Car rental app Turo is facing intense scrutiny after two deadly incidents in major US cities, with investigators potentially linking the company to the attacks. The 15-year-old startup, which has grown rapidly as a cheaper alternative to traditional rental services, is trying to distance itself from the violence.
Founded in 2010 and rebranded in 2015, Turo allows users to rent out their personal vehicles on the platform, often at lower prices than traditional fleet companies. Over 3.5 million people booked a vehicle through Turo last year, with 350,000 listings available in over 16,000 cities worldwide.
The company’s app functions similarly to Airbnb, where hosts can list their cars for rent by users. Turo offers various types of vehicles, including novelty cars and high-end sports cars. Hosts on the platform range from individuals renting out personal vehicles to those who list multiple vehicles and use them as a full-time business.
Turo provides liability insurance up to $750,000 and coverage options for drivers responsible for vehicle damage during rentals. The company has stated that it’s “heartbroken” over the violence in New Orleans and Las Vegas and is cooperating with law enforcement agencies investigating the incidents.
While investigators have found no definitive connection between the two attacks, they continue to look into potential links. Turo’s leadership has undergone changes over the years, including a shift from its founding CEO Shelby Clark to current CEO Andre Haddad.
The company has faced rumors of an initial public offering and recently teamed up with Uber to allow customers to rent vehicles through both apps. Despite the challenges, Turo reported $880 million in revenue in 2023 and $722 million for the first nine months of 2024.
Source: https://www.nytimes.com/2025/01/02/technology/turo-rental-app-new-orleans-las-vegas.html