Turo lets you rent your neighbor’s car—or rent out your own. The peer-to-peer car sharing platform has become the go-to alternative to traditional rental companies, with 360,000+ vehicles available across the US, Canada, UK, Australia, and France. The company filed for an IPO in early 2024.
And then… it stayed private.
The short answer: You cannot buy Turo stock through a regular brokerage account. Despite filing an S-1 with the SEC, Turo has not completed its IPO. Accredited investors may have limited access through secondary market platforms like Hiive or EquityZen, but availability is uncertain. Retail investors have no direct path—but can get exposure through IAC, which owns 31% of Turo.
This guide explains Turo’s business, why the IPO hasn’t happened, how accredited investors might access shares, and what alternatives exist for everyone else.
Quick Summary
| Attribute | Details |
|---|---|
| Company | Turo Inc. |
| Founded | 2009 (as RelayRides) |
| Headquarters | San Francisco, California |
| CEO | Andre Haddad |
| Latest Valuation | ~$1.7 billion (2021) |
| Public Stock | Not available (IPO filed but not completed) |
| Retail Access | Via IAC (owns 31%) or wait for IPO |
| Accredited Access | Limited via secondary markets |
| IPO Status | S-1 filed January 2024; not yet priced |
What Is Turo?
Turo is the largest peer-to-peer car sharing marketplace. Think Airbnb, but for cars. Vehicle owners list their cars on the platform; renters book them for hours, days, or weeks. Turo handles the marketplace, payments, and insurance—taking a commission on each transaction.
How It Works
For Car Owners (Hosts):
- List your vehicle on Turo with photos, availability, and pricing
- Set your own rates and rules (mileage limits, delivery options)
- Turo provides insurance coverage during rentals
- Earn money when your car would otherwise sit idle
For Renters (Guests):
- Browse available vehicles by location, type, and price
- Book directly through the app or website
- Pick up from owner or request delivery
- Often cheaper than traditional rental companies
Turo’s Cut:
- Takes 10-40% of rental income depending on protection plan
- Higher protection = lower host earnings but more coverage
- Also earns from renter fees and premium features
Scale and Reach
As of 2024:
- 360,000+ active vehicle listings globally
- Available in: United States, Canada, United Kingdom, Australia, France
- 2023 Revenue: $879.7 million
- Employees: ~931
Turo has grown from a niche startup to a genuine alternative to Hertz, Avis, and Enterprise—especially for travelers wanting unique vehicles or local pickup options.
Key Investors
Turo has raised substantial capital:
| Date | Round | Amount | Key Investors |
|---|---|---|---|
| 2019 | Series D | $250M | IAC |
| 2021 | Series E | — | IAC, existing investors |
IAC (InterActiveCorp) is the dominant investor, owning approximately 31% of Turo. This makes IAC stock the primary way retail investors can get indirect Turo exposure.
The IPO That Hasn’t Happened
Turo filed its S-1 registration statement with the SEC in January 2024, signaling intent to go public. The company planned to list on the NYSE.
More than a year later, the IPO still hasn’t priced.
What the S-1 Revealed
The filing disclosed key financials:
- 2023 Revenue: $879.7 million
- Profitability: The company was profitable in 2023
- Growth: Revenue growth slowed significantly in 2023 after pandemic-era surge
- Business Model: Marketplace fees from hosts and renters
Why the Delay?
Several factors likely contributed:
Market Conditions: The IPO market has been challenging since 2022. Many companies that filed have delayed or withdrawn.
Growth Deceleration: Turo’s revenue growth slowed substantially in 2023 after explosive pandemic-era growth. Investors prefer accelerating or stable growth.
January 2025 Incidents: On New Year’s Day 2025, two separate deadly incidents involved vehicles rented through Turo—a vehicle ramming attack in New Orleans and a Tesla Cybertruck explosion in Las Vegas. While Turo stated it found “no red flags” in the renters’ applications, the incidents raised questions about platform safety and screening.
Valuation Expectations: The company may be waiting for better market conditions to achieve its target valuation.
Current Status
As of early 2026:
- S-1 remains on file but has not been updated recently
- No announced IPO date
- Company continues operating and growing
- The January 2025 incidents may have added complexity
Can You Buy Turo Stock?
For retail investors: No direct access. Turo is private, and the IPO hasn’t happened. Your best option is buying IAC stock for indirect exposure.
For accredited investors: Potentially, but with significant caveats. Turo shares may occasionally appear on secondary market platforms, but availability is uncertain given the stalled IPO.
The Accredited Investor Barrier
The SEC defines accredited investors as individuals meeting at least one of these criteria:
Income Test:
- $200,000+ annual income for the past two years (individual), OR
- $300,000+ combined with spouse
- Plus reasonable expectation of the same income this year
Net Worth Test:
- $1 million+ net worth, excluding your primary residence
Professional Credentials:
- Series 7, 65, or 82 licenses
- Certain other professional designations
Reality Check: Even if you qualify as accredited, finding Turo shares is difficult. The stalled IPO creates uncertainty that suppresses secondary market activity.
How to Invest in Turo (If Accredited)
For accredited investors willing to navigate the complexity:
Secondary Market Platforms
- May have Turo listings
- Minimum investment: Typically $10,000-50,000+
- Fees: 5-8%
- Availability: Uncertain
- Creates single-company funds
- Minimum investment: $10,000+
- Fees: 5-8%
- Availability: Check platform for current offerings
- Institutional focus with higher minimums
- Minimum investment: $25,000-100,000+
- Availability: Variable
Special Considerations for Turo
Unlike companies with clear IPO paths, Turo presents unique challenges:
- Stalled IPO: No clear timeline for liquidity
- Valuation Uncertainty: Hard to price without recent funding or public comparables
- Incident Overhang: January 2025 events may affect perception
- Limited Sellers: Employees and investors may be holding for IPO
Alternatives for Retail Investors
If you can’t access Turo directly—which describes most people—here are legitimate ways to get exposure to the car sharing and travel rental market.
The Best Option: IAC (IAC)
IAC owns approximately 31% of Turo, making it the most direct public market exposure.
- Ticker: IAC
- Market Cap: ~$4 billion
- Turo Stake: ~31%
- Other Holdings: Dotdash Meredith, Care.com, Angi, and other internet businesses
The math: If Turo is worth $1.7 billion and IAC owns 31%, that’s roughly $530 million of Turo value within IAC. But IAC is a diversified holding company—Turo is a meaningful but not dominant piece.
Reality check: You’re not buying pure Turo exposure. You’re buying a portfolio of internet businesses that happens to include a large Turo stake. If Turo IPOs successfully, IAC benefits. If Turo struggles, it’s diluted by other holdings.
Traditional Car Rental Companies
If you believe in the car rental market broadly:
Avis Budget Group (CAR)
- Traditional rental giant
- Owns Avis, Budget, Zipcar brands
- Market cap: ~$2-3 billion
- Competes directly with Turo
Hertz Global Holdings (HTZ)
- Another traditional rental major
- Has struggled post-pandemic
- More volatile stock
- Competes directly with Turo
Sharing Economy Plays
If you believe in the peer-to-peer marketplace model:
Airbnb (ABNB)
- The original sharing economy success
- Similar marketplace model to Turo
- Much larger and more established
- Proven profitability
Uber (UBER)
- Transportation platform
- Different model but overlapping use cases
- Global scale and profitability
Comparison Table
| Company | Ticker | Turo Exposure | Market Cap | Model |
|---|---|---|---|---|
| IAC | IAC | 31% ownership | ~$4B | Holding company |
| Avis Budget | CAR | Competitor | ~$2-3B | Traditional rental |
| Hertz | HTZ | Competitor | ~$1-2B | Traditional rental |
| Airbnb | ABNB | Similar model | ~$80B | P2P accommodation |
| Uber | UBER | Alternative | ~$150B | Ridesharing |
Risks of Pre-IPO Turo Investment
Before pursuing Turo shares through any channel:
IPO Uncertainty
The biggest risk is simple: the IPO may not happen soon—or at all. Companies can withdraw S-1 filings. Market conditions can remain unfavorable. Strategic alternatives (acquisition) could emerge.
What this means: Any secondary market investment could be locked up for years with no clear exit.
January 2025 Incident Fallout
Two deadly incidents on New Year’s Day 2025 involved Turo-rented vehicles:
- A vehicle ramming attack in New Orleans
- A Tesla Cybertruck explosion in Las Vegas
Turo stated it found “no red flags” in the renters’ applications, but the incidents raise questions about:
- Platform safety and screening procedures
- Regulatory scrutiny
- Insurance and liability exposure
- Brand reputation
The long-term impact is unclear, but it adds risk to an already uncertain situation.
Competitive Pressure
Turo faces competition from multiple directions:
Traditional Rental Companies: Hertz, Avis, Enterprise have massive fleets, airport locations, and established customer relationships. They’re also launching their own peer-to-peer and car sharing initiatives.
Other P2P Platforms: Getaround and regional competitors offer similar services.
Ride-Sharing: Uber and Lyft provide transportation alternatives that eliminate the need for a rental car entirely.
Regulatory Risk
Peer-to-peer car sharing operates in a regulatory gray area:
- Insurance requirements vary by state and country
- Some jurisdictions have restricted or banned P2P car sharing
- Airport access and licensing can be contentious
- The January 2025 incidents may accelerate regulatory attention
Growth Deceleration
Turo’s revenue growth slowed significantly in 2023 after pandemic-era acceleration. Investors pay premium valuations for high growth—if growth continues slowing, valuation multiples compress.
When Will Turo Go Public?
Official Status
Turo filed its S-1 in January 2024 but has not announced an IPO date. The filing remains active but hasn’t been updated with pricing information.
Likely Scenarios
IPO in 2026: Possible if market conditions improve and January 2025 incident concerns fade. The company was profitable, which helps.
Continued Delay: More likely if the IPO market remains challenging or if the company needs time to address incident-related concerns.
Acquisition: IAC or another strategic buyer could acquire Turo outright, providing liquidity without an IPO.
Withdrawal: The company could withdraw its S-1 and remain private indefinitely.
What to Watch
- S-1 amendments: Updates to the filing signal renewed IPO intent
- IAC earnings calls: IAC discusses Turo performance and outlook
- Market conditions: Broader IPO market health affects timing
- Regulatory developments: Any new rules affecting P2P car sharing
The Bottom Line
Can you buy Turo stock? Not directly. The company filed for an IPO in early 2024 but hasn’t gone public. Accredited investors may find limited secondary market access, but availability is uncertain.
For retail investors: Your best option is IAC (IAC), which owns 31% of Turo. You’re not getting pure Turo exposure—IAC is a diversified holding company—but it’s the most direct public market path to Turo’s success.
For accredited investors: Secondary market platforms like Hiive or EquityZen may occasionally have Turo shares, but the stalled IPO and January 2025 incidents create unusual uncertainty. This isn’t a typical pre-IPO opportunity.
For everyone: Turo built a genuine alternative to traditional car rental, with 360,000+ vehicles and nearly $900 million in annual revenue. But the path to public markets has stalled, and recent events have added complexity. Whether you pursue exposure through IAC, wait for the IPO, or look at alternatives, understand that Turo’s timeline is unclear.
FAQ
Can you buy Turo stock?
No, you cannot buy Turo stock through a regular brokerage account. Turo filed for an IPO in January 2024 but has not completed the offering. Accredited investors may have limited access through secondary market platforms. Retail investors can get indirect exposure through IAC, which owns 31% of Turo.
Is Turo publicly traded?
No. Turo filed an S-1 registration statement with the SEC in January 2024 but has not priced or completed its IPO. The company planned to list on the NYSE under ticker TURO, but the offering has been delayed.
When will Turo go public?
There is no announced IPO date. Turo filed in January 2024, and the offering remains pending. Market conditions, growth deceleration, and the January 2025 vehicle incidents may have contributed to the delay. Most observers expect a potential IPO in 2026 or later, if market conditions improve.
How much is Turo worth?
Turo was valued at approximately $1.7 billion in its 2021 funding round led by IAC. The company reported $879.7 million in revenue for 2023. Current valuation is uncertain given the stalled IPO and changing market conditions.
How can I invest in Turo as a retail investor?
The most direct option is buying IAC stock (ticker: IAC), which owns approximately 31% of Turo. You can also invest in competitors like Avis Budget Group (CAR) or Hertz (HTZ), or sharing economy companies like Airbnb (ABNB) that operate similar marketplace models.
What happened with Turo on January 1, 2025?
Two separate deadly incidents on New Year’s Day 2025 involved vehicles rented through Turo—a vehicle ramming attack in New Orleans and a Tesla Cybertruck explosion in Las Vegas. Turo stated it found “no red flags” in the renters’ applications. The incidents raised questions about platform safety but their long-term impact on the company remains unclear.
Sources
- SEC: Turo Inc. S-1 Registration Statement (January 2024)
- SEC: Accredited Investor Definition, Rule 501 of Regulation D
- Wikipedia: Turo company history and business model
- TechCrunch: Turo IPO filing coverage
- CNBC: January 2025 incident reporting
- New York Times: “Trucks in New Orleans Attack and Las Vegas Explosion Were Rented Using the Same App”
- Yahoo Finance: IAC, CAR, HTZ, ABNB, UBER stock data
- Hiive, EquityZen, Forge Global: Platform documentation