Why Avis Just Made a Big Bet on the Future of Cars as a Service
On the morning of Zipcar's IPO in the spring of 2011 I wrote "the year of car as a service has arrived." Close to two years later, car rental giant Avis Budget Group announced on Wednesday that it will acquire Zipcar for $500 million in cash. It's proof of
the continued maturation of car sharing as a business - despite the difficult economics of that market - and shows how the old school car rental companies are using technology to increase decentralized distribution and on-demand services for their cars.