Last weekendTuro, a startup that lets consumers rent their cars from each other, has updated its IPO filing to include full-year data from 2022, giving us a better understanding of its post-Covid performance.
Turo, a venture-backed company that raised hundreds of millions while private, has filed a private suit to return public in 2021. That initial document was turned into a public filing the following year, with Turo regularly updating its S-1 filings — most of them. Soon to include Q4 2022 data.
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With TechCrunch and other publications like Instacart and Reddit discussing unicorns as potential companies heading out the IPO door as the public offering window reopens, maybe we’ve been looking in the wrong places. Turo may be the first.
And the Turo IPO will be no small matter. Pitchbook pegs the company’s most recent private market valuation at $1.28 billion, making it long the unicorn that raised capital in 2009. Readers may recall that Touro was once called RelayRides and later expanded to support the model. Users submit more than one car to the platform.
Let’s sit down and take a closer look at Touro’s numbers and examine what we can from the recent merger of the rocky SPAC Getaround, which has a similar model and could provide a valuation clue for Touro. to make!
