Peer-to-peer car-sharing service Turo files to go public
Turo, the peer-to-peer car-sharing service, has filed for its initial public offering, the latest transportation-related startup to sell its shares on a public stock exchange. The company proposes to sell $100 million of stock, but that figure could change as Turo gets closer to its public debut.
Founded in 2010, the San Francisco-based company allows people to rent out their personal cars to other customers, much like Airbnb does for homes. In its S-1 filed with the Securities and Exchange Commission, Turo claims it has 85,000 active hosts (meaning vehicle owners), 161,000 active vehicles, and 1.3 million active guests over the period of 12 months ending September 30th, 2021.