Turo is a leading peer-to-peer vehicle lending company. It also offers peer-to-peer vehicle loans. A vehicle can be listed on a host’s page, its availability can be modified, and its price may be adjusted based on demand. Then, via the platform, visitors may arrange any car owners from a community of hosts at any time and place they desire. Guests may search for vehicles by location, type, price, use case, and other characteristics to find the most suitable cars for their needs. Consider it like Airbnb for automobiles. It’s a way for people to locate each other easily and quickly arrange everything outside their homes.
The company’s goal is to use the world’s 1.5 billion cars better. Furthermore, it’s a mutual success for both sides. “Both renters and owners have a range of use cases – from the minivan for the family vacation, to the convertible for a long-awaited beach holiday, or a basic vehicle for escaping city life,” according to Covid. Furthermore, short-term rentals at reasonable costs are essential because supply chain difficulties push car rental prices. At the same period time, hosts may benefit by renting their homes out short-term and lowering their expenses.
What is Turo?
Turo is a peer-to-peer car service. Turo, previously known as RelayRides, enables automobile car owners to earn additional income by renting their vehicles out while providing a convenient and quick way for people who need transportation.
Turo is not a ride-hailing service but rather a similar to traditional car ownership rental business, so it’s better for longer excursions that you plan ahead of time. Turo is ideal for trips of any length — whether on vacation or exploring a new city at your leisure — since it isn’t a ride-hailing app. In addition, it’s a fantastic method to test out vehicle models before purchasing one. A 15-minute drive isn’t sufficient to obtain an entire automobile experience!
When is the Turo IPO Date?
Following a month with relatively few new listings, Turo reintroduces the idea of an initial public offering (IPO), which is the first time a firm distributes its equity shares to investors. When Turo signs up for the IPO calendar, it will have the most significant marketplace debut of 2018. When it does so, interest in the company is expected to be high.
Turo has yet to reveal the date of its launch. However, according to unidentified sources within the company, the IPO process may be pushed back a month to March. Investors know that the company behind the Car Sharing platform Turo filed for a public offering confidentially with the US Securities and Exchange Commission (SEC) August capital on August 6, 2021.
Turo announced its intention to sell shares in a prospectus filed with the Securities and Exchange Commission (SEC) on January 10, 2022, which specified an objective of $100 million and no per-share price information. This submission is likely a placeholder, with analysts expecting to receive up to $300 million in extra funding. With the Federal Reserve attempting to finally curb rising prices by turning down the money supply.
Management also plans to have TURO listed on the New York Stock Exchange under the ticker symbol TURO. The joint book-runners for the offering are Morgan Stanley (NYSE: MS), JPMorgan Chase & Co. (NYSE: JPM), Allen & Company, and Citigroup Inc. (NYSE: C).
If Turo goes public within the next several weeks, it will receive tailwinds from investors that may significantly boost its value. Millions of Americans are fed up with the many limitations that COVID-19 imposed. Despite the quick spreading omicron variant, people have been energetically regaining control of their daily lives, a part of a phenomenon known as retail revenge.
How to Buy Turo IPO (TURO) Stock
Step 1: Pick a brokerage.
With the best brokers competing for similar incentives, concentrate on finding the right platform for you.
Step 2: Decide how many shares you want.
It’s better to participate in an IPO with a reasonable share count. IPOs are pretty hazardous. Therefore it’s ideal to acquire a balanced amount of shares.
Step 3: Choose your order type.
Learn the fundamentals of a market before you trade.
- Bid: The highest offer for a stock made by the buyer.
- Ask The seller’s lowest price that is acceptable.
- Spread: The bid-ask spread, on the other hand, indicates market risk because it is also the profitability margin for market makers.
- Limit order: Limit orders allow you to reveal your intentions without committing to a price, but they don’t guarantee execution.
- Market order: Orders placed through marketplaces like Indiegogo and Kickstarter are “at the moment possible,” but they do not ensure delivery at that price.
- Stop-loss order: Stop-loss orders remove your bet at a specific expense or less if the market moves against you.
- Stop-limit order: Stop-limit orders only limit your position to a particular price but also have non-fulfillment risks.
Step 4: Execute your trade.
To execute a market order, follow these procedures:
- Select your action: buy or sell.
- Select the stock or funds you wish to acquire (or sell).
- Select the Buy (or Sell) option.
Follow the same procedure for limit orders (but ensure your execution price is included).
Turo IPO Financial Information
The Turo IPO prospectus contains comprehensive financial data, allowing you to learn more about the firm’s operations. Furthermore, if you’re searching for TURO stock, there are some things to consider.
Turo provides investors with some helpful information. The company’s profit and loss statement and balance sheet are shown below.
Net Revenue: Turo announced a surge in net income. In 2019, Turo generated $141.7 million in net revenue. Revenue increased to $149.9 million in 2020. Furthermore, for the first nine months ended September 2021, revenue increased to $330.5 million.
Net Income (Loss): Turo has been reporting increasing losses recently. Turo said $97.1 million in net losses for December 2020. Furthermore, the firm’s losses rose to $129.3 million for the three months ended September 30, 2021. The company stated that future losses might be higher
Loss from Operations: Turo’s operational losses have decreased. In 2019, Turo recorded $105.2 million in operating losses, which declined to $55.7 million in 2020. For the nine months ended September 2021, Turo reported a loss of $46.5 million.
Cash: The company’s cash flows have improved. As of 2019, the firm had $188.2 million in cash. However, Turo’s money dried up to a $145.2 million valuation in 2020. With $262.9 million in cash as of September 2021, the organization has made a resurgence.
TURO Restrictions for Retail Investors
Before participating in an IPO, review the Financial Industry Regulatory Authority (FINRA) rules on restricted persons. For example, if you have secret knowledge, you shouldn’t participate.
FAQs
What is Turo’s business model?
Turo is a peer-to-peer car-sharing economy rental service. The company’s business model is to charge a fee for rentals that people agree on and to upsell insurance add-ons.
How much does Turo worth?
Given that the firm has not launched Turo stock and has yet to publish financial statements, we may only guess that its value equals the cash investments in it. Turo has received more than $500 million in financing since its inception in 2010.
Is Turo a public company?
Yes, but it will be some time before it can do so. The firm has recently filed IPOs with the SEC, so that it may take up to three to six months for approval. In addition, the company plans have not yet determined whether to go public directed share program, via a regular IPO, or through a merger with SPAC.
Can I buy Turo stock?
Turo does not yet have a stock market listing.
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