Online car-rental service Zipcar briefly topped a billion dollars in market value soon after going public last year!

by manyouzhe1 on 2012-02-23 14:10:57

The public bicycle rental service currently being implemented in Yantian District has become very popular among nearby residents. Because of this, a number of issues have also arisen. Due to the limited number of daily slots available for applying for rental cards, citizens who need to apply must go to the card issuance point after 9:00 AM and after 2:00 PM to collect a number for processing. If they arrive late and the numbers are all taken, they will have to come back the next day.

Reporters at the Yantian District government building observed that there were many people coming to handle the public bicycle rental card business. To quickly process the rental cards for citizens, some card issuance points have added service windows. The staff at the window told reporters that they had barely left their positions since starting work.

After Zipcar's online car rental service went public last year and its market value soon surpassed $1 billion, it immediately began large-scale investments. Today, it announced a leading A-round investment of $13.7 million in Wheelz, a start-up company providing car rental services to college students. Fontinalis Partners also participated in the investment. Former Ford executive and Fontinalis investment manager Mark Schulz will join the Wheelz board of directors. Last summer, Wheelz received $2 million in seed funding from former Facebook vice president and founder of the Social+Capital Partnership investment fund Chamath Palihaptiya, as well as the Red Swan Fund, along with a series of angel investments. The total capital now stands at $16 million.

Regarding the repair costs caused by accidents such as traffic crashes or scratches after vehicles are rented out, the store manager stated that small scratch incidents are mostly resolved through mutual compensation agreements between the parties involved. For major accident repair costs, insurance companies need to be involved. Of course, the leasing party also needs to bear partial responsibility. "Currently, the compensation standards of various car rental companies are different, but they will all clearly specify this in the contract. It is best for the leasing party to carefully read the contract before deciding whether to rent a car." For more car rental booking information, please visit the car rental website: www.wodingche.com