Zipcar
Encyclopedia
Zipcar is an American membership-based car sharing company providing automobile
reservations to its members, billable by the hour or day. Zipcar was founded in 2000 by Cambridge, Massachusetts
residents Antje Danielson and Robin Chase
, and is now led by Scott Griffith
, Chairman and Chief Executive Officer. As of December 2010, the company offers a fleet
of over 9,000 vehicles in urban area
s throughout 28 North America
n states and provinces, as well as in the United Kingdom
. As of September 2011, it has 650,000 members which the company refers to as "Zipsters". Zipcar offers more than 30 makes and models of self-service vehicles by the hour or day. Zipcar has major operations in Atlanta, Baltimore
, Boston
, Chicago
, London
, New York
, Philadelphia, Pittsburgh, Portland
, San Francisco, Seattle, Toronto
, Washington D.C. and Vancouver
. The company also has presence on over 230 college campuses.
Members can reserve Zipcars online or by phone, 24 hours a day, seven days a week. Reservations can be made minutes or up to a year in advance. Zipcar members have automated access to Zipcars using an access card called a “Zipcard,” 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, recognized by Time magazine as one of the "Best Travel Gadgets of 2009," that allows members to honk the horn to locate a Zipcar and unlock the doors. Zipcar charges a one-time application fee of $25, and an annual fee of $60, depending on the market, and reservation rates start from $7.50 per hour and $56 per day. Rate prices vary by market, time of day, day of the week and the make and model of the vehicle being reserved. Gas, parking, insurance, and maintenance are included in the price.
In the fall of 2007, Zipcar merged with Seattle-based rival Flexcar
to create a car-sharing company with national scope. In December 2009, Zipcar announced their participation in a round of financing with the existing owners of Catalunya Carsharing S.A., a Spanish limited liability company, known as Avancar, based in Barcelona. Under the terms of the agreement, Zipcar acquired a minority interest in Avancar, a Zipcar executive joined Avancar's board and Zipcar was given a year option to increase the company's ownership stake. In December 2010, Zipcar extended their option for another year, through the end of 2011, and provided a monetary loan to Avancar, which is convertible into equity if Zipcar chooses to exercise the option. In April 2010, Zipcar bought London-based car-sharing firm Streetcar
in its latest bid to expand across Europe. The company's IPO was in April
2011.
Members, which the company calls "Zipsters", are able to view vehicle availability and reserve a self-service car via the internet, iPhone
and Android applications, or telephone, in increments as short as one hour and pay only for time they reserve. Zipcar vehicles report their positions to a control center using in-car technology. In the U.S., each reservation entitles the members up to 180 miles (289.7 km) for each 24 hour period, while Canadian members receive up to 200 kilometers with each reservation for the first 24 hours, and 15 kilometers per each additional hour beyond the initial 24. Individual members can sign up for one of two different plans, the "Occasional Driving Plan" and the "Extra Value Plan".
Members are given a "Zipcard," an access card containing a wireless chip that will open the vehicle they have reserved only at the time they have reserved it. The reservation includes driver's insurance
, a gas
card for the car, reimbursements for fuel obtained at gas stations
that do not accept the included gas card, and up to $15 in reimbursements for typical car maintenance items like car washes and window wiper fluid refills. A member can reserve and use a Zipcar in any Zipcar city.
Zipcar launched FastFleet by Zipcar in April 2009. FastFleet is a new service that enables government and other fleet managers to save money, reduce risk and promote sustainability by optimizing their fleets. With FastFleet, fleet operators can leverage the same technology that powers Zipcar’s consumer fleet, resulting in fewer cars needed, better data about utilization and better tracking of costs. Washington, D.C., which is the first city in the country to adopt the system, estimated savings of more than $1 million in the first 12 months.
s, Volvo
s, MINI Coopers, Prius Hybrids, pickup trucks and more. Each vehicle has a home location: a reserved parking space located on a street, driveway or neighborhood parking lot in the member's area, to which it must be returned at the end of the reservation. The locations of all Zipcars and models available at those locations are available at the Zipcar website.
by paying either an hourly or daily rate, which includes the cost of fuel, insurance, and 180 miles. Initially launching as a pilot project in San Francisco, Zipvan plans to offer roughly 15 vans in San Francisco and Oakland by early 2012, with further expansion to other Zipcar cities possible depending on member response.
data
link. The location of the vehicles is not tracked during a reservation for privacy reasons but is trackable and all cars are equipped with a "kill" function that allows the company to prevent the car from starting in the event of theft (it does not cause the car to turn off, for safety reasons). Zipcar also offers the embedded Information Technologies
it has installed in its fleet as a fleet optimization service through its FastFleet service.
. This pilot is a partnership between Zipcar and the City of San Francisco. The vehicle showcased during the announcement was a Toyota Prius
converted for plug-in capabilities with range of up to 30–40 miles of electrically assisted driving on a single charge. The program is aimed to provide Zipcar members with a convenient and cost-effective way to test drive PHEVs. The city installed a plug-in charging stations in front of San Francisco City Hall
that can be used by the existing fleet of municipal plug-in vehicles and also for plug-in hybrids available through Zipcar and City CarShare.
As part of the demonstration program being carried out by Toyota Motor Corporation
since 2009, the carmaker delivered eight pre-production Prius Plug-in Hybrids to Zipcar in January 2011. Three markets were selected to make the plug-in hybrids available to its members, Boston
and Cambridge, Massachusetts
with three cars, another three in San Francisco, California
, and two in Portland, Oregon
. Similarly to many hybrid
s in Zipcar’s fleet, the Prius PHEVs can only be reserved by the hour at an hourly rate of .
based on existing German and Swiss companies (see also Mobility CarSharing) in January 2000. In June 2000, the first Zipcars hit the road around Boston, MA. In September 2001, the Washington, D.C.
office opened. In February 2002, New York City
office opened In February 2003, Scott Griffith
replaces Robin Chase
as CEO. In April 2005, Zipcar partners with XM Satellite Radio
to provide satellite radio
in all Zipcars. In July 2005, Zipcar secures $10 million in funding led by Benchmark Capital
. In August 2005, San Francisco office opened. In May 2006, Toronto
office opened. In May 2006, General Electric
's Commercial Finance Fleet Services gives Zipcar $20 million in lease line financing. In September 2006, Toronto market is named fastest growing new market in company history. In November 2006, London
office opened. In April 2007, Vancouver
office opened. In May 2007, XM Satellite Radio
ends partnership with Zipcar and radios will not be available in Zipcars any longer. In October 2007, Zipcar and Flexcar
executives announce a merger of the two companies, with the Zipcar brand and headquarters replacing that of Flexcar.
On January 23, 2008, the merged Zipcar/Flexcar canceled service for the Southern California cities of Los Angeles and San Diego without providing advanced notice to customers in those areas. Southern California college operations are left intact. On July 11, 2008, Zipcar announces it doubled membership in past year, including the Flexcar members it acquired, and now has 225,000 members On August 28, 2008, Rice University
announced the introduction into the program in their goal of achieving as low of a carbon footprint as possible while providing additional transportation options for employees that carpool. On April 8, 2009, announced a partnership with Zimride
to allow Zipcar members to automatically post rides for carpooling on Zimride. On June 8, 2009, announced iPhone application at the Apple World Wide Developer Conference. The application is capable of honking the horn and unlocking some Zipcars. On June 1, 2010, filed with the SEC to raise up to $75 million in an initial public offering.
The company debuted on the NASDAQ (ZIP) on April 14, 2011 after raising $174 million in its IPO, more than expected.
announced their intentions to merge. The merged company retained the name "Zipcar" and is headquartered in Cambridge, Massachusetts. Zipcar's chief executive, former Seattle-based Boeing
engineer Scott Griffith
, is Chairman and CEO. Flexcar CEO Mark Norman is President and Chief Operating Officer. The merger combined Zipcar's fleet of 3,500 vehicles in 35 markets with Flexcar's 1,500 cars in 15 markets.
In December 2009, Zipcar announced their participation in a round of financing with Avancar, the largest car sharing company in Spain, based in Barcelona. Under the terms of the agreement, Zipcar acquired a minority interest in Avancar, a Zipcar executive joined Avancar's board and Zipcar was given a year option to increase the company's ownership stake. In December 2010, Zipcar extended their option for another year through the end of 2011, and provided a monetary loan to Avancar, which is convertible into equity if Zipcar chooses to exercise the option.
In April 2010, Zipcar announced that it had acquired London-based car-sharing club Streetcar
. This brought the number of Zipcar members to over 400,000.
Zipcar provides $300,000 per accident in liability coverage for members over 21 years of age. Members at fault are responsible for the first $750 of costs related to the repair, recovery, and loss of use of any Zipcar vehicle.. However, members can purchase no-liability insurance for an additional $75 a year. Members involved in accidents where fault is not determined (such as in a hit and run), must pay the first $750 of these costs. In other words, if the member is at fault in an accident, or it is a no-fault accident, Zipcar will cover from $750 up to $300,000 in property damage or bodily injury. For members under 21, Zipcar provides insurance coverage at state-mandated levels.
Insurance coverage may vary depending on the region of use. For example, Canadian members in Toronto, ON are provided with $1,000,000 in liability coverage. Vancouver, BC members are provided with $2,000,000 in liability coverage. Both regions in Canada also include comprehensive and collision coverage in addition to liability insurance. It should also be noted that Zipcars traveling into Canada from the U.S. requires members to obtain a special insurance card from Zipcar. Canadian Zipcars traveling into the U.S. do not need the extra insurance card.
London, UK members are covered by a full comprehensive loss, and unlimited personal injury / bodily injury liability policy. Third party liability is covered up to a maximum of £20,000,000. Similar to Zipcar U.S., traveling abroad requires a special 'vehicle on-hire' certificate which can be obtained from Zipcar.
Automobile
An automobile, autocar, motor car or car is a wheeled motor vehicle used for transporting passengers, which also carries its own engine or motor...
reservations to its members, billable by the hour or day. Zipcar was founded in 2000 by Cambridge, Massachusetts
Cambridge, Massachusetts
Cambridge is a city in Middlesex County, Massachusetts, United States, in the Greater Boston area. It was named in honor of the University of Cambridge in England, an important center of the Puritan theology embraced by the town's founders. Cambridge is home to two of the world's most prominent...
residents Antje Danielson and Robin Chase
Robin Chase
Robin Chase is the founder and CEO of Buzzcar, a peer-to-peer car sharing service. She is co-founder and former CEO of Zipcar, an innovative car sharing service. She also started GoLoco.org, a venture combining online carpooling and social networking...
, and is now led by Scott Griffith
Scott Griffith
Scott Griffith is the Chairman and Chief Executive Officer of Zipcar, Inc. since February 2003.Scott earned his BS in engineering from Carnegie Mellon University in 1981 and his MBA from the University of Chicago Booth School of Business in 1990....
, Chairman and Chief Executive Officer. As of December 2010, the company offers a fleet
Fleet
-Vehicles:A fleet is a collection of ships or vehicles, with many specific connotations:*Fleet vehicles, two or more vehicles*Fishing fleet*Naval fleet, substantial group of warships*A group of small ships or flotilla...
of over 9,000 vehicles in urban area
Urban area
An urban area is characterized by higher population density and vast human features in comparison to areas surrounding it. Urban areas may be cities, towns or conurbations, but the term is not commonly extended to rural settlements such as villages and hamlets.Urban areas are created and further...
s throughout 28 North America
North America
North America is a continent wholly within the Northern Hemisphere and almost wholly within the Western Hemisphere. It is also considered a northern subcontinent of the Americas...
n states and provinces, as well as in the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
. As of September 2011, it has 650,000 members which the company refers to as "Zipsters". Zipcar offers more than 30 makes and models of self-service vehicles by the hour or day. Zipcar has major operations in Atlanta, Baltimore
Baltimore
Baltimore is the largest independent city in the United States and the largest city and cultural center of the US state of Maryland. The city is located in central Maryland along the tidal portion of the Patapsco River, an arm of the Chesapeake Bay. Baltimore is sometimes referred to as Baltimore...
, Boston
Boston
Boston is the capital of and largest city in Massachusetts, and is one of the oldest cities in the United States. The largest city in New England, Boston is regarded as the unofficial "Capital of New England" for its economic and cultural impact on the entire New England region. The city proper had...
, Chicago
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
, London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, New York
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
, Philadelphia, Pittsburgh, Portland
Portland, Oregon
Portland is a city located in the Pacific Northwest, near the confluence of the Willamette and Columbia rivers in the U.S. state of Oregon. As of the 2010 Census, it had a population of 583,776, making it the 29th most populous city in the United States...
, San Francisco, Seattle, Toronto
Toronto
Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...
, Washington D.C. and Vancouver
Vancouver
Vancouver is a coastal seaport city on the mainland of British Columbia, Canada. It is the hub of Greater Vancouver, which, with over 2.3 million residents, is the third most populous metropolitan area in the country,...
. The company also has presence on over 230 college campuses.
Members can reserve Zipcars online or by phone, 24 hours a day, seven days a week. Reservations can be made minutes or up to a year in advance. Zipcar members have automated access to Zipcars using an access card called a “Zipcard,” which works with the car's technology to unlock the door, where the keys are already located inside. Zipcar also offers an iPhone
IPhone
The iPhone is a line of Internet and multimedia-enabled smartphones marketed by Apple Inc. The first iPhone was unveiled by Steve Jobs, then CEO of Apple, on January 9, 2007, and released on June 29, 2007...
or Android application, recognized by Time magazine as one of the "Best Travel Gadgets of 2009," that allows members to honk the horn to locate a Zipcar and unlock the doors. Zipcar charges a one-time application fee of $25, and an annual fee of $60, depending on the market, and reservation rates start from $7.50 per hour and $56 per day. Rate prices vary by market, time of day, day of the week and the make and model of the vehicle being reserved. Gas, parking, insurance, and maintenance are included in the price.
In the fall of 2007, Zipcar merged with Seattle-based rival Flexcar
Flexcar
-External links:***...
to create a car-sharing company with national scope. In December 2009, Zipcar announced their participation in a round of financing with the existing owners of Catalunya Carsharing S.A., a Spanish limited liability company, known as Avancar, based in Barcelona. Under the terms of the agreement, Zipcar acquired a minority interest in Avancar, a Zipcar executive joined Avancar's board and Zipcar was given a year option to increase the company's ownership stake. In December 2010, Zipcar extended their option for another year, through the end of 2011, and provided a monetary loan to Avancar, which is convertible into equity if Zipcar chooses to exercise the option. In April 2010, Zipcar bought London-based car-sharing firm Streetcar
Streetcar (carsharing)
Streetcar was the largest car sharing company in the United Kingdom, which merged with zipcar in late 2010. This article discusses Streetcars operations prior to the merger;...
in its latest bid to expand across Europe. The company's IPO was in April
April
April is the fourth month of the year in the Julian and Gregorian calendars, and one of four months with a length of 30 days. April was originally the second month of the Roman calendar, before January and February were added by King Numa Pompilius about 700 BC...
2011.
Membership details
IPhone
The iPhone is a line of Internet and multimedia-enabled smartphones marketed by Apple Inc. The first iPhone was unveiled by Steve Jobs, then CEO of Apple, on January 9, 2007, and released on June 29, 2007...
and Android applications, or telephone, in increments as short as one hour and pay only for time they reserve. Zipcar vehicles report their positions to a control center using in-car technology. In the U.S., each reservation entitles the members up to 180 miles (289.7 km) for each 24 hour period, while Canadian members receive up to 200 kilometers with each reservation for the first 24 hours, and 15 kilometers per each additional hour beyond the initial 24. Individual members can sign up for one of two different plans, the "Occasional Driving Plan" and the "Extra Value Plan".
Members are given a "Zipcard," an access card containing a wireless chip that will open the vehicle they have reserved only at the time they have reserved it. The reservation includes driver's insurance
Vehicle insurance
Vehicle insurance is insurance purchased for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage and/or bodily injury resulting from traffic collisions and against liability that could also arise therefrom...
, a gas
Gasoline
Gasoline , or petrol , is a toxic, translucent, petroleum-derived liquid that is primarily used as a fuel in internal combustion engines. It consists mostly of organic compounds obtained by the fractional distillation of petroleum, enhanced with a variety of additives. Some gasolines also contain...
card for the car, reimbursements for fuel obtained at gas stations
Filling station
A filling station, also known as a fueling station, garage, gasbar , gas station , petrol bunk , petrol pump , petrol garage, petrol kiosk , petrol station "'servo"' in Australia or service station, is a facility which sells fuel and lubricants...
that do not accept the included gas card, and up to $15 in reimbursements for typical car maintenance items like car washes and window wiper fluid refills. A member can reserve and use a Zipcar in any Zipcar city.
University, organization and business partnerships
Zipcar launched its Zipcar for Business program in early 2004 to provide companies with discounts on Monday-Friday driving. Since the launch of the program, Zipcar has signed 10,000 small, medium, and large sized businesses, as companies are increasingly adopting car sharing as a cost-saving alternative for employee travel. Zipcar also provides campus car sharing in North America, and more than 225 colleges have made car sharing available on campus through partnerships with Zipcar.Zipcar launched FastFleet by Zipcar in April 2009. FastFleet is a new service that enables government and other fleet managers to save money, reduce risk and promote sustainability by optimizing their fleets. With FastFleet, fleet operators can leverage the same technology that powers Zipcar’s consumer fleet, resulting in fewer cars needed, better data about utilization and better tracking of costs. Washington, D.C., which is the first city in the country to adopt the system, estimated savings of more than $1 million in the first 12 months.
Zipcar fleet
Zipcar offers more than 30 makes and models of vehicles, including BMWBMW
Bayerische Motoren Werke AG is a German automobile, motorcycle and engine manufacturing company founded in 1916. It also owns and produces the Mini marque, and is the parent company of Rolls-Royce Motor Cars. BMW produces motorcycles under BMW Motorrad and Husqvarna brands...
s, Volvo
Volvo
AB Volvo is a Swedish builder of commercial vehicles, including trucks, buses and construction equipment. Volvo also supplies marine and industrial drive systems, aerospace components and financial services...
s, MINI Coopers, Prius Hybrids, pickup trucks and more. Each vehicle has a home location: a reserved parking space located on a street, driveway or neighborhood parking lot in the member's area, to which it must be returned at the end of the reservation. The locations of all Zipcars and models available at those locations are available at the Zipcar website.
Zipvan
On November 29, 2011, Zipcar announced the launch of Zipvan, a van sharing service closely modeled off its existing car sharing platform. Zipvan allows Zipcar members to share Ford E-150 cargo vansFord E-Series
The Ford E-Series, formerly known as the Econoline or Club Wagon, is a line of full-size vans and truck chassis from the Ford Motor Company. The E-Series is related to the Ford F-Series line of pickup trucks. The line was introduced in 1961 as a compact van and its descendants are still produced...
by paying either an hourly or daily rate, which includes the cost of fuel, insurance, and 180 miles. Initially launching as a pilot project in San Francisco, Zipvan plans to offer roughly 15 vans in San Francisco and Oakland by early 2012, with further expansion to other Zipcar cities possible depending on member response.
Embedded technologies
Zipcars have RFID transponders located on the windshield that communicates with the card to lock and unlock the doors of the vehicle. Each vehicle records hours of usage and mileage, which is uploaded to a central computer via a wirelessWireless
Wireless telecommunications is the transfer of information between two or more points that are not physically connected. Distances can be short, such as a few meters for television remote control, or as far as thousands or even millions of kilometers for deep-space radio communications...
data
Data
The term data refers to qualitative or quantitative attributes of a variable or set of variables. Data are typically the results of measurements and can be the basis of graphs, images, or observations of a set of variables. Data are often viewed as the lowest level of abstraction from which...
link. The location of the vehicles is not tracked during a reservation for privacy reasons but is trackable and all cars are equipped with a "kill" function that allows the company to prevent the car from starting in the event of theft (it does not cause the car to turn off, for safety reasons). Zipcar also offers the embedded Information Technologies
Information technology
Information technology is the acquisition, processing, storage and dissemination of vocal, pictorial, textual and numerical information by a microelectronics-based combination of computing and telecommunications...
it has installed in its fleet as a fleet optimization service through its FastFleet service.
Plug-in vehicles
In February 2009 a pilot project was launched to promote plug-in hybrid vehicles in Zipcar's fleet in the San Francisco Bay AreaSan Francisco Bay Area
The San Francisco Bay Area, commonly known as the Bay Area, is a populated region that surrounds the San Francisco and San Pablo estuaries in Northern California. The region encompasses metropolitan areas of San Francisco, Oakland, and San Jose, along with smaller urban and rural areas...
. This pilot is a partnership between Zipcar and the City of San Francisco. The vehicle showcased during the announcement was a Toyota Prius
Toyota Prius
The Toyota Prius is a full hybrid electric mid-size hatchback, formerly a compact sedan developed and manufactured by the Toyota Motor Corporation...
converted for plug-in capabilities with range of up to 30–40 miles of electrically assisted driving on a single charge. The program is aimed to provide Zipcar members with a convenient and cost-effective way to test drive PHEVs. The city installed a plug-in charging stations in front of San Francisco City Hall
San Francisco City Hall
San Francisco City Hall, re-opened in 1915, in its open space area in the city's Civic Center, is a Beaux-Arts monument to the City Beautiful movement that epitomized the high-minded American Renaissance of the 1880s to 1917. The structure's dome is the fifth largest in the world...
that can be used by the existing fleet of municipal plug-in vehicles and also for plug-in hybrids available through Zipcar and City CarShare.
As part of the demonstration program being carried out by Toyota Motor Corporation
Toyota Motor Corporation
, , , commonly known simply as Toyota and abbreviated as TMC, is a multinational automaker headquartered in Toyota, Aichi, Japan. In 2010, Toyota Motor Corporation employed 317,734 people worldwide, and was the world's largest automobile manufacturer by production.The company was founded by...
since 2009, the carmaker delivered eight pre-production Prius Plug-in Hybrids to Zipcar in January 2011. Three markets were selected to make the plug-in hybrids available to its members, Boston
Boston
Boston is the capital of and largest city in Massachusetts, and is one of the oldest cities in the United States. The largest city in New England, Boston is regarded as the unofficial "Capital of New England" for its economic and cultural impact on the entire New England region. The city proper had...
and Cambridge, Massachusetts
Cambridge, Massachusetts
Cambridge is a city in Middlesex County, Massachusetts, United States, in the Greater Boston area. It was named in honor of the University of Cambridge in England, an important center of the Puritan theology embraced by the town's founders. Cambridge is home to two of the world's most prominent...
with three cars, another three in San Francisco, California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
, and two in Portland, Oregon
Portland, Oregon
Portland is a city located in the Pacific Northwest, near the confluence of the Willamette and Columbia rivers in the U.S. state of Oregon. As of the 2010 Census, it had a population of 583,776, making it the 29th most populous city in the United States...
. Similarly to many hybrid
Hybrid electric vehicle
A hybrid electric vehicle is a type of hybrid vehicle and electric vehicle which combines a conventional internal combustion engine propulsion system with an electric propulsion system. The presence of the electric powertrain is intended to achieve either better fuel economy than a conventional...
s in Zipcar’s fleet, the Prius PHEVs can only be reserved by the hour at an hourly rate of .
History
Zipcar was co-founded by Antje Danielson and Robin ChaseRobin Chase
Robin Chase is the founder and CEO of Buzzcar, a peer-to-peer car sharing service. She is co-founder and former CEO of Zipcar, an innovative car sharing service. She also started GoLoco.org, a venture combining online carpooling and social networking...
based on existing German and Swiss companies (see also Mobility CarSharing) in January 2000. In June 2000, the first Zipcars hit the road around Boston, MA. In September 2001, the Washington, D.C.
Washington, D.C.
Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution....
office opened. In February 2002, New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
office opened In February 2003, Scott Griffith
Scott Griffith
Scott Griffith is the Chairman and Chief Executive Officer of Zipcar, Inc. since February 2003.Scott earned his BS in engineering from Carnegie Mellon University in 1981 and his MBA from the University of Chicago Booth School of Business in 1990....
replaces Robin Chase
Robin Chase
Robin Chase is the founder and CEO of Buzzcar, a peer-to-peer car sharing service. She is co-founder and former CEO of Zipcar, an innovative car sharing service. She also started GoLoco.org, a venture combining online carpooling and social networking...
as CEO. In April 2005, Zipcar partners with XM Satellite Radio
XM Satellite Radio
XM Satellite Radio is one of two satellite radio services in the United States and Canada, operated by Sirius XM Radio. It provides pay-for-service radio, analogous to cable television. Its service includes 73 different music channels, 39 news, sports, talk and entertainment channels, 21 regional...
to provide satellite radio
Satellite radio
Satellite radio is an analogue or digital radio signal that is relayed through one or more satellites and thus can be received in a much wider geographical area than terrestrial FM radio stations...
in all Zipcars. In July 2005, Zipcar secures $10 million in funding led by Benchmark Capital
Benchmark Capital
Benchmark Capital is a venture capital firm responsible for the early stage funding of some very successful startups. In 1997, the firm invested $6.7 million in eBay, which became worth more than $5 billion by the spring of 1999. Other high-profile investments include Ariba, Juniper Networks, Red...
. In August 2005, San Francisco office opened. In May 2006, Toronto
Toronto
Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...
office opened. In May 2006, General Electric
General Electric
General Electric Company , or GE, is an American multinational conglomerate corporation incorporated in Schenectady, New York and headquartered in Fairfield, Connecticut, United States...
's Commercial Finance Fleet Services gives Zipcar $20 million in lease line financing. In September 2006, Toronto market is named fastest growing new market in company history. In November 2006, London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
office opened. In April 2007, Vancouver
Vancouver
Vancouver is a coastal seaport city on the mainland of British Columbia, Canada. It is the hub of Greater Vancouver, which, with over 2.3 million residents, is the third most populous metropolitan area in the country,...
office opened. In May 2007, XM Satellite Radio
XM Satellite Radio
XM Satellite Radio is one of two satellite radio services in the United States and Canada, operated by Sirius XM Radio. It provides pay-for-service radio, analogous to cable television. Its service includes 73 different music channels, 39 news, sports, talk and entertainment channels, 21 regional...
ends partnership with Zipcar and radios will not be available in Zipcars any longer. In October 2007, Zipcar and Flexcar
Flexcar
-External links:***...
executives announce a merger of the two companies, with the Zipcar brand and headquarters replacing that of Flexcar.
On January 23, 2008, the merged Zipcar/Flexcar canceled service for the Southern California cities of Los Angeles and San Diego without providing advanced notice to customers in those areas. Southern California college operations are left intact. On July 11, 2008, Zipcar announces it doubled membership in past year, including the Flexcar members it acquired, and now has 225,000 members On August 28, 2008, Rice University
Rice University
William Marsh Rice University, commonly referred to as Rice University or Rice, is a private research university located on a heavily wooded campus in Houston, Texas, United States...
announced the introduction into the program in their goal of achieving as low of a carbon footprint as possible while providing additional transportation options for employees that carpool. On April 8, 2009, announced a partnership with Zimride
Zimride
Zimride is an online carpooling and ridesharing service that focuses on existing communities at colleges, universities and corporations. The service integrates user profiles with Facebook and allows users to limit their matches to members of a private community.- History :Zimride was started in...
to allow Zipcar members to automatically post rides for carpooling on Zimride. On June 8, 2009, announced iPhone application at the Apple World Wide Developer Conference. The application is capable of honking the horn and unlocking some Zipcars. On June 1, 2010, filed with the SEC to raise up to $75 million in an initial public offering.
The company debuted on the NASDAQ (ZIP) on April 14, 2011 after raising $174 million in its IPO, more than expected.
Expansion
On October 31, 2007 Zipcar and FlexcarFlexcar
-External links:***...
announced their intentions to merge. The merged company retained the name "Zipcar" and is headquartered in Cambridge, Massachusetts. Zipcar's chief executive, former Seattle-based Boeing
Boeing
The Boeing Company is an American multinational aerospace and defense corporation, founded in 1916 by William E. Boeing in Seattle, Washington. Boeing has expanded over the years, merging with McDonnell Douglas in 1997. Boeing Corporate headquarters has been in Chicago, Illinois since 2001...
engineer Scott Griffith
Scott Griffith
Scott Griffith is the Chairman and Chief Executive Officer of Zipcar, Inc. since February 2003.Scott earned his BS in engineering from Carnegie Mellon University in 1981 and his MBA from the University of Chicago Booth School of Business in 1990....
, is Chairman and CEO. Flexcar CEO Mark Norman is President and Chief Operating Officer. The merger combined Zipcar's fleet of 3,500 vehicles in 35 markets with Flexcar's 1,500 cars in 15 markets.
In December 2009, Zipcar announced their participation in a round of financing with Avancar, the largest car sharing company in Spain, based in Barcelona. Under the terms of the agreement, Zipcar acquired a minority interest in Avancar, a Zipcar executive joined Avancar's board and Zipcar was given a year option to increase the company's ownership stake. In December 2010, Zipcar extended their option for another year through the end of 2011, and provided a monetary loan to Avancar, which is convertible into equity if Zipcar chooses to exercise the option.
In April 2010, Zipcar announced that it had acquired London-based car-sharing club Streetcar
Streetcar (carsharing)
Streetcar was the largest car sharing company in the United Kingdom, which merged with zipcar in late 2010. This article discusses Streetcars operations prior to the merger;...
. This brought the number of Zipcar members to over 400,000.
Insurance
Insurance coverage may vary depending on the region of use. For example, Canadian members in Toronto, ON are provided with $1,000,000 in liability coverage. Vancouver, BC members are provided with $2,000,000 in liability coverage. Both regions in Canada also include comprehensive and collision coverage in addition to liability insurance. It should also be noted that Zipcars traveling into Canada from the U.S. requires members to obtain a special insurance card from Zipcar. Canadian Zipcars traveling into the U.S. do not need the extra insurance card.
London, UK members are covered by a full comprehensive loss, and unlimited personal injury / bodily injury liability policy. Third party liability is covered up to a maximum of £20,000,000. Similar to Zipcar U.S., traveling abroad requires a special 'vehicle on-hire' certificate which can be obtained from Zipcar.