What is "zipcar"

Zipcar is an American car-sharing company, a subsidiary of Avis Budget Group. Zipcar provides automobile reservations to its members, billable by the hour or day. Zipcar members pay a monthly or annual membership fee in addition to car reservations charges. Zipcar was founded in 2000 by Cambridge, Massachusetts, residents Antje Danielson and Robin Chase.

On March 14, 2013, Avis Budget Group purchased Zipcar for about million in cash. Zipcar operates as a subsidiary of Avis Budget Group. Scott Griffith, who had run the company for the previous 10 years, resigned the day after the acquisition closed, and passed the reins to a new company president, Mark Norman. In early 2014, Kaye Ceille took over as Zipcar's North American President.

As of June 2015, the company had more than 900,000 members and offers nearly 10,000 vehicles throughout the United States, Canada, the United Kingdom, Spain, France, Austria and Turkey, making Zipcar one of the world's leading car rental networks.

Members can reserve Zipcars with Zipcar's mobile app, online or by phone at any time, immediately or up to a year in advance. Zipcar members have automated access to Zipcars using an access card which works with the car's technology to unlock the door, where the keys are already located inside. Zipcar also offers an iPhone or Android application that allows members to honk the horn to locate a Zipcar and unlock the doors. Zipcar charges a one-time application fee, an annual fee, and a reservation charge. Fuel, parking, insurance, and maintenance are included in the price.

In the third quarter of 2007, Zipcar merged with Seattle-based rival Flexcar to create a nationwide car rental company. The company's IPO was in April 2011. Zipcar common stock traded on NASDAQ under the ticker symbol "ZIP" until it was acquired by Avis in 2013.