We have written about Zipcar several times. They are a car sharing service with rates as low as $50 a year and $9 an hour (for Washington, DC right now anyway). CNN interviews the CEO and follows him through the process of renting a car. Zipcar uses a cool wireless ID card to get into the car. You don't have to pay for gas, parking, maintenance or insurance. The car models fit the young, urban dweller demo: Minis, Jettas, etc. Now, the company is starting to move beyond trendy, hipsters.

According to the video, they have 100,000 members. In 2007, they expect to almost double revenue to $60 M. They are turning a profit in New York, Boston, San Francisco and Washington, DC. The model seems to be better than regular rental requiring fewer employees. CNN videos expire so if you are reading this and there is no video, check out the full text here. You can also check out this video on Google and this one on Youtube.

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[Source: CNN]


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