Ultimately, there is a way around the supply and demand imbalance in ride-shares, but it may be cheaper for customers than investors. Car-share platforms Turo and Getaround, which allow customers to own a loan vehicle, are coming to public markets in different lanes.
Both were founded more than a decade ago. Turo filed for a traditional public offering In January, while Getaround opted to merge with a special-purpose acquisition company, Interprivate II Acquisition Corp. The transaction is expected to close in the second half of this year. Assuming both listings become successful, Turo and Getaround will face an uphill battle in the public markets as listed companies become too hard-tape for the technology. The ride-share sector hasn’t been particularly favorable, despite years of losses and flashes of sustainable profitability.