Company: Turo, San Francisco, CA
Company Description: Turo is the leading car sharing marketplace, reinventing the economics of car ownership and travel. Turo empowers people to safely share their cars with travelers in 5,500+ cities - transforming unused vehicles, a cost center, into earnings engines.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Company of the Year - Consumer Services - Large
Nomination Title: Turo
Tell the story about what this nominated organization has achieved since January 1 2017 (up to 650 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms.
For decades, car owners were resigned to the fact that their vehicles were simply underutilized, depreciating assets. Enter Turo. Eight years ago, as Turo’s founder, Shelby Clark, biked down a street lined with parked cars in the dead of winter, he was convinced that there had to be a way to put the world’s one billion cars to better use. Shelby’s eureka moment has since developed into Turo, the international peer-to-peer car sharing marketplace that is redefining the economics of car ownership. Turo has grown into a marketplace where car owners on two continents share their vehicles to help cover their auto payments, and travelers book the exact car they want for their trips.
Following our expansion to Canada and the UK in 2016, automobile manufacturers and industry leaders have taken note of Turo’s impact on people’s relationships to their cars. The ability to leverage an underused asset on Turo to cover a car payment, fund an education, or other meet other goals, has radically transformed the way individuals and families consider their investment in a car and plan their financial futures. This shift has been significant enough to compel leading brands in the automotive and insurance world, including Daimler and Liberty Mutual, to not only invest in Turo, but kick-off strategic business partnerships with us as well. These key players recognized that Turo is changing the landscape of car ownership.
As part of Daimler’s strategic investment and partnership, Turo acquired Daimler’s German car sharing service, Croove. In January 2018, Croove was relaunched as Turo Germany and is the first expansion of Turo’s peer-to-peer car sharing marketplace beyond North America.
Turo continues to solidify its status as the world’s leading car sharing marketplace by accelerating growth. Since the start of 2017, signups more than doubled from two million to five million and vehicle listings jumped from 120,000 to more than 200,000. Turo is available in more than 5,500 cities across the U.S., Canada, Germany and the UK, while our US competitors are only in a handful of cities. The network effect Turo has created allows Turo users to open their app in thousands of cities across the globe and book a car from a local car owner.
In bullet-list form, briefly summarize up to ten (10) of the chief accomplishments of this organization since the beginning of 2017 (up to 150 words).
-Raised $92 million in Series D funding led by leading carmaker, Daimler, to amplify our efforts to increase growth, customer experience, and scale
-Partnered with top insurers, Liberty Mutual and Allianz in the U.S. and Germany, to develop an even safer marketplace
-Doubled growth in signups, closing 2016 with two million users and 2017 with five million users
-Doubled our number of Turo trip days from 2016 to 2017, growing from two million to four million trip days complete
-In order to quadruple brand awareness, we hired Andrew Mok as our CMO, and to support efforts to scale, we welcomed Lorie Boyd as our new VP of People
-Earned a spot on San Francisco Business Times’ 2018 Best Places to Work list
-Our CEO, Andre Haddad, joined Founders for Change, an initiative that is backed by over 300 founders and CEOs who encourage venture capitalists to diversify their firms.
Of the following measures of success, which ONE do you want the judges to most appreciate about your organization's story of achievement since the beginning of 2017? Fast Growth