Zipcar, a car sharing service with more than 7,000 vehicles and 400,000 members across the U.S., is reaching out to a younger crowd by offering its services to under-21 drivers in the Cambridge, MA area. Zipcar, along with social rideshare partner Zimride, will double its on-campus fleet to 20 vehicles at Harvard University, while also expanding its service in the surrounding area by offering more than 160 cars off-campus.

The company is reaching out to younger drivers in an effort to boost business as it eyes the possibility of an initial public offering later this year. Whereas traditional car rental services typically scoff at the thought of providing vehicles to less-experienced drivers, Zipcar saw an opportunity for immediate growth and responded by lowering its age requirement in hopes of sweeping up thousands of local college students who could not rent vehicles otherwise. Zipcar predicts that North America's car-sharing revenue will jump to $3.3 billion by 2016 and, by opening its doors to younger drivers, the company could cash in on a large percentage of that growing market. Or end up with a lot of extra empty pizza boxes in the back seat.

[Source: Green Car Advisor]


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