ZipCar Files for $75 Million IPO

ZipCar, a Cambridge, Mass.-based provider of car sharing services, has filed for a $75 million IPO. It plans to trade on the Nasdaq under ticker symbol ZIP, with Goldman Sachs and J.P. Morgan serving as co-lead underwriters.

The company reports $131 million in 2009 revenue, compared to $105 million in 2008 revenue. Its net loss fell to $4.67 million in 2009 from $14.52 million in 2008 (but increased from $2.97m in first 3 months of 2009 to $5.33m in first 3 months of 2010).

ZipCar has raised over $38 million in VC funding. Shareholders include Revolution Living (22.98% pre-IPO stake). Benchmark Capital (12.64%), Greylock Partners (7.12%), Smedvig Capital (5.57%) and Globespan Capital Partners. www.zipcar.com

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