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Steve Case on Avis, Zipcar, and the Sharing Economy

The deal gives AOL's co-founder vindication and a $96 million boost for his fund
A Zipcar during a promotion in Times Square in New York
A Zipcar during a promotion in Times Square in New YorkPhotograph by Spencer Platt/Getty Images

The news that Avis Budget Group will buy Zipcar for $491 million has evoked strong reactions, from Steven Pearlstein of the Washington Post arguing that the car-rental giant will “ruin” its peppy former rival to Reuters’ Felix Salmon dubbing it a smart buy.

Jan. 2 (Bloomberg) -- Avis Budget Group agreed to buy Zipcar, which rents cars by the hour or day, for $491 million, after losing in a race to acquire Dollar Thrifty Automotive Group. Christina Alesci reports on Bloomberg Television's "In The Loop." (Source: Bloomberg)