So Avis has bought collaborative consumption poster child company Zipcar for $12.25 a share. As you might imagine, this has sparked a number of reactions, from those concerned that, consumed by a fusty incumbent, the innovative upstart will now lose its way, to those excited at the scale Avis can lend the still-fledgling company. The press release doesn’t say much beyond the expected platitudes, though Avis “anticipates” that key Zipcar executives such as CEO Scott W. Griffith will remain at the helm of the company. It’s certainly been interesting to watch Zipcar’s journey so far—and that will continue as the firm moves to become a test case for those looking to manage disruption both internally and at scale.
Update: tweet from Zipcar cofounder Robin Chase neatly sums up the issues at hand:
“Avis buys Zipcar. Should reduce fleet costs & make zip profitable. Concerned about whether OldCo can build NewCo in new innovative economy.”
[Photo c/o Zipcar]