Zipcar Going IPO

Our beloved Zipcar we have been driving around DC,   filed for initial public offering (IPO) with the Securities and Exchange Commission (SEC) yesterday to raise up to $75 million to cover their debt. Ouch!

Those of you still have some cash left, I urge you to buy their stock as I think their business model is the future of our transportation. Not to mention their model is also the new way of living green.

The company, which plans to trade on the Nasdaq under the symbol “ZIP,” did not disclose details such as the number of shares of their expected price range. Zipcar, which in 2007 acquired rival Flexcar from Revolution, currently, operates 6,500 cars in more than 50 U.S. cities, including more than 750 in the DC area.

Steve Case’s DC-based Revolution investment firm, Benchmark Capital Partners, Greylock Partners and Smedvig Capital hold a notable stake in the company. Read more of this post