Turo (company)

Turo Inc.
FormerlyRelayRides (2009–2015)
Company typePrivate
IndustryCar sharing
FoundedAugust 2009 (2009-08) in Boston, Massachusetts, U.S.
FounderShelby Clark
HeadquartersHunter–Dulin Building,
San Francisco, California
,
U.S.
Area served
  • Australia
  • Canada
  • France
  • United Kingdom
  • United States[1]
Key people
Andre Haddad (CEO)
RevenueIncrease US$879.7 million (2023)[2]
OwnerIAC Inc. (31%)[3]
Number of employees
931 (2023)[1]
Websiteturo.com

Turo Inc. is an American peer-to-peer carsharing company based in San Francisco, United States. The company allows private car owners to rent out their vehicles via an online and mobile interface in four countries (United States, Canada, United Kingdom, and Australia)[4] and new corporate owners to rent out their cars in France in addition to the four previous countries.

In July 2019, the American holding company IAC invested $250 million in Turo, a deal that valued the company at more than $1 billion.[5][6] According to company filings, as of March 2024 the site had 360,000 active vehicle listings.[7]

  1. ^ a b "Registration Statement Amendment (Form S-1/A)". U.S. Securities and Exchange Commission. March 5, 2024.
  2. ^ Wilhelm, Alex (March 8, 2024). "Profitable car rental service Turo is still ready for an IPO, but its growth cratered in 2023". techcrunch.com. Retrieved May 2, 2024.
  3. ^ Savitz, Eric J. (May 9, 2023). "IAC Earnings Soar on MGM Stake, but the Weak Ad Market Remains a Drag". Barron's.
  4. ^ "Ranking the top-earning cars on Turo | Turo Carculator". turo.com. Retrieved March 23, 2021.
  5. ^ "IAC invests $250 million in car-sharing company Turo". CNBC. July 17, 2019.
  6. ^ "IAC to Invest $250 Million in Car-Sharing App Turo". WSJ.[permanent dead link]
  7. ^ Wilhelm, Alex (March 8, 2024). "Profitable car rental service Turo is still ready for an IPO, but its growth cratered in 2023". TechCrunch.