Car-Sharing Company Turo Revs Up Public Offering

Turo, which bills itself as the world’s largest car-sharing market, filed for its initial public offering on Monday

The San Francisco-based company said in a filing with the Securities and Exchange Commission that it plans to allocate as much as 5% of the shares to be sold to certain individuals, including hosts and guests who meet certain conditions in a direct share program.

Some of Turo’s large investors include IAC/InterActive  (IAC) – Get IAC/InteractiveCorp. Report, led by Chairman Barry Diller, and entities affiliated with August Capital, the Menlo Park, Calif., venture-capital firm.

Katherine E. Ackerman

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