The media is buzzing with the news that Robin Chase’s (LF 2005) brainchild Zipcar has agreed to be sold to Avis. Chase had a “crazy” idea ("easy and cool trumps guilt and obligation") , put together with real entrepreneurial insights, which has become mainstream. Based on the company's research, every Zipcar in the fleet replaces about 9 privately owned vehicles.
The news coverage is concerned mainly with the sweet profit for investor Steve Case (Bloomberg Business Week), the upside in the merger for Avis (Wall Street Journal), the risks for Avis (MSN Money), and the risks for Zipcar and the future of car sharing and rental agency competition (Washington Post). The Post's Wonkblog issues an invitation to the Justice Department's new antitrust department chief Bill Baer to look closely at the merger.
That leaves it to the LOEBlog to give Chase credit where credit is due for a great and timely idea and the sweat to realize it. Long may it live!
Hear Chase discussing the future of Zipcar on WBUR's Radio Boston.
Photo by Mario Roberto Duran Ortiz