November 1, 2007

Zipcar and Flexcar car-sharing companies agree to merge

Cambridge, Massachusetts – Zipcar and Flexcar, the leading car sharing providers in the U.S., have announced that the companies will merge to represent an international network under the Zipcar brand. Zipcar currently operates in Canada in Vancouver and Toronto.

The companies operate by membership; members reserve a vehicle online or via mobile devices, use a card to open the doors, and return the car at the end of the reservation. An hourly or daily fee covers gas, insurance, maintenance, parking and emergency service.

“This merger will be a classic example of the whole being greater than the sum of its parts,” says Zipcar CEO Scott Griffith. “The combined company will provide our members with increased benefits and improve our ability to expand into new markets. The management and employees of both companies are proud to be contributing to the progression of the industry, and we believe as a combined company, we will be more effective in making car sharing a mainstream form of transportation in cities throughout the U.S., Canada and Europe.”

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