January 8, 2013

Avis Buys Zipcar

Lot's of folks are wondering if Zipcar can make car ownership a thing of the past. What do you think? Have you driven a Zipcar? Does it make sense for folks who live in the burbs?
While Zipcar investors count their cash from today's half-billion-dollar acquisition by Avis, the rest of us can start counting the days until we can say good riddance to one of the least rewarding aspects of city life: car ownership.
Zipcar said that Avis had agreed to purchase the Cambridge, Mass.-based company for $12.25 per share, or about $500 million. The deal brings Avis the most prominent brand name in what Zipcar describes as the $400 million car-sharing market. The question is, will the added muscle of Avis be enough to take car-sharing mainstream?

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