Tech

Car-sharing marketplace Turo files confidentially for U.S. IPO

Key Points
  • Turo is the latest to explore going public this year, after a string of debuts including SoftBank-backed Full Truck Alliance, electric-vehicle maker Lucid Group, and Plus, a self-driving truck technology startup.
  • The round also featured Turo acquiring Daimler's peer-to-peer, car-sharing platform Croove
David Chu (l to r) and Tyler Karon, both of Alameda, talk as Karon picks up Chu's car which he rented through Turo in Alameda, Calif., on Friday, February 23, 2018.
Lea Suzuki | San Francisco Chronicle | Hearst Newspapers via Getty Images

Daimler-backed car-sharing marketplace Turo on Monday confidentially filed paperwork with regulators for an initial public offering in the United States.

Turo is the latest to explore going public this year, after a string of debuts including SoftBank-backed Full Truck Alliance, electric-vehicle maker Lucid Group, and Plus, a self-driving truck technology startup.

In 2017, Daimler and South Korea's SK Holdings co-led a $92 million financing round in Turo, which is also backed by Alphabet Inc's venture capital arm, GV.

The round also featured Turo acquiring Daimler's peer-to-peer, car-sharing platform Croove.