Renaissance: Zipcar submits filing for $75 million IPO

"Zipcar, the world's leading provider of car sharing services in North America and the UK, filed on Tuesday with the SEC to raise up to $75 million in an initial public offering. The Cambridge, MA-based company, which was founded in 2000 and booked $139 million in sales for the 12 months ended March 31st, 2010, operates in 13 major metropolitan areas and on more than 150 college campuses. Zipcar is 23% owned by Revolution Living, which was co-founded by former AOL CEO Steve Case; other shareholders include Benchmark Capital, Greylock Partners and Smedvig Capital. Zipcar plans to list on the NASDAQ under the symbol ZIP. Goldman, Sachs & Co. and J.P. Morgan are the lead underwriters on the deal, for which pricing terms and timing were not disclosed."