Zipcar Files IPO with Car Sharing Forecasted for $6 Billion
By 2016, car sharing will be a $6 billion annual business according to forecasts by Frost & Sullivan. Zipcar’s IPO filing shows its market leadership with 400,000 members. An IPO would enable faster growth, other acquisitions, and debt repayment. The firm plans to expand into 100 major metropolitan areas in the U.S., Canada, Europe, and Asia, from its current 13 markets. The SEC filing shows that organic growth was only moderate in 2009 and that the firm is not yet making profits.