Turo, the peer-to-peer car-sharing startup, has started the confidential process of procedures for an initial public marketing with the U. S. Stock options Exchange Commission.
The number of shares to be are available the IPO and the price range have not yet been concluded, the company said in a declare. Turo declined to provide info to TechCrunch.
The eleven-year-old Turo’s site is analogous to AirBnB, letting car owners on this site an ad to lease their vehicle on it can be app and website. Vehicle are available to rent much more than 5, 500 states across four countries, Turo says on its net site. That includes Germany, where Turo went to ove r Daimler motor company AG’s car-sharing subsidiary Croove alongside an investment deal.
The company had a $250 million Series E in the July 2019, which drived the company into unicorn skriaudus and “past the multi-million dollar valuation mark, ” TOP DOG Andre Haddad said during a extraordinary post . Turo followed the fact that up with a $30 capacité extension round the following October, bringing its total resourcing to date to over $500 contenance.
Turo failed to have a completely smooth automobile during the pandemic; like numerous other transportation startups Bird with Getaround, Turo laid off 29% of its workforce, or 108 employees, in March 2020 according to data tracker Layoffs. fyi .