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April 14, 2011 10:25 pm GMT
Carsharing service ZipCar began the morning of its IPO trading at $18 a share and is now up to $27.96, a rise of over 50%. Based on its 38.6M total shares this means that it is now a billion dollar company (Congrats ZipCar!). Zipcar has raised $174 million in its IPO , surpassing its original target of $75 million.The Massachusetts-based ZipCar provides it over 560,000 members with self-service vehicles, operating on 150 college campuses and 13 major metropolitan areas in the United States, the UK and Canada.As Fortune's Dan Primack points out, each actual ZipCar (8500 or so) now works out to around $120k when divided in its market cap.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/kzoJYLV1YF4/
ZipCar Shares Up Over 50%, Market Cap Surpasses $1 Billion After IPO
Carsharing service ZipCar began the morning of its IPO trading at $18 a share and is now up to $27.96, a rise of over 50%. Based on its 38.6M total shares this means that it is now a billion dollar company (Congrats ZipCar!). Zipcar has raised $174 million in its IPO , surpassing its original target of $75 million.The Massachusetts-based ZipCar provides it over 560,000 members with self-service vehicles, operating on 150 college campuses and 13 major metropolitan areas in the United States, the UK and Canada.As Fortune's Dan Primack points out, each actual ZipCar (8500 or so) now works out to around $120k when divided in its market cap.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/kzoJYLV1YF4/
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