Avis is buying Zipcar for $491.2 million, expanding its offerings from traditional car rentals to car sharing services. Zipcar, which was founded in 2000, has more than 760,000 members. It went public in 2011.
Asset sharing has become a popular theme on Wall Street. There was no shortage of demand when HomeAway and Zipcar went public, and a second-wave of companies, led by airbnb, is currently attracting considerable interest from venture capital firms. Plus, private airplane firm NetJets is owned by a certain oracular billionaire's holding company.