How has Turo¿s peer-to-peer car sharing platform effectively contributed to the sharing economy by putting under-utilized vehicles to better use?

Academic Paper from the year 2018 in the subject Business economics - Miscellaneous, grade: 7.8, University of Amsterdam, course: Business Administration, language: English, abstract: This paper will attempt to answer the following question: "How has Turo's peer-to-peer car sharing platform effectively contributed to the sharing economy by putting underutilized vehicles to better use?". The answer to this question will make it clear whetherTuro's platform positively contributes to the sharing economy. A literature review will be used to answer this question, which consists of academic articles on peer-to-peer platforms, car sharing and Turo's activity in multiple markets. This material is reinforced with data, analytics and reviews from the platform.Turo, a peer-to-peer platform, enables its users to rent the exact car that is advertised and costing 35% less than traditional agency prices on average. On the other side, it allows car owners to rent out their under-utilized car on the platform. Founded in 2009 in San Francisco, California - Turo has since become active in more than 4500 cities spread across 3 countries and now employs 110 people. The providers on the platform also cover over 300 airports, providing a solid alternative for regular rental car agencies. Armed with its mission "to put the world's one billion cars to better use", the firm generates revenue with every car rental booked through the platform. Even though Turo has not yet reached profitability, it has raised more than $172m in venture capital and acquired two firms to expand its operations internationally. Turo was also named amongst Uber and WeWork in the Forbes 15 hottest on-demand startups of 2015.