Daimler-backed car-sharing marketplace Turo Inc. confidentially filed paperwork with regulators on Monday for a U.S. initial public offering, seeking to take advantage of the country’s red-hot capital markets.
The company’s platform allows car owners in 5,500 cities across the United States, Canada and the U.K. to rent out their vehicles. It has over 450,000 listed cars ranging from pickup trucks and minivans to luxury options such as Lamborghini, Rolls-Royce and Porsche vehicles.
Several other venture-funded companies in the automobile space, including SoftBank-backed Full Truck Alliance and self-driving truck startup TuSimple Holdings, have also gone public this year.
