehicles in 14 major metropolitan areas and on more than 230 college campuses in the United States, Canada and the United Kingdom. Zipcar's self-service vehicles are available on-demand in conveniently located in reserved parking spots in neighborhoods where members live and work.

With Zipcar's service, reserving, accessing and using a Zipcar is as easy as getting cash from an ATM. In minutes or up to a year in advance, members can reserve Zipcars online, over the phone or by using their mobile device, 24 hours a day, seven days a week. Zipcar members have automated access to Zipcars using a keyless entry card (called a "Zipcard") to simply unlock the door and drive away. Zipsters choose the make, model, type and even the color of the Zipcar they want depending on their specific needs and desires for each trip and the available Zipcars in their neighborhood. Zipcar's all-inclusive rates start as low as $8.50 per hour and $66 per day, with gas, parking, insurance, up to 180 miles of driving per day, maintenance and roadside assistance included. Zipcar also offers frequent driver and business (Zipcar for Business) programs with additional discounts.

Zipcar offers more than 30 different models of cars from hybrids and BMWs to pickup trucks and SUVs. Anyone who is 21 years or older with a valid driver's license can apply to be a member.

The company went public in April 2011 on Nasdaq stock market at the price of $18 per share.

History

Zipcar was founded in 2000 and has focused on markets that have high parking costs, strong public transportation systems and large, dense populations. Based on these criteria, the company initially focused operations in three metropolitan areas: Boston, New York and Washington, D.C. These markets have since developed into active car sharing markets that continue to grow.

The company applied its knowledge and experience from operating in these markets to develop and grow additional markets, such as San Francisco, Chicago, Toronto, Vancouver and London. We further increased our geographic footprint to include Seattle, Portland, Atlanta, Philadelphia and Pittsburgh through a merger with Flexcar in 2007.

In April 2010, Zipcar expanded operations in the United Kingdom through the acquisition of Streetcar.

Updated April 23, 2011

 

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