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(Transportation-News.com, July 26, 2013 ) Cork, Ireland -- Enterprise Holdings will be acquiring Zimride from Lyft for an undisclosed sum according to a recent company announcement. Zimride is a lesser-known ridesharing service of Lyft that was started around 2007.
The purchase is a strategic move by Enterprise to reach a younger demographic. Zimride is popular among college students as a peer-to-peer matching service. It is utilized at one hundred and twenty five university campuses across the nation and at last count, serviced more than three hundred and fifty students.
John Zimmer and Logan Green, founders of the company, thought up the idea when they were undergraduates at the University of Southern California. They wanted to make carpooling safer and easier for college students and when Facebook opened its API to developers, the opportunity presented itself. Zimride connects students who are going in the same direction -- online.
Enterprise executives were actively looking into ridesharing for some time. It will continue to operate Zimride as a stand-alone company service along with the company’s other operations Alamo Rent A Car, National Car Rental and Enterprise Rent-A-Car.
Enterprise’s closest competitor, Avis, recently purchased Zipcar for $500 million. Zipcar is also a ridesharing service. CEO Ronald L. Nelson said at the time of the acquiring that he had been apprehensive of this type of service but changed his mind when he looked more deeply into the operation.
Lyft and Zimride founder John Zimmer plans to focus more closely on the main operation of the company after the sale. Lyft recently raised $60 million in funding from venture firm Andreessen Horowitz. The company allows anyone with a smartphone to rent a car in a matter of minutes. The service has been expanding rapidly.
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Benjamin Wrights
4157669098
news@postpressrelease.com
Source: EmailWire.Com 
Source: EmailWire.com
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