Turo, A Car Rental Company That Stands Out

For many companies, their dream is to get investors and venture capitalists to help them go public. Going public comes with lots of benefits, for the employees, investors, and the firm itself. This is why Turo, a car rental service, plans to go public by starting its Turo IPO filings.

But going public is not a day’s job. It requires time, resources, money, and financial transparency. This article will delve into Turo’s financial disclosure to the public in addition to its financial operations.

What is Turo?

Turo started as a startup company with hopes and aspirations. Now, it has grown so big, even media houses have the “Turo IPO filings” as their headlines. Not only that, the organization is now worth millions of dollars, hence the next step is to go public.

Plans To Go Public

In 2022, Turo started proceedings to become a public company. The car rental service operates on a peer-to-peer based system and is backed by a venture. It also reports its annual and fourth-quarter performance unfailingly every year, and 2024 was no exception. Turo IPO filing became a topic of interest among potential investors who wanted to see how the firm is doing. The regularly updated filing is a testament that Turo is ready to finally go public.

Turo IPO Funds

A firm, IAC, gave Turo more than one billion valuation in 2019. This valuation was part of the 250 million dollars raised by Turo by that time. At present, Turo has about half a billion dollars in funds. This huge amount has helped in the Turo IPO filings currently going on. Turo didn’t disappoint its investors and venture capitalists, either. The firm has made judicious use of the funds in its hands. It used the funds to operate efficiently to the extent that it yielded a fast revenue in 2019. This winning streak continued till 2022, with net profits of millions of dollars yearly.

Turo’s Growth Rate

In 2023, Turo had an 18 percent increase in revenue as compared to its 2022 end-of-the-year revenue. The amount was over 870 million dollars. This is an impressive amount, but when compared to 2019 – 2021 growth rate, it pales in significance. Simply put, Turo had a 213 percent rise in revenue in 2021 despite the COVID-19 epidemic. Sadly, it plummeted to less than 60 percent by the end of 2022.

Turo’s Decline

Unfortunately, business has its ups and downs. Turo expressed its first slight growth decline before 2022 ended. Hence, Turo IPO filing proceedings became a bit complicated. In fact, the firm wanted to stop filing, but had to file due to the importance of going public. However, Turo wasn’t the only firm to experience a reduction in growth. Other tech firms underwent the same issue, probably during the COVID-19 crisis. Few of them are still stuck at the filing phase with no way out.

Defending Its IPO Filings

Nevertheless, Turo is optimistic that its revenue will increase again before 2024 ends. It has therefore informed its investors to expect a further improvement in the firm’s performances, citing Years 2022 and 2023 as examples.

Furthermore, the company analyzed the financial trend it underwent within these two years. There was a 1.2% difference between Q4 2023 and Q4 2022. Q4 2023 did slightly better than Q4 of the previous year. Thus, Turo can argue and defend its recent Turo IPO filing by stating that it’s possible to reverse its decline.

What Does An 18%Growth Means For Turo?

An 18 percent profit is still okay if Turo decides to be publicly listed. It is a good company with a relatively good turnover rate. Even though investors may be concerned about the little fall in growth rate, Turo can convince them otherwise.

Can Turo Go Public In 2024?

Turo is nearing a billion dollar revenue this year with its revenue, growth, and net worth combined. Additionally, its valuation is estimated to be more than one billion. This sum makes it a big firm that can definitely be publicly listed and ace the last privately tagged price. Yet, Turo is hesitating to go public, and this has led to speculations among the public.

Some think that Turo wants to accelerate a huge growth rate again to boost its confidence. Others said they just want to wait for inflation to happen in the tech sector again. Once this happens, Turo might be able to source for extra money with little dilution. While others are of the opinion that Turo awaits the return of investors’ vested interest in tech firms. This way, the investors can give tech companies like Turo more funds.

Expert Opinions

Investment experts agreed that Turo did the right thing by being cautious. Although they haven’t incurred significant losses, it is still prudent for the firm to wait it out. Otherwise, Turo might not fare well if its financial capability isn’t up to public listed standards.


It can be seen from the above that Turo is eager to become a member of public listed companies, yet hesitant. This is a potential form of risk mitigation against any future crisis that may arise. It will help Turo survey current market trends and how to improve their business operations to earn more revenue. This in turn will yield more positive results for the firm. Finally, if Turo IPO filing does become successful, then it means the company has improved its abilities.

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