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Turo Stock (TURO)
Turo is a marketplace for peer-to-peer car-sharing where customers can book vehicles from local car owners.
Turo is a marketplace for peer-to-peer carsharing.
About Turo Stock
Founded
2008
Total Funding
541M
Industries
Transportation, Other, Commerce and Shopping
Turo is a marketplace for peer-to-peer carsharing. Turo allows people to book a car from a community of hosts across the US, Canada, France, Australia, and the UK. Turo's mission is to allow guests to find a car for any occasion and for hosts to build an accessible, flexible, and scalable car-sharing business from the ground up.
Turo Press Mentions
Stay in the know about the latest news on Turo
Could you live without your car? We tallied up how much you could save by giving it up — but that’s not all to consider
thestar • Sep 29, 2025
Carsharing Market - Global Forecast to 2030
globenewswire • Sep 26, 2025
Side Income From Airbnb, Turo, and Gig Platforms Could Spark IRS Action - Clear Start Tax Warns Short-Term Renters and Car Hosts
newswire • Sep 16, 2025
Turo and AIR MILES Announce New Partnership to Help Canadians Earn More Rewards While Travelling
newswire • Sep 15, 2025
PhocusWire's weekly travel tech news briefs: Accor, Skyscanner, Mews and more...
phocuswire • Aug 29, 2025
Investors in Turo
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Turo Management
Leadership team at Turo
Chief Executive Officer
Andre Haddad
Chief Financial Officer
Charles Fisher
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Turo Key Facts
- Expanded Loyalty Partnership with AIR MILES in Canada (Market Position): In September 2025, Turo announced a new, expanded partnership with the AIR MILES® Reward Program™ in Canada, allowing nearly 10 million active collectors to earn Miles on every booking (not just the first). This alliance is a strong strategic initiative that immediately enhances Turo's brand loyalty, increases customer acquisition channels, and drives repeat bookings in a key international market, directly strengthening its competitive position against traditional car rental companies.
- Potential for Growth: The sharing economy continues to grow as consumers increasingly favor access over ownership. Turo taps into this trend by allowing car owners to monetize their assets when not in use. Turo's expansion into international markets like Canada and the UK demonstrates its scalability and appeal in regions where car ownership costs are high and the sharing economy is growing rapidly.
- Platform Refinements Maximize Profitability for Long-Term Bookings (Operational Performance): In the Summer 2025 Host Release (July 2025), Turo made significant operational changes to improve host profitability, particularly for longer trips. These updates include reducing the recommended monthly host discount from 60–70% to 45% (leading to 39% higher average host earnings) and ceasing to charge trip fees for monthly bookings in most markets. By improving the financial viability for hosts on weekly and monthly trips, Turo incentivizes hosts to maintain inventory and tap into growing demand for longer-duration rentals, which tend to be more profitable and have fewer incidents.
- Cancelled IPO and Financial Challenges: Turo officially canceled its long-planned IPO in February 2025 due to unfavorable market conditions and sharply decelerating financial performance. The company’s revenue growth rate plummeted from over 200% in 2021 to just 8% in early 2024. Furthermore, Adjusted EBITDA fell 46% year-over-year, and operating income turned negative by late 2024, indicating significant margin deterioration and a challenging path to sustained, scalable profitability that investors require for a public offering.
- Reputation and Regulatory Risks from Safety Incidents: Two high-profile incidents involving Turo vehicles in deadly attacks in early 2025 raised concerns about the company's risk management and trust & safety measures. These events may provoke greater regulatory scrutiny and damage brand reputation, potentially deterring users and hosts.
- Workforce Reduction and Cost-Cutting: Following the IPO withdrawal, Turo cut 15% of its workforce in April 2025 and shifted strategic focus to cost control. This downsizing reflects efforts to extend runway amid operational challenges but could impact service levels and innovation capacity.
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