Car sharing network operator Zipcar this morning announced the exercise of its option to purchase a majority ownership interest in Barcelona-based Catalunya Carsharing, better known as Avancar, after investing in the company almost exactly two years ago.
In fact, the option had been extended for an extra year after Zipcar decided last year it wouldn’t yet exercise it, opting instead to give… → Read More
Carsharing service ZipCar began the morning of its IPO trading at $18 a share and is now up to $27.96, a rise of over 50%. Based on its 38.6M total shares this means that it is now a billion dollar company (Congrats ZipCar!). Zipcar has raised $174 million in its IPO , surpassing its original target of $75 million.
The Massachusetts-based ZipCar provides it over 560,000 members with self-service… → Read More
Zipcar, a membership-based car-sharing service that enables members to reserve a car via the Web, phone or an iPhone app, this morning announced the addition of former eBay CEO Meg Whitman to its board of directors. She will be replacing long-time Zipcar investor and board member Jim Gerson, who is giving up his seat.
Car-sharing service company Zipcar this morning announced that it has raised $21 million in Series G funding. Meritech Capital Partners led the round with a $20 million investment, while Pinnacle Ventures contributed the additional $1 million.
Zipcar didn’t detail what it plans to do with the fresh capital, other than to say it intends to use the proceeds to fund working capital needs and finance… → Read More
Most consumer Internet startups fall into a baker’s dozen of possible business models. In the first part of this post, I tried to lay out the three main buckets those business models fall into (media, paid service… → Read More
After a better-than-expected pop on the first day of its IPO, Tesla’s stock (under the ticker symbol TSLA) started to slide a few days after. It is now hanging 7 percent below its initial pricing of $17, closing at $15.80 per share today.
Only a week on the market, Tesla’s stock has fluctuated greatly, trading at a high of $30.42 and dropping to a low of $14.98. While some hoped Tesla would… → Read More
The number of shares to be offered and the price range for the offering have not yet been determined, but the filing reveals a target of $75 million. → Read More
Car sharing service company Zipcar today announced that it has acquired Streetcar, a similar venture that operates in the UK out of London. The terms of the acquisition were not disclosed, but the Wall Street Journal says the deal is valued at $50 million.
The two companies will now be folded into one entity and soon operate solely under the Zipcar flag. → Read More
Sometimes even a do-gooder company flubs something badly enough that it deserves to take some crap. So I give that honor to Zipcar, which over the past few months brilliantly and boldly promoted its iPhone app even though, for all practical purposes, it didn’t exist.
Zipcar is running a promotion (unfortunately, they’re no longer accepting applications) called the Low-Car Diet that basically entails giving up your car for a month. In return, participants get free public transportation passes, a free Zipcar membership and driving credit, and other various perks. If you live in a populated area and you don’t own a car, I’d recommend the service. You… → Read More