LivingSocial Is Next Bet for Steve Case After Zipcar IPO Payoff
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America Online co-founder Steve Case, recasting himself as a venture capitalist, pledged to invest $200 million in fast-growing companies in 2005. With his bet on Zipcar Inc., he’s now made that cash back.
After Zipcar’s first day of trading on April 14, the car-sharing company has a market value of $1.12 billion. Case’s Revolution LLC owns about 18 percent of the company, valuing its stake at $199 million. That adds to his earlier gains from Revolution Money, a financial-services business he sold to American Express Co. last year.