Careers at Turo
Turo connects a community of car owners with renters for long term car sharing.
How does it work
Once an applicant’s identity is verified with Facebook, Google, or by email, their eligibility to rent vehicles is determined. Through the mobile application, renters can choose from over 2,500 vehicles throughout the country, including vintage and luxury models. Once the vehicle selection is approved by the owner, the renter can select one of three methods to start driving and is to be returned in the same condition with a replenished tank of gas.
Renters can meet with the owner locally to pick up their desired vehicle. Certain vehicles can be delivered directly to a designated address. By coordinating with the owner, arrangements can be made to bring the vehicle to the renter within a certain mile radius. A vehicle can also be made available at over 300 airports throughout the US.
Owners can easily make extra income by listing their car and making arrangements to meet or deliver it to drivers in their area. Vehicles can be made available for short day trips or long term rentals. The pick up of the vehicle can be handled through the owner themselves or delegated to a delivery agent. Turo covers rentals with a $1 million insurance policy.
Turo was originally founded as RelayRides in 2010 by Shelby Clark, with the help of her Harvard Business School classmates Nabeel Al-Kady and Tara Reeves. Based in Boston, MA, RelayRides expanded their coverage nationwide in 2012 out of their headquarters in San Francisco, CA.
In 2013 RelayRides acquired Wheelz, a former car sharing competitor, which increased their inventory and allowed them to take advantage of the feature that allowed customers to unlock cars without having to meet the owner. In the same year the New York State Department of Financial Services fined RelayRides for misrepresenting insurance coverage for its users and ordered them to cease operations. New York is now the only state where its services aren’t offered.
In 2015, RelayRides relaunched as Turo with an emphasis on its availability of long term rentals. In 2016 the company announced its plans to expand its services to Canada. They have also open their platform to independent car rental agencies. By providing their own commercial car insurance, agencies are able to keep a majority of the profits.
Prior to 2014, RelayRides received $52.5 million in funding from Canaan Partners, August Capital, Google Ventures, Shasta Ventures, and Trinity Ventures. They received an additional $47 million in funding through the venture capital firm Kleiner Perkins Caufield & Byers in 2015.
Forbes included Turo as one of its "hottest on-demand startups" in 2015, USA Today listed it as the "Best Technology to Take on a Trip”, and it has also been listed as a "Best Travel App” by Fathom. Through connecting drivers and renters through its iOS and Android applications in over 4,500 cities it offers rental cars at an average of 35% less than traditional rental car companies.
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