Does Turo have a competitor?
Turo’s top competitors include National Car Rental, Silvercar, Fox Rent A Car, Avis Budget Group and Getaround. Turo is a company that operates an online car rental marketplace.
Who funded Turo?
In July 2019, InterActiveCorp (IAC) invested $250 million in venture capital funding. The investment made IAC Turo’s largest shareholder.
What is Turo’s business model?
Turo is an innovative peer-to-peer car-sharing marketplace with a revenue model linked to its insurance offering. It has an impressive user base across the US, Canada, and the UK, with more than 14 million users in 5,500 cities. Turo allows private car owners to rent out their vehicles via a website and mobile app.
What’s another app like Turo?
12 Mobile Apps and Sites Like Turo for Car Sharing and Renting
- Gig Car Share.
- SHARE NOW.
- Enterprise CarShare.
Is Turo growing?
Turo enjoyed accelerated growth in 2021. In the first nine months, the startup turbo-boosted its revenue by about 300 percent, year-over-year, to $330 million. Observers would expect growth like that in 2021, however, because it was an ideal year to be helping people access cars for travel.
Is Turo like Airbnb?
Turo functions like an Airbnb for cars in that you can book vehicles directly from their owners. The company has over 450,000 listings across the US and Canada, so it’s available in most major cities, and I have found it to be more affordable than booking through companies like Hertz and Enterprise.
Is Turo still profitable?
In contrast, Turo, which has never been profitable, saw its profit picture worsen last year. The company generated $129.3 million in net losses for the first nine months of the year, compared to a net loss of $97.1 million in 2020 and $98.6 million in 2019.
How is Turo different from Uber?
Turo offers a business model like Uber but for rental cars, allowing car owners rent their personal vehicles to interested customers. The app takes care of communications between the car owner and renter, as well as payments, insurance, and dispute resolution if necessary.
What is better then Turo?
Of all the Turo alternatives, Getaround is likely its biggest competitor. The service operates in multiple cities, such as the following. Founded in 2011, Getaround offers flexibility by offering plenty of different types of vehicles. For example, you can find environmentally-friendly cars if that’s your thing.