Zipcar Revs Up

The hourly-rental-car company is facing competition from some industry giants.

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Zipcar is hoping to position itself as the Whole Foods of the rental-car industry, CEO Scott Griffith tells Fast Company. The Cambridge, Mass.-based Zipcar, which absorbed Seattle-based Flexcar in late 2007, "is ready to shift into second gear driving toward an IPO, 2 million customers, and $1 billion in annual revenue. High oil prices and environmental concerns should ease its path," according to the story. Zipcar faces some stiff competition from industry giants Enterprise, Hertz, and Thrifty, which are all now offering hourly rentals.