Turo, the peer-to-peer car-sharing startup, has initiated the confidential process of filing for an initial public offering with the U.S. Securities Exchange Commission.
The number of shares to be offered in the IPO and the price range have not yet been determined, the company said in a statement. Turo declined to provide additional information to TechCrunch.
The eleven-year-old Turo’s marketplace is analogous to AirBnB, letting car owners post an ad to rent out their vehicle on its app and website. Cars are available to rent in more than 5,500 cities across four countries, Turo says on its website. That includes Germany, where Turo took over Daimler AG’s car-sharing subsidiary