as CEO with Scott Griffith. In July 2005, Zipcar secured $10 million in funding led by Benchmark Capital. In August 2005, San Francisco office opened. In May 2006, the Toronto office opened. In May 2006, General Electric's Commercial Finance Fleet Services () gave Zipcar $20 million in lease line financing. In September 2006, the Toronto market was named the fastest growing new market in company history. In November 2006, the London office opened. In April 2007, the Vancouver office opened. In October 2007, Zipcar and Flexcar executives announced a merger of the two companies, with the Zipcar brand and headquarters replacing that of Flexcar. On 23 January 2008, the merged Zipcar/Flexcar canceled service for the Southern California cities of Los Angeles and San Diego without providing advance notice to customers in those areas, although Southern California college operations were left intact. On July 11, 2008, Zipcar announced it doubled membership in past year, including the Flexcar members it acquired, and now had 225,000 members. On August 28, 2008, Rice University announced its introduction into the program in their goal of achieving the lowest possible carbon footprint while providing additional transportation options for employees that carpool. In June 2009, the company announced an iPhone application at the Apple World Wide Developer Conference; the application is capable of honking the horn and unlocking some Zipcars. Following impressive third-quarter results, previous CEO Scott Griffith announced that 2012 would mark Zipcar's "first full year of profitability on a US GAAP basis". Scott Griffith stepped down on March 15, 2013, following Avis Budget Group's acquisition of Zipcar. Mark Norman remained as president until February 2014, when Avis Budget Group announced that Kaye Ceille was appointed president of Zipcar, and "Mark Norman would step down in order to pursue another career opportunity." In July 2016, Kay Ceille stepped down as president of Zipcar to become the managing director of Avis Budget Group International, Australia. On January 5, 2017, Zipcar announced that after a 6-month search they appointed Tracey Zhen as its new president. Zhen came over from TripAdvisor where she had been a vice president and general manager. On September 27, 2020, Zipcar announced Angelo Adams as its new head of Zipcar. Prior to joining Zipcar, Adams spent a successful career at OTIS Elevator in numerous market leadership roles. His experience managing operations, dispersed and diverse teams, supply chain, customer service, engineering, and contact centers will