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Mar 12, 2024 · Turo, which allows people to rent out personal vehicles, was able to fill the niche. From 2021 to 2023, Turo’s net revenues have grown nearly 88% to $879.6 million last year. The company...
Aug 9, 2024 · For full-year 2022, Turo reported $154.7 million in net income on revenue of $746.6 million, up from a 2021 loss of $40.38 million on revenue of $469.05 million.
- Value Proposition
- Growth Flywheel
- How Does Turo Make Money: Revenue Model
- Competition For Hosts
- Competition For Guests
Hosts: 1. Income Generation: Hosts are empowered to transform their assets into earning engines, dramatically improving the economics of car ownership without needing to spend hours behind the wheel to monetize their assets. Hosts of all sizes have made more than $1.1 billion in the aggregate on Turo since its inception. 2. Scalability & Flexibilit...
Turo’s platform benefits from the self-reinforcing value proposition between hosts and guests. Hosts engage with Turo due to the unique income generation opportunity, becoming increasingly engaged as they earn more. As existing hosts grow and new hosts join, Turo’s value proposition to guests strengthens as guests have access to a unique selection ...
Turo made $150 Million in 2020, representing a 6% growth from $141.7 million in 2019. For the nine months that ended September 30, 2021, Turo generated net revenue of $330.5 million, representing 207% growth from $107.8 million for the same period in 2020. Turo primarily makes money from fees charged to both hosts and guests to complete a booking o...
Turo competes to attract and retain hosts who share their vehicles on our marketplace, as hosts have other options should they choose to generate income from car sharing. Turo believes its marketplace is more valuable to hosts than other peer-to-peer car-sharing platforms due to greater guest demand, broader geographic footprint in the United State...
Turo competes to attract and retain guests, who have a range of options to find and book vehicles. Turo’s primary competitors are in the long-distance and long-duration automobile transportation space, including: 1. Peer-to-peer car-sharing competitors in the United States, such as Getaround, Inc., or Getaround, and ANIHI Newco, LLC (doing business...
Jun 3, 2022 · Among the companies in our analysis, only Turo experienced a year-over-year decline—of 3 percent—in sales per customer in April 2022. Average sales per customer grew the most year-over-year at Hertz Global Holdings, with a 7 percent increase.
Jan 24, 2022 · Where Are the Profits? 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...
- Senior Hospitality Editor
Mar 27, 2023 · In 2022, Turo’s revenues grew 59% to $746.6 million from $469 million in 2021. The company’s performance in the last two years represents a dramatic change from its $141.7 million and $149.9...
Jun 9, 2023 · Claudia Assis. Car-sharing company Turo late Friday updated its initial public offering filing, saying that revenue rose 30% to $186 million in first quarter, from $143 million in the year-ago...
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