Zipcar to Be Acquired by Avis, as Sharing Economy Goes Mainstream

Avis rental car company will acquire the car-share company Zipcar for $500 million, the companies announced today. Zipcar has been a standard-bearer for the sharing economy fueled by Internet technology, and the announced deal caused Avis to rise up among trending topics on Twitter.

Avis rental car company will acquire the car-share company Zipcar for $500 million, the companies announced today.

Zipcar, which went public in April 2011, has been a standard-bearer for the sharing economy fueled by Internet technology, and the announced deal caused Avis to rise up among trending topics on Twitter.

Car-sharing is now a $400-million business in the United States, according to Zipcar. The company faces expanding competition from newcomers such as Relay Rides, which allows individual car owners to lease their vehicles out when they’re not using them.

AW+

WORK SMARTER - LEARN, GROW AND BE INSPIRED.

Spring Special

Save 30% Off an ADWEEK Subscription Today!

View Your Options

Already a member? Sign in