Ford, Zipcar Announce New 2 Year Strategic Alliance for U.S. University Members

- Ford, Zipcar Announce New 2 Year Strategic Alliance for U.S. University Members



Aug 31, 2011

Ford (NYSE:F) and Zipcar (NASDAQ:ZIP) announced a new a strategic alliance establishing Ford as Zipcar's largest university vehicle partner, reaching students at more than 250 campuses.

The first of its kind, two-year tie up introduces a new generation of drivers to Ford vehicles with the highly-fuel efficient Focus and Escape now part of Zipcar's existing fleet of environmentally friendly, reliable and fun vehicles.

Zipcar will offer $10 off the $35 annual membership fee for the first 100,000 new University members who sign up for Zipcar, plus $1 off the hourly rate for the first 1 million hours of use on any of the new Ford vehicles at select colleges and universities

New Ford vehicles start arriving on campuses this week. The program, which could generate 2 million hours behind the wheel of Ford vehicles for college-age drivers, also helps reduce parking demand, congestion and emissions.

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Zipcar Prices Its IPO At $18, Above The Expected Range

Zipcar Prices Its IPO At $18, Above The Expected Range



Apr 14, 2011

Zipcar (NASDAQ:ZIP) priced its IPO at $18, above the expected range of $14-$16 per share. The Cambridge, Massachusetts based company sold about 9.68 million shares, giving the company a value of approximately $175 million.

Zipcar offers self-service vehicles for use by the hour or by the day. It is a membership-based company and claims over 560,000 members, which the company refers to as "Zipsters."

Zipcar offers more than 30 makes and models and has operations in New York, Chicago, London, Washington D.C., San Francisco, Toronto, Philadelphia, Boston, Seattle, Vancouver, Baltimore, Atlanta, Portland and Pittsburgh, as well as 230 colleges and universities serving a potential 1.7 million students.

Zipcar has 468 full-time employees and reportedly had 2010 revenue of $186.1 million, up 42% from 2009.

The company has an 80% market share in the U.S. and an approximately 50% market share worldwide, based on its total membership.

Zipcar will begin trading today on the Nasdaq Global Market under the ticker symbol "ZIP."