![]() September 2023 reporting by Bloomberg indicates Turo is ready to go public. The company has updated its S-1 filing multiple times, indicating it plans to move forward, hopefully in 2023. Turo filed for an IPO with the SEC in January 2022 but did not follow through that year. Originally incorporated as RelayRides in August 2009, the company changed its name to Turo in 2016. Cars are expensive, and many consumers don’t want to own them.Entrepreneurs seek income from idle assets.Turo believes it is fueling multiple seismic consumer behavior shifts that represent a long-term opportunity. More than 160,000 hosts, 300,000 vehicles, and 2.7 million guests are active on Turo as of late 2022. Guests typically rent cars for excursions, test drives, local day trips, or short-term getaways. The platform enables “hosts” (car owners) to turn their idle cars into income-producing assets by renting them to “guests”. Turo is the world’s largest car-sharing marketplace. In June 2023, Rubrik hired Goldman Sachs, Barclays Plc, and Citigroup Inc as underwriters for its IPO expected in 2024 “if the IPO market becomes more welcoming”. The deal is expected to raise $500-$700 million. With heavy venture capital ownership, keep an eye out for an upcoming IPO or acquisition in the coming year.īloomberg reported on September 1st, 2023, that Rubrik aims to IPO as early as October 2023 pending market conditions. Microsoft invested in Rubrik in August 2021. Rubrik’s cloud products, combined with integrations and company partnerships, help to strengthen cybersecurity defenses. Therefore, systems and processes should verify all users before accessing a network or application. Zero trust methods are based on the assumption that all devices, applications, and users are untrustworthy. Zero trust is an information technology term regarding a methodology to thwart cybersecurity and ransomware attacks. Rubrik is a cloud data management and security company based in Palo Alto, CA, calling itself the “Zero Trust Data Security” company. ![]() The SEC S-1 filing indicates the company has more than 130,000 customers, $585 million in revenue for the fiscal 2022 year, and 56% revenue growth. Goldman Sachs and Morgan Stanley will share the primary underwriting duties. Klaviyo filed confidentially for an IPO in May 2023 and released the S-1 to the public in August 2023. The Boston-based company partners with multiple e-commerce giants such as Shopify, WooCommerce, and Stripe. Klaviyo is a marketing automation company offering products to engage customers via email and SMS. Read more about the Instacart IPO and get access to the S-1 filing. Customers pay a delivery fee ($3.99) plus a 5% service fee. Then Instacart hires personal shoppers who enter the stores, select and pack items, and deliver them to the customers. The company partners with more than 85,000 grocery stores and “big box” chains to hand-pick store items and deliver them to customers.Ĭustomers shop online using the Instacart Marketplace via desktop or handheld devices. The filing comes after the company cut its internal valuation down to $12 billion after peaking at $39 billion in 2021. Robinhood also offered IPO shares to customers. SoFi Investhas offered IPO shares to customers. Instacart has hired Goldman Sachs to underwrite the Instacart IPO.
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