Our Story

Market Insights


Sign In

Sign Up
    Market InsightsRelevant Articles


Active Turo secondary trading pointing to an imminent IPO?




Turo, the world’s largest car-sharing marketplace, recently filed yet another update to its SEC IPO paperwork. As of June 2023, the company has 175,000 active hosts (car owners) and 3.2 million active guests (riders) in over 12,000 cities. It has also been one of the more actively traded issues in the private secondary market over recent years, and has experienced a rare and notable upward trend in pricing in recent months. 

Turo first filed its S-1 with the SEC in January 2022, announcing its interest to go public. However, 2022 market volatility caused the company to pause its IPO plans. Since its filing, Turo has continued to release regular amendments to the document, signalling it has yet to give up plans to go public.  

With this latest filing, Bloomberg reports that Turo has restarted its IPO plans and may finally list as early as next month. Compared to Turo's fundraising in 2020, which valued the company at $1.28B, secondary trading provides a more continual insight into investors’ demand for the company's shares. Considering recent IPO announcements like Klaviyo and Arm, it's reasonable to anticipate that Turo will enter the public markets at a premium to its secondary trading values, especially given the steady financial results evident in Turo's recent S-1 amendment filing.

Turo has traded actively on Hiive, and has experienced a consistent uptrend in share pricing. In September 2022, Turo sellers were accepting bids at $8.50 per share, compared to the current $11.00 per share they were accepting early this month before Turo stopped considering transfer requests. This gradually increasing pricing trend over the past year, in spite of a significant down market in the venture world, reflects a combination of investor confidence in the company’s continued commercial momentum, along with consistently rising expectations for a near-term IPO.

Stay Informed.Subscribe for updates on Hiive’s exclusive private market data.

Trusted by:

Yahoo! FinanceBloombergAxios

Please Read This Important Legal Notice and Disclosures:

The information presented in this media is provided for your informational purposes only and does not constitute an offer by Hiive to buy or sell, or a solicitation of an offer, or a recommendation, to buy or sell, any security. Hiive is not, by this media, providing financial, business, investment, legal, tax or other professional advice nor should this media be the basis for making any decision that may affect your financial or other interests. This media does not constitute a prediction of future events or performance. This media is not a research report and commentary contained herein should not be considered to be research. The information in this media, some of which may have been obtained from third-party sources, is provided on an “as is” basis. Hiive does not guarantee the accuracy or completeness of information in this media and does not assume any liability for reliance on the information provided herein. © The Hiive Company Limited 2024. All rights reserved. Reproduction prohibited.

Find Hiive on BrokerCheck. Before you work with Hiive you should review the Form CRS and these important disclosures. Any references to “Hiive” are to The Hiive Company Limited and Hiive Markets Limited."

Related articles

Trade private stock now.*

Sign Up

* Investing in private unregistered securities is highly speculative and entails a high degree of risk. These securities are inherently illiquid and there is no guarantee that a market will be available for them. Accordingly, investment in these securities is appropriate only for those investors who can tolerate a high degree of risk, can withstand a total loss of investment, and do not require liquidity of their investment.

The marketplace for private stock.




Terms of Use


*Securities are offered by Hiive Markets Limited, member of FINRA / SIPC and registered exempt market dealer in Ontario and British Columbia. Brokerage fees may apply. Find Hiive on BrokerCheck.

ⁱBased on Republic's list of tier-1 venture capital firms.

ᵅSecurity Specialists are registered representatives of Hiive Markets Limited and have no specialized expertise in the evaluation or recommendation of investments. Hiive does not provide investment advice and Hiive customers should obtain independent advice prior to buying or selling on Hiive.

© The Hiive Company Limited 2024. By using this site, you accept our Terms of Use and Privacy Policy. Before engaging with this broker-dealer, review these important Disclosures and the Form CRS (US) and Relationship Disclosure (Canada).