ZipCar Begins to Rev Its IPO Engine
ZipCar is moving ahead with plans to go public in 2010, peHUB has learned. The car-sharing company is in the midst of hiring several financial and corporate communications executives, including at least two that should have "exposure to Sarbanes-Oxley regulations." It also is believed to have begun meeting with potential underwriters. If a ZipCar IPO sounds familiar, that might be because of a "will it or won't it" series of stories from last summer. First, Bloomberg reported that CEO Scott Griffith had disclosed plans to go public in 2010. Later that say, TheDeal called Bloomberg's story "a gross misinterpretation" and "nonsense," based on a followup interview with Zipcar spokeswoman Nancy Scott Lyon. Specifically, TheDeal quoted Lyon as saying: "We did not announce an IPO and have no immediate plans to go public."
