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Turo is expected to go public soon. Here's what we know about the IPO — and how to buy Turo stock when it's available.
Turo filed a draft registration with the US Securities and Exchange Commission under the ticker symbol TURO. Not yet an official IPO, it's one of the first steps of taking a private company public.
There's no news yet about how much the stock will cost when it goes public. No date has been set for when the stock will be publicly available. The shares will be available on the New York Stock Exchange.
Turo is a peer-to-peer car-sharing marketplace that connects private car owners with travelers in need of a vehicle. Founded in 2010, Turo is available in over 7,500 cities across the US, Canada and the UK. According to the S-1 filing, it currently has 1.3 million active guests and has seen 114% year-over-year growth in users renting cars through its platform.
In 2020, Turo generated $149.9 million in net revenue, up 6% from 2019, and reported a net loss of $97.1 million, down from $98.6 million the year before.
For the first nine months of 2021, Turo reported net revenue of $330.5 million. This is up 207% from the $107.8 million reported in the same period in 2020.
But the company did see its net losses increase year over year. Turo reported a net loss of $129.3 million, compared to $51.7 million for the same period in 2020.
Once Turo goes public, you'll need a brokerage account to invest. Consider opening a brokerage account today so you're ready as soon as the stock hits the market.
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It's impossible to predict how any stock will perform — and IPOs can be particularly volatile. Looking at the performance of similar companies can help you decide if now is a good time to buy Turo stock.
See how the following stocks are performing, and view details like market capitalization, the price-to-earnings (P/E) ratio, price/earnings-to-growth (PEG) ratio and dividend yield.Information on this page is for educational purposes only. Finder is not an advisor or brokerage service, and we don't recommend investors to trade specific stocks or other investments.
Finder is not a client of any featured partner. We may be paid a fee for referring prospective clients to a partner, though it is not a recommendation to invest in any one partner.
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