Zipcar, founded in 2000, is a company that operates in urban areas and college campuses around the U.S., UK and Canada. Their product is one of ultimate convenience: For non-car-owning members, Zipcar rents out by the hour or the day more than 30 makes and models of self-service cars and trucks.
In its filing, Zipcar said it would use funds gained in the $75 million IPO for debt remittance and "general corporate purposes." Goldman Sachs and J.P. Morgan will be handling the offering and issuing preliminary prospecti to interested parties.
The company was given around $10 million in venture capital by Greylock Partners and Benchmark Capital, among others, in 2005. It has yet to turn a profit. Zipcar merged with Flexcar, a similar service, in October 2007. It also acquired UK-based car-sharing company Streetcar in April 2010.
[img credit: rakka]