Peer-to-peer car-sharing marketplace Turo raises $250M at over $1B valuation from IAC

Darrell Etherington
Peer-to-peer car-sharing marketplace Turo raises $250M at over $1B valuation from IAC

Car-sharing startup Turo has raised $250 million in a Series E round of funding from IAC, the internet media company that owned and spun out Match.com and OkCupid. IAC makes sense as a strategic partner for Turo because of its proven track record of helping companies scale to "household name" recognition status, Haddad said in a blog post. Turo says its growth rate overall has been at around 2x over the past two years, and at 8x in its burgeoning international markets, including the U.K. and Germany (where it took over Daimler's car-sharing business alongside a strategic investment deal and officially launched last year).