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]