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About Turo
Industries
Automotive & Transportation
Consumer Goods
Company Size
1,001-5,000
Company Stage
IPO
Total Funding
$451.3M
Headquarters
San Francisco, California
Founded
2009
Overview
Turo operates a peer-to-peer car sharing platform that allows private car owners to rent out their vehicles to others. Car owners can list their vehicles, set rental prices, and determine availability, while renters can browse these listings to find a car that meets their needs for a short period. Turo facilitates the rental process by providing insurance coverage and customer support, ensuring a smooth transaction for both parties. The company earns revenue by taking a percentage of the rental fees, which aligns its interests with those of its users. Turo stands out from traditional car rental companies and other peer-to-peer platforms by offering a diverse range of vehicles, including everyday cars, luxury options, and specialty vehicles. The goal of Turo is to provide a flexible and cost-effective alternative to traditional car rentals, leveraging the sharing economy to connect car owners with renters.
Simplify's Take
What believers are saying
- Turo's partnership with United Airlines enhances customer acquisition and retention.
- Expansion in Australia indicates potential for further international market penetration.
- Winning the unitQ Quality Excellence Award highlights Turo's commitment to customer experience.
What critics are saying
- Negative incidents involving rented vehicles could damage Turo's reputation.
- New competitors like ZEV co-op could capture market share with eco-friendly models.
- Market volatility could impact Turo's IPO plans and investor confidence.
What makes Turo unique
- Turo offers a wide variety of vehicles, from everyday to luxury models.
- The platform provides a cost-effective alternative to traditional car rental services.
- Turo's commission-based model aligns its interests with users' successful transactions.
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Funding
Total Funding
$451.3M
Above
Industry Average
Funded Over
7 Rounds
Kleiner PerkinsGrowth & Insights and Company News
6 month growth
↓ -2%1 year growth
↓ -1%2 year growth
↓ -1%Turo has issued a statement, following the New Orleans terror attack and the Cybertruck vehicle explosion in Las Vegas.
The Tesla Cybertruck that exploded Wednesday in Las Vegas was rented on Turo, the same car-sharing app used to rent the pickup truck used in the New Orleans attack earlier Wednesday.
Topline. A truck that drove into a New Orleans crowd, killing 14 people, and a Tesla Cybertruck that exploded outside the Trump Hotel in Las Vegas on New Year’s Day were both rented through Turo, an app that allows vehicle owners to rent out their cars or trucks, according to the company. The company said it was not aware of any information that may link the two incidents.AFP via Getty Images Key Facts
Turo partners with United Airlines to offer mileageplus members perks.
World's largest car sharing marketplace Turo has partnered with The General Store to launch a new campaign platform, amplifying the company's continued growth in australia since launching in 2022.
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About Turo
Industries
Automotive & Transportation
Consumer Goods
Company Size
1,001-5,000
Company Stage
IPO
Total Funding
$451.3M
Headquarters
San Francisco, California
Founded
2009
There are no jobs for Turo right now.
Find jobs on Simplify and start your career today