Gilder, Gagnon, Howe & Co. Cuts Stake in Zipcar by Nearly 2/3rds
Gilder, Gagnon, Howe & Co. LLC has cut its stake in Zipcar Inc. (Nasdaq: ZIP) by nearly two-thirds to 2.38 percent worth $7.53 million, according to an SEC filing.
The New York money manager said it owned 952,200 shares in the Cambridge, Mass.-based company that enables car-sharing. The stake’s value is based on the stock’s closing price of $7.91 per share on Sept. 11.
In June, Gilder, Gagnon, Howe held 2.68 million shares, representing a 6.70 percent stake then worth $31.45 million.
Zipcar was founded in 2000 by Antje Danielson and Robin Chase, who were inspired by car clubs in Europe. It has over 400,000 members in North America and the United Kingdom. Known as Zipsters, the members are provided access to self-service vehicles located in reserved parking spaces. Members pay for the vehicles by the hour or by the day through a reservation system. The company is led by Chairman and CEO Scott Griffith.
Gilder, Gagnon, Howe, founded in 1968, is led by managing member and CEO Travis Knapp Anderson.
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