Zhitong Finance learned that, according to people familiar with the matter, the car-sharing company Turo Inc., which submitted initial public offering (IPO) documents last year, has restarted its listing plan, and is likely to go public as early as this fall. People familiar with the matter said Turo's investor roadshow is likely to begin as early as October. People familiar with the matter said that the listing time is still likely to change, depending on market conditions and the performance of a number of current IPOs such as Arm Holdings Ltd., Instacart Inc., and Klaviyo Inc. The company has yet to make a final decision and its IPO plans are likely to change.

Turo, which competes with Getaround Inc., connects car owners with short-term renters, much like “Airbnb in the automotive sector.” By offering short trips from a few hours to days or weeks, Turo is also trying to compete with traditional car rental companies.

According to documents submitted by Turo last year, its biggest investors include IAC/InteractiveCorp, August Capital, Canaan Partners, G Squared, Shasta Ventures, and GV and its subsidiaries. According to the prospectus, the company cooperated with banks such as Morgan Stanley and J.P. Morgan Chase last year.

Data provider PitchBook has raised around $500 million since 2009, according to data provider PitchBook. According to PitchBook, the company's last known valuation was $1.2 billion in 2019.