TURO SRAPRAPS provides for an IPO
Turo withdrew his plans on Thursday for an IPO, ending a three -year expectation to bring the online car -sharing network to the public market, According to a regulatory file.
Turo, which was founded in 2010, allows private cars to rent their vehicles via the website or the startup application. The company – sometimes described as the Airbnb for cars – was published publicly in January 2022 for a first public offer, but conditions of Introduction on the stock market amended Shortly after. Its growth deceleratedAlso.
Turo’s decision to end his IPOs on the stock market one day after the Self -Party Company between Peirs Getarnd Stop its American operations. Like Turo, Getarrand started life as a company supported by a company. Unlike Turo, Getarrand made the jump to the public market in 2022 via a merger with a acquisition company for special purposes.
Turo still works in the United States – and elsewhere. In September 2024, the company said it had 150,000 hosts active worldwide, with 350,000 lists of active vehicles and 3.5 million active guests. The company also operates in Canada, Australia and France.
However, its maximum growth is currently. The company said $ 722 million in the nine months Finished September 2024In addition to 8.6% compared to the same nine -month period in 2023. However, these figures are in the middle of the full -year boom in Turo in 2022 when he generated $ 879.7 income. Likewise, the company has been profitable since 2022 on net profit, but as for its income, the profits have not returned to the Turo Heights reported in 2022.
In other words, companies are underway in 2023, then recovered in 2024, but not quite at the levels necessary for this dream of Introduction on the stock market.
