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.
Steve Case and his Revolution LLC fund for startups will gross about $96 million in the sale of car-sharing service Zipcar Inc. to Avis Budget Group Inc., a deal that validated his early backing in the industry.
Steve Case, co-founder of America Online Inc., said his venture-capital firm Revolution LLC will keep investing the bulk of its capital outside of Silicon Valley and New York to find innovative products and businesses.
Steve Case, chief executive officer of Revolution LLC and co-founder of AOL Inc., talks with Bloomberg's Betty Liu about the South by Southwest Conference and the importance of start-ups and entrepreneurship in America. He speaks on Bloomberg Television's "In The Loop." (Source: Bloomberg)