by Andre Haddad
posted on March 5, 2025
On March 5, 2012, we launched Turo nationally in the US with a simple idea: we wanted to put the world’s 1.5 billion cars (1 billion back then) to better use.
Today, we celebrate 13 years of relentless drive and dedication to that mission. When I think of where we were versus where we are now, I can’t help but feel so proud of all the team has accomplished. We closed 2024 with a vibrant community of 3.5 million active guests, 140,000 active hosts, 340,000 active vehicles, and nearly 1,000 employees. Turo has a presence in over 16,000 cities across five countries, and our hosts share over 1,600 unique makes and models, making our selection extraordinarily differentiated from our competitors. We generated $2.5 billion in gross booking value and $1.5 billion in earnings for our hosts in 2024. And since our launch back in 2012, we have delivered over $5 billion in host earnings. Looking at our financial performance, we ended last year with $958 million in revenue, and we’re on track to hit the $1 billion revenue threshold this year. We have been profitable (EBITDA positive) for the past four years.
We’ve accomplished so much over the last 13 years, and when I look back to those early days, I imagine how shocked and impressed we’d be with how far our team has pushed this business forward. But it has never been a straight and obvious path to success.
Driven to persevere
As with most businesses, we’ve navigated peaks and valleys, and have had to climb many steep mountains to pioneer peer-to-peer car sharing. From convincing car owners to share their cars and become hosts, to solving complex insurance economics, to dealing with the volatility of the COVID pandemic, to watching with horror as the attacks on January 1, 2025 unfolded, adversity is no stranger. But if there’s one thing that unites our team, it’s our commitment to our core values of being grounded, expressive, bold, and, above all, driven. We’re driven to challenge the status quo. We’re driven to create, innovate, and iterate, always striving to make things better. Drive is in our DNA.
Driven to evolve
As an example, we are making an important change in the wake of the January 1 attacks. We’re empowering hosts to flag and expedite safety concerns more easily. When a host cancels a trip, they’ve always been prompted to tell us why, since canceling on a guest creates a bad experience. And while they’ve always been able to flag the trip if it made them uncomfortable, to further elevate any urgent hesitations they may have about starting a trip, they’ll soon see a more granular option — “I have a public safety or security concern”. Selecting this reason will escalate security concerns by providing a hotline that will be answered by a team of specialized Turo representatives. We expect this new option to launch at the end of March.
While we don’t believe that this enhancement would have prevented the attacks on January 1 from happening, we do believe it will help further strengthen our platform.
Driven to thrive
And we have a full roadmap ahead. We’ll continue to focus on building brand awareness and making Turo a household name. We’ll continue to raise the bar on the guest experience, so that guests keep coming back to the Turo app for all of their travel plans and mobility needs. We’ll continue to enhance the host experience, so that hosts can continue to build sophisticated, competitive businesses atop our platform. And we’re looking at long duration rentals as an exciting segment to invest in.
Over the last 13 years, we have been resilient and determined. Throughout it all, we’ve strived to respond to whatever comes our way with composure, confidence, and conviction. Despite our recent decision to postpone our plans to go public, we’re more dedicated than ever to our growth plans, and more committed than ever to pioneering and sustaining a strong, secure, trustworthy marketplace for many years to come. So now, we roll up our sleeves and continue our work to put the world’s 1.5 billion cars to better use.
Andre Haddad
Andre is the Turo CEO and a true car enthusiast. After many years in the consumer web space, he combines his passion for cars, technology, and the environment each day at Turo as he works to put the world’s one billion cars to better use.
