Zipcar to Be Acquired by Avis
Jan 2, 2013
Zipcar, the popular car sharing service founded by Robin Chase, is getting acquired by Avis Budget Group. Avis has agreed to purchase the company for $12.25 per share, totalling around $500 million. Steve Case, who was one of the earliest investors, holds a 20 percent stake in the car sharing company and will make nearly $100 million on the deal. Source: Zipcar.