Zipcar to Be Acquired by Avis

January 2, 2013

6:42 pm

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.

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