Kayak was acquired by earlier this year in a $1.8 billion deal, and while both companies are keeping their respective executive teams and local headquarters, for now, there’s a history of these types of acquisitions taking talent, capital, and jobs away from the Bay State. Register now to watch these stocks streaming on the ADVFN Monitor. ![]() Local investor Rob Go was similarly non-plussed. “Also, not for nothing, this is another example of a good Boston-based company moving up and out,’’ tweeted Nathan Spencer, the chief executive of Zipcar. The stock jumped 67 the following day amid excitement about the growth. Its hundreds of hubs around the globe make it one of the world’s largest carsharing companies, and once you have a membership you can use its vehicles anywhere including Europe. Zipcar, whose stock-market performance has left something to be desired since its banner IPO, got good news today when Avis Budget Group announced that it would buy the startup for 500 million. Zipcar raised around 175 million in its April IPO despite a history of losses that could extend to 2011 as well. There was also mixed feelings about another large Boston start-up losing its independence. Zipcar offers city-dwellers a viable alternative to traditional car ownership. The rental car company Avis Budget Group bought Zipcar for 500 million in. Kirsner had called it “one of the most promising start-ups in Boston’’ back in 2003.īut even with the 49 percent premium paid over its current stock price, Zipcar is selling for a fraction of the $1.2 billion valuation it saw shortly after its initial public offering - at the time, the Wall Street Journal noted that was “about 40% less than the market value of rental-car giant Avis Budget Group.’’ Independent studies show that Zipcars model of car sharing reduces vehicle ownership, freeing up space for people in cities. Zipcar was founded in 2000 and quickly found a niche as a car ownership alternative in cities and on college campuses. A Zipcar reserved parking space in Foggy Bottom. The company recently noted it now has over 300 car stations just in Boston. Zipcar Stock Photos and Images A Zipcar carshare location with car. Scott Kirsner profiled Zipcar shortly before its IPO when it only had 240 cars spread across three cities. 9, when it announced higher-than-expected profit, its stock had declined 55 percent through the year. The announcement was generally hailed by fans of Boston’s start-up community as validation of a model that, at times, seemed precarious: Up until Nov.
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