Zipcar is a company where you can can reservecars online or by phone, 24 hours a day, seven days a week. Reservations can be made minutes up to a year in advance and the advantage is that memeber´s can rent cars either billable by the hour or by day. Zipcar broke thru the traditional rental-car companies, by providing an easy-to-use and flexible alternative at a competitive rate in easily accessible locations. The company has expanded from its early days in San francisco to more than 20 areas in the US,Canada and the UK.
It went public in early April at a price range of $14-16. This week it broke support in the low 17´s range as it is nearing the bottom of the trendline. It also has showed relative strenght today, gaining almost 5%. I would keep a close eye on it, provided the market ignites a little rally.
Following this idea, I´ve found the folks at Getaround.com – similary to ZIP, it offers the possibility to its members to rent a car by the hour. What it set it aside from it, is that instead of renting a car from the company´s fleet, the member actually rents it from another nearby member of the community. They have developed their on iPhone app where you can locate, rent from the palm of your hand, instantly.
I wonder if we will be seeing an IPO in a not too distant future?