Turo, a peer-to-peer car sharing startup, has begun the confidential process to file for an initial public offer with the U.S Securities Exchange Commission.According to a statement, the company did not specify the number of shares that would be offered for the IPO or the price range. TechCrunch was not provided with additional information by Turo.Turos, an eleven-year-old marketplace for car rental, is similar to AirBnB. Car owners can post ads to rent their vehicles on the app and website. Turo claims that cars are available for rent in over 5,500 cities in four countries. This includes Germany, where Turo acquired Croove, a car-sharing company of Daimler AG, along with an investment deal.In July 2019, the company received a $250 million Series E, which helped it reach unicorn status and surpass the billion-dollar valuation mark. CEO Andre Haddad stated in a blog post. Turo added $30 million to its funding round in February. This brought the total to over $500,000,000.Turo was not able to have a smooth ride during the pandemic. According to data tracker Layoffs.fyi, Turo laid off 30% (or 108) of its workforce in March 2020.ockquote>
