Vroom vroom… the AirBnb (ABNB) of cars, Turo (TURO), is racing towards an IPO. Turo was founded in 2010 and allows private car owners to rent out their vehicles through the Turo app. It's parked (lol) in around 56 countries and boasts 85,000 hosts. The popularity of this app rose due to affordable short-term rentals during Covid-19 when supply chain issues skyrocketed the fares. This is an especially lucrative business for car-owners as their expensive vehicles tend to spend around 95% of the day idle and remain under-utilized.

However, Turo also had to shut its services in Germany due to losses. Turo and other car rental apps have been used by criminals for human trafficking, which increases litigation costs. Yikes!