End of last weekTuro, a startup that enables consumers to rent their cars to each other, has updated its IPO filing with annual data as of 2022, giving us a better understanding of post-COVID performance.
Turo, a venture-backed company that has raised hundreds of millions while private, filed privately in 2021 to go public. That first paper was turned into a public filing the following year, and Turo has been regularly updating its S-1 documentation since recently to include Q4 2022 data.
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While australiabusinessblog.com and other publications have discussed unicorns like Instacart and Reddit as potential companies to be the first to exit the IPO gate when the public offering window reopens, we may have been looking in the wrong places. Turo could be the first.
And a Turo IPO would be no small feat. PitchBook pegs the company’s most recent private market price at $1.28 billion, making it a long-in-the-making unicorn that raised capital as far back as 2009. Readers may recall that Turo was once called RelayRides and over time has expanded its model to support users offering more than one car for its platform.
Let’s sit down and take a closer look at Turo’s numbers and dig up what we can from Getaround’s recent rocky SPAC combination, which has a similar model and may provide clues to Turo’s valuation. To work!