Turo CEO Andre Haddad outlines the car-sharing platform's strategy for global growth, how it differs from Airbnb, and its plans for long-term dominance.
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| Turo’s CEO reveals how the car-sharing platform is aiming for long-term dominance, despite setbacks, and why it’s following a path inspired by Amazon. Image Courtesy: SMH |
Sydney, Australia — February 23, 2025:
Turo’s CEO, Andre Haddad, has outlined the platform’s ambitions for long-term growth and how it plans to dominate the global car-sharing market. Despite setbacks—such as a cancelled IPO and its association with two fatal incidents in the US—Haddad remains confident in Turo’s ability to sidestep the pitfalls that have troubled other giants in the sharing economy.
Since its launch in Australia in 2022, Turo has rapidly become the largest car-sharing marketplace in the country, with more than 3,000 active listings. The platform has almost doubled its number of car owners and customers over the past year, positioning itself as a key player in the Australian market.
Unlike traditional rental companies, Turo doesn’t own or maintain any vehicles. Instead, it allows private car owners to list their cars at their own prices and rent directly to drivers. The platform takes a commission of 10% to 40% of the rental income, depending on the car’s listing and agreement.
While the company’s expansion continues, Turo recently delayed its IPO plans, citing concerns over market timing. Haddad explained that, despite an initial filing to go public three years ago, the company decided to wait for more favorable conditions before proceeding.
Often referred to as the "Airbnb for cars," Haddad prefers to compare Turo to Amazon in its vision for future growth. Drawing on his experience at eBay in the 2000s, Haddad explained that Turo aims to blend the strengths of a platform model with the seamless customer experience Amazon has pioneered.
Haddad recalled the competitive shift that occurred when Amazon opened its platform to third-party sellers, a move that ultimately changed the landscape for eBay. “In 2005, eBay was the largest internet company in the US, maybe even the world,” he said. “Amazon was struggling at the time, but they pivoted by letting third-party sellers onto their platform, which completely reshaped their business.”
Today, Amazon’s third-party merchant business makes up three-quarters of its total revenue. “That’s what we want to do with Turo. We’re focused on creating a platform that’s as user-friendly as Amazon’s, while maintaining the community-driven nature of our car-sharing model,” Haddad said.
Turo’s global ambitions are clear as the company works to scale its operations, expand its user base, and continue disrupting the traditional car rental industry. With its sights set on becoming the go-to platform for car sharing worldwide, Turo aims to transform the way people rent vehicles, and in doing so, challenge the status quo of the entire rental market.