Boston, MA -- (ReleaseWire) -- 01/23/2014 -- Zipcar, Inc. operates a car sharing network, providing self-service vehicles, by the hour or by the day. It entered the market in its very early stages and rapidly expanded through mergers, acquisitions and strategic partnerships, to become the global leader. Despite its strong membership and revenue growth, it failed to turn a profit and in 2013 it was acquired by Avis Budget Group.
Features and benefits
- Analysis of car sharing market, including its revenue and membership growth, outlook, main competitors and factors impacting on its growth prospects.
- Analysis of Zipcar's business model and revenues.
- Analysis of Zipcar's acquisition by Avis and its implications for the further development of car sharing and car rental services.
The global car sharing market is expanding at a fast rate and represents significant revenue opportunities. Encouraged by rapid market growth, traditional car rental companies have introduced their own car sharing services and are now competing with smaller car sharing companies, car manufacturers, P2P services, as well as private individuals.
Zipcar's revenue more than doubled between 2008 and 2012 and its membership has increased significantly. Its innovative business model began to threaten incumbents with traditional, rental operations.
In 2103, Zipcar was acquired by Avis for $500.0m. Zipcar's revenue after acquisition is expected to grow by up to $20.0m. Zipcar owners were able to cash out at a 50.0% premium, showing how eager Avis is to make an impact in the car sharing industry.
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Your key questions answered
- What is car sharing market and how fast is it growing? How much is the global car sharing market worth? Who are the main competitors?
- What are the main factors impacting the car sharing market development?
- What are Zipcar's advantages? How did it enter the car sharing market and expanded its market share?
- What is Zipcar's revenue and why did it fail to return profits?
- What are the implications of its acquisition by Avis for the global car sharing market?
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