ZIPCAR COMPLETES INTEGRATION OF SPAIN'S LARGEST CAR SHARING SERVICE
New global technology platform launched to support Zipcar's international operations
LONDON, Oct. 17, 2012 /PRNewswire/-- Zipcar, Inc. (Nasdaq: ZIP), the world's leading car sharing network, today announced the final integration of Spain's largest car sharing service, Barcelona-based Avancar. The integration widens Zipcar's global network and membership base, giving members access to even more vehicles around the world. The service will operate as "Avancar, a Zipcar company" and is a key step in Zipcar's expansion in Europe, which also includes services in the United Kingdom and Austria.
This integration coincides with the launch of Zipcar's new global technology platform, designed to support multi-language capabilities and enhance scalability to improve speed to market with future international expansion.
The Avancar integration included conversion of the entire fleet in Barcelona from the legacy Avancar platform onto the Zipcar network. Zipcar accounts were established for all consumer and business Avancar members and the end-to-end Zipcar experience is now offered in both Catalan and Spanish languages. Vehicles in Barcelona are now available for reservation by all Zipcar members, with rates starting from four Euros per hour and 45 Euros per day, including insurance, gas, and 20 kilometers of driving per day (24 hours).
"With the launch of our new global information technology platform and the completion of Avancar's integration, the Zipcar global network is now more scalable and has an even wider reach," said Scott Griffith, Zipcar chairman and CEO. "With a common platform across the US, Canada, UK and now Spain, Zipcar is an attractive option for consumers, businesses and governments looking for ways to reduce costs without sacrificing vehicle accessibility. The completion of this integration, coupled with our recent acquisition of CarSharing.at in Vienna, Austria, positions us well to continue to grow and expand the car sharing category and Zipcar's presence throughout Europe."
Using Zipcar's technology, reserving and driving in Barcelona is easy and convenient. In minutes, members can reserve a car online or by phone, 24 hours a day, seven days a week. As part of the integration, Barcelona members with smartphones, including iPhones and Android devices, will be able to download the Zipcar mobile applications in both Catalan and Spanish, to make reservations, lock and unlock the vehicles as well as honk the horn to help locate the vehicle.
Zipcar purchased a majority ownership interest in Barcelona-based Catalunya Carsharing S.A., known as Avancar, in February 2012, following an initial equity investment in December 2009. Avancar was the first car sharing operator in Spain, and has been offering car sharing in Barcelona since 2005. According to Zipcar research, Barcelona has the potential to become one of the top European cities for car sharing.
Zipcar is the world's leading car sharing network with more than 730,000 members and 11,000 vehicles in urban areas and college campuses throughout the United States, Canada, the United Kingdom, Spain and Austria. Zipcar offers more than 30 makes and models of self-service vehicles by the hour or day to residents and businesses looking for an alternative to the high costs and hassles of owning a car. More information is available at www.zipcar.com.
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Zipcar and the Zipcar logo are trademarks of Zipcar, Inc. All other trademarks used herein are the property of their respective owners.
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including statements with respect to future international expansion, the continued growth and expansion of the car sharing category and our presence throughout Europe and Barcelona's potential to become one of the top European cities for car sharing. Among the factors that could cause actual results to differ materially from those indicated by such forward-looking statements include our ability to profitably attract new members and retain existing customers, adverse economic conditions in general and adverse economic conditions specifically affecting the markets in which we currently or in the future may operate, our ability to compete effectively, our ability to expand into new geographic markets, and our ability to manage growth and other risks detailed in our publicly available filings with the Securities and Exchange Commission. All forward-looking statements reflect our expectations only as of the date of this release and should not be relied upon as reflecting our views, expectations or beliefs at any date subsequent to the date of this release.
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