Former AOL honcho Steve Case and Lee Iaccoca, lover of Snoop's Doggystyle, have teamed up to invest in Flexcar, a Seattle-based car-sharing company. While terms of the deal have been yet to be disclosed, company officials did hint that the investment outpaces the 10 mil that competitor Zipcar raised a month ago. In an interview, Case said "The idea that maybe you don't have to own a car if you only need one occasionally may catch on, just like time-sharing caught on in real estate." Iacocca was unavailable for comment, presumably with his mind on his money and his money on his mind. [Thanks to CTE for the tip.]
Case, Iacocca sign on with Flexcar [Seattle Post-Intelligencer]
Related:
XM Inks Deal with Zipcar [Internal]