Turo (formerly RelayRides) was founded in 2009 by Shelby Clark. In an interview with Yahoo Finance in May 2019, CEO Andre Haddad affirmed the company is “definitely interested in taking the company public at one point.” These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Turo owns and operates a peer-to-peer car-sharing platform. The company has raised nearly $500 million in Venture Capital funding from investors including Manhattan Venture Partners, Allen & Co., Expanding Capital, IAC, Reform Ventures, Microventures, 137 Ventures, American Express Ventures, BMW iVentures, G Squared, Kleiner Perkins, Tao Capital Partners, Canaan Partners, Trinity Ventures, and Shasta Ventures. Per company press releases, Turo last raised a Series E expansion in February 2020 bringing the round total to $280 million at a post-money valuation of $1.2 billion.