ZipCar Upsizes IPO, Now Wants To Raise $130 Million

zipcar

Photo: Jon Miller

ZipCar, the online car-sharing service, has increased its IPO plans and now plans to raise as much as $130 million if it prices at the top of the range. That would give the company a $618 million market cap. (Via Fortune’s Dan Primack on Twitter.)ZipCar got started in 2000 and filed to go public in 2010. It’s a customer success, but still loses money every year. In its filing it said it would use the money for the IPO to pay down debt and keep the lights on while it tries to make a profit. The company has also been growing aggressively through acquisition, which costs money.

Don’t Miss: The 11 Huge Tech IPOs Coming This Year →

NOW WATCH: Tech Insider videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.


Tagged In

ipos sai-us zipcar