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car sharing startup turo raises additional 12 million – techcrunch - Search

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car-sharing startup turo raises additional $12 million – techcrunch


peer-to-peer car-sharing marketplace turo has officially closed a $104 million series d round. this comes following a $12 million investment from sumitomo corporation and american express ventures, on top of a $92 million raise earlier this year.“as a company that is intensely focused on enabling its customers to have unique travel experiences, american express’ strategic investment positions us well within the travel ecosystem,” turo wrote in a blog post. “sumitomo corporation will help provide guidance as we look to expand to asia, particularly japan. we welcome and expect to learn from their expertise in global marketing and customer service as turo continues to make a huge impact in the automotive and travel industries.”turo has also unveiled a new program called commercial host. the i






turo raises $92m and acquires daimler’s croove car sharing business


turo has a new strategic partner in automaker daimler, with ties solidified through both an investment by daimler in the car sharing startup, and through the acquisition by turo of croove, daimler’s own turo-like subsidiary.the funding is part of a new $92 million series d round raised by turo, which was also led by south korean giant sk holdings, in addition to daimler, and which includes participation from new investors liberty mutual strategic ventures and founders circle capital, as well as from existing partners.this investment includes a lot of new strategic tie-ups for turo, which allows individual vehicle owners and small rental fleet operators to offer their cars up for short-term rentals by others. liberty mutual is clearly a key asset thanks to its insurance industry perspective






help squad: snafu with car-sharing leads to dispute over charges


dear help squad,i am a member of the car-sharing website turo.com, and i have rented out my cars on their site for four years. i recently rented out my 2013 ford fusion. i confirmed the renter's reservation and followed all turo protocols prior to the trip. the renter returned the car late, went significantly over the allotted mileage and did serious damage to the rear bumper and under-carriage. i promptly took pictures and reported everything to turo.here's the kicker: turo claims they will not reimburse me for anything, as i did not verify the renter's id and age — she is younger than 21. according to turo's terms and conditions, people younger than 21 are not allowed to use the turo service.i feel turo is being dishonest and not acting in good faith. the age limit is not clearly visible






how insurance works when you rent out your car on turo


a casual look through car renting service turo yields some pretty sweet and unusual stuff. why rent a nissan sentra at the airport when you can rent some local enthusiast’s porsche instead? it’s easy to get wrapped up in fantasies of having rare and cool cars to drive for a weekend, but how does the reality insurance for everything work out? what happens if it’s your car up for rent, or you’re renting someone else’s vehicle? i spoke with turo to find out.like airbnb, turo is a peer-to-peer car-sharing service that lets people rent their cars out to… read more read morewhen you rent a car from a more traditional service, like the avis counter at the airport, you can opt for the rental company’s insurance at additional cost or use your own car insurance, if you have it and it covers any issu






turo car-sharing marketplace launches in germany


peer-to-peer car-sharing platform turo is expanding to germany officially, starting today, after acquiring last september daimler’s croove in-house product for providing essentially the same service. turo also received a significant strategic investment from daimler at the same time, as it acquired the automaker’s car-sharing experiment, and it now operates peer-to-peer rental services in the u.s., canada and the u.k. in addition to germany.turo claims more than 200,000 vehicles listed on its service across its combined active markets, and more than 5 million total users registered on the platform. it’s also temporarily foregoing its commission on rentals during an introductory promotion period through july 2018 to celebrate bringing the service to germany, something it hopes to help it le






turo, getaround, other vehicle sharing platforms deliver new experiences for own


miguel casillas figured renting out his company’s three-vehicle fleet made perfect business sense.casillas, executive director of the non-profit sv links, shuttles international business tourists around silicon valley in a tesla model s, model x and a mazda suv one week a month.the other three weeks, the expensive cars sit idle. so casillas listed them on turo, a vehicle sharing service. last year, he brought in $19,000 renting the cars out through turo, helping offset the vehicles’ cost.“i felt very nervous the first time i rented (out) a tesla — it’s a very expensive toy,” casillas said, but “it went very well.”the first car-sharing platforms offered a meager selection of cars and were often little more than a way for environmentally conscious consumers to feel good as they fetched groce






only six days left to apply for startup battlefield australia


ready to give your startup the global recognition it deserves? founders, there are 6 more days to apply for the inaugural startup battlefield australia. the deadline for submission is september 11th at midnight aest. when you apply, you’re giving your startup the opportunity to join the ranks of almost 700 early-stage founders who’ve come before you to hone their pitch with techcrunch before sharing it with the world — ready?stop what you’re doing right now, and apply nowor finish that application you started. it takes less time than watching the season finale of game of thrones, and could leave your startup with an additional 25k aud of runway. how?startup battlefield is techcrunch’s renowned startup launch competition. in partnership with elevacao, techcrunch is bringing battlefield to s






join the techcrunch meetup in davos #tcdavos


techcrunch is holding an informal meetup during the world economic forum’s annual meeting in davos, switzerland. grab a free ticket here.the event precedes our techcrunch meetup the week after in zug, switzerland, the so-called crypto valley. you can grab a ticket here.the davos meetup will be co-hosted by samantha stein, techcrunch’s director of special projects & startup battlefield editor, and mike butcher, editor-at-large of techcrunch. investors, angels, startup community leaders, and startup founders can join us to hear about techcrunch’s startup battlefield and about our other activities, followed by informal networking.because of the timing, we’re inviting you to join us at 1pm to first watch the donald trump keynote address to the wef congress, on the big screens, followed by the






techcrunch is back in berlin january 15th


we just could not stay away! in december, techcrunch held disrupt at the berlin arena. we were wowed by the berlin startup scene and just couldn’t get enough. in fact, germany’s own blik became the 2017 runner-up of startup battlefield berlin. well now we are back, and we want to meet more of your startups.techcrunch is holding an informal startup battlefield meet and greet on january 15th with samantha stein, techcrunch’s director of special projects & battlefield editor, and mike butcher, editor-at-large of techcrunch. investors, angels, startup community leaders, and startup founders can join to learn more about techcrunch’s startup battlefield.founders will learn how to apply for battlefield with a killer application, and investors will learn how to refer companies in their portfolio.






brit + co raises $15 million to grow its media and merchandise businesses


brit + co, the media startup founded by brit morin, is announcing an additional $15 million in funding led by verizon ventures (techcrunch’s parent company). former uber president and target cmo jeff jones will also be joining the startup as an advisor.san francisco-based brit + co will be using the funding to expand its digital content business that targets women. they will also be using it to build more branded merchandise for their partnership with target.brit + co is “enabling these women to live more creatively across every category of their lives,” morin told techcrunch. she likened the brand to “the magazine version of pinterest.”she said they plan to add more video tutorials, which cost $20-$50 per online class. “calligraphy, coding, and how to start a business” are part of the bro






brit + co raises $15 million to grow its media and merchandise businesses


brit + co, the media startup founded by brit morin, is announcing an additional $15 million in funding led by verizon ventures (techcrunch’s parent company). former uber president and target cmo jeff jones will also be joining the startup as an advisor.san francisco-based brit + co will be using the funding to expand its digital content business that targets women. they also will be using it to build more branded merchandise for their partnership with target.brit + co is “enabling these women to live more creatively across every category of their lives,” morin told techcrunch. she likened the brand to “the magazine version of pinterest.”she said they plan to add more video tutorials, which cost $20-$50 per online class. “calligraphy, coding, and how to start a business” are part of the bro






help squad: navigating the ins and outs of the sharing economy


last week's column addressed a liability issue that letter-writer thomas had with car-sharing company turo.as a result of renting out his car through the peer-to-peer service, thomas' vehicle was damaged by an unapproved, under-aged driver, who, according to turo, committed fraud in order to reserve the car.though thomas's problem was ultimately resolved, it made me wonder about a few things with regard to the growing sharing economy, namely quality control, the regulatory environment, consumer protections and user motivations.because turo's email explanations were inconsistent and a technical bug was ultimately blamed for an underage driver being allowed to rent thomas's car, i asked "the sharing economy" author and new york university stern school of business professor arun sundararajan






help squad: navigating the ins and outs of the sharing economy


last week's column addressed a liability issue that letter-writer thomas had with car-sharing company turo.as a result of renting out his car through the peer-to-peer service, thomas' vehicle was damaged by an unapproved, under-aged driver, who, according to turo, committed fraud in order to reserve the car.though thomas's problem was ultimately resolved, it made me wonder about a few things with regard to the growing sharing economy, namely quality control, the regulatory environment, consumer protections and user motivations.because turo's email explanations were inconsistent and a technical bug was ultimately blamed for an underage driver being allowed to rent thomas's car, i asked "the sharing economy" author and new york university stern school of business professor arun sundararajan






join the techcrunch meetup at the world economic forum #tcdavos


techcrunch is holding an informal meetup during the world economic forum’s annual meeting in davos, switzerland. grab a free ticket here.the event precedes our techcrunch meetup the week after in zug, switzerland, the so-called crypto valley. you can grab a ticket here.the davos meetup will be co-hosted by samantha stein, techcrunch’s director of special projects & startup battlefield editor, and mike butcher, editor-at-large of techcrunch. investors, angels, startup community leaders, and startup founders can join us to hear about techcrunch’s startup battlefield and about our other activities, followed by informal networking.because of the timing, we’re inviting you to join us at 1pm to first watch the donald trump keynote address to the wef congress, on the big screens, followed by the






nexla launches data operations platform with $3.5 million investment


nexla, a competitor in the techcrunch disrupt battlefield this week in new york city, has more on its plate than simply impressing the judges. it also chose to launch their public beta at the event and, while it was at it, announced $3.5 million in funding led by blumberg capital with participation from storm ventures, engineering capital and correlation ventures.that’s what i call making the most of your disrupt experience.the company is attempting to solve a major problem around processing data from multiple sources and putting it into a form to make it useful for a given customer and how they do business. it’s a challenge the founders faced first-hand at their previous jobs working in the advertising business where they had to deal with tens of thousands of such data sources, ingesting






chinese bike-sharing startup ofo raises $866m in new financing led by alibaba gr


beijing-based bike-sharing startup ofo has raised $866 million in new financing led by alibaba group to fuel its expensive competition with mobike, which is backed by tencent, one of alibaba’s biggest rivals. ofo and mobike are the two largest bike-sharing companies in china.other participants in the round, which consists of equity and debt financing, included ant financial (alibaba group’s financial affiliate), haofeng group, tianhe capital and junli capital. alibaba group also led ofo’s $700 million series e round last year, which was announced one month after mobike disclosed that it had received a $600 million series e led by tencent.both companies have reached valuations of more than a billion dollars and, combined, hold over 90% of china’s bike-sharing market (and are also expanding






techcrunch is back in africa next week! – techcrunch


techcrunch is headed back to africa to find the next wave of early stage startups tackling big ideas! last october, techcrunch held startup battlefield in nairobi, kenya and featured 15 early stage startups from across the continent. we’re impressed by the sub-saharan africa startup scene and can’t wait to meet the next crop of innovators in the coming weeks.you can meet startup battlefield director, samantha stein, and learn more about techcrunch’s startup battlefield program at one of the upcoming meet and greets. investors, angels, startup community leaders, and startup founders can join to learn more about techcrunch’s startup battlefield. rsvp below as space is filling up fast!founders will learn how to apply for battlefield with a killer application, and investors will learn how to r






techcrunch is back in africa next week! – techcrunch


techcrunch is headed back to africa to find the next wave of early stage startups tackling big ideas! last october, techcrunch held startup battlefield in nairobi, kenya and featured 15 early stage startups from across the continent. we’re impressed by the sub-saharan africa startup scene and can’t wait to meet the next crop of innovators in the coming weeks.you can meet startup battlefield director, samantha stein, and learn more about techcrunch’s startup battlefield program at one of the upcoming meet and greets. investors, angels, startup community leaders, and startup founders can join to learn more about techcrunch’s startup battlefield. rsvp below as space is filling up fast!founders will learn how to apply for battlefield with a killer application, and investors will learn how to r






chinese bike-sharing startup ofo raises $866m in new financing led by alibaba gr


beijing-based bike-sharing startup ofo has raised $866 million in new financing led by alibaba group to fuel its expensive competition with mobike, which is backed by tencent, one of alibaba’s biggest rivals. ofo and mobike are the two largest bike-sharing companies in china.ofo claims that this is the largest amount raised in a round by a bike-sharing company so far. other participants in the round, which consists of equity and debt financing, included ant financial (alibaba group’s financial affiliate), haofeng group, tianhe capital and junli capital. alibaba group also led ofo’s $700 million series e round last year, which was announced one month after mobike disclosed that it had received a $600 million series e led by tencent.in a press statement, ofo founder and chief executive offic






havenly raises $12.5 million for decorating your home


when it comes to interior decorating, some people could use a little professional advice. but it’s not cheap, with the average designer charging over $5,000.havenly, a denver-based startup, thinks it can change that. its platform pairs consumers with stylists offering virtual guidance.after gaining early traction since it launched in 2014, the startup is raising a $12.5 million series b led by foundry group, with participation from industry ventures, chicago ventures and kickstart fund. the startup raised over $13 million previously.havenly works with over 400 vendors and has “everything all in one place at the best price possible,” co-founder and ceo lee mayer told techcrunch. wayfair, west elm and target are amongst the many brands showcasing items on havenly.users fill out a style profi






traveltriangle raises $12m to digitize india’s travel bookings – techcrunch


traveltriangle, a startup that is digitizing travel agencies and travel bookings in india, has raised a $12 million series c round led by fundamentum.the startup operates like a travel booking platform to allow holidaymakers to choose and secure their travel plans online. it also works with offline travel agents to help them offer services, such as tailoring a trip, to customers as they do when they walk into their offices in person. the company also offers a suite of back-office services designed for agencies to help bring them on to its platform and generate additional revenue.the deal marks the first investment from fundamentum, a new $100 million fund established by nandan nilekani, a co-founder and the former ceo of $33 billion it services giant infosys, and helion ventures partner sa






spin raises $8 million as bike-sharing battle heats up in the us


bike sharing has taken a turn in the u.s., following trends in china. the new mode is “dockless,” where companies distribute bikes around a city or campus to be rented per trip instead of dispensing them from one station. the bikes are tracked via gps, and can be located by users, paid for and unlocked using their smartphones. best of all, when riders are done with one of these bikes, they can park them anywhere that’s convenient (and legal).as techcrunch has previously reported, venture investors are pouring money into startups trying to make dockless bike sharing a success domestically. these businesses are facing fragmented regulations and competition from better-funded chinese players coming to north america, as well as incumbents like motivate co., the kiosk-based bike-sharing company






limebike raises $70 million as the bike-sharing battle rages on


bike-sharing turned multi-modal transportation company limebike has raised an additional $70 million from its previously announced $50 million series b round. this brings limebike’s total funding to $132 million.the funding comes shortly after limebike announced its entrance into the e-scooter and pedal assist, e-bike games.“we’re interested in bike-sharing because it’s something real estate owners really want,” fifth wall co-founder and managing partner brendan wallace told techcrunch about the firm’s decision to invest in limebike.there are a number of competitors in the bike-share space, including spin, jump, ofo, motivate and, most recently, uber via a partnership with jump. as you can see below, many of limebike’s competitors have a significant amount of capital.before making the inve






instacart raises another $150 million – techcrunch


instacart, the grocery delivery startup that has a partnership of sorts with whole foods, is raising $150 million in funding, axios first reported. this is on top of instacart’s $200 million raise at a $4.2 billion valuation in february.instacart has since confirmed the raise, bringing its total series e round up to $350 million with a valuation of $4.35 billion.the additional funding comes shortly after amazon, owner of whole foods, announced free two-hour delivery of natural and organic products from whole foods via prime now.“the online grocery market hit a tipping point last year, as more and more consumers demanded grocery delivery. we are excited to accelerate our plans to bring online grocery everywhere and to keep transforming the way people shop,” instacart coo/cfo ravi gupta said






spin raises $8 million as bike-sharing battle heats up in the us


bike sharing has taken a turn in the u.s., following trends in china. the new mode is “dockless,” where companies distribute bikes around a city or campus to be rented per trip instead of dispensing them from one station. the bikes are tracked via gps, and can be located by users, paid for and unlocked using their smartphones. best of all, whenever riders are done with one of these bikes, they can park them anywhere that’s convenient (and legal).as techcrunch has previously reported, venture investors are pouring money into startups trying to make dockless bike sharing a success domestically. these businesses are facing fragmented regulations, and competition from better-funded chinese players coming to north america, as well as incumbents like motivate co. the kiosk-based bike sharing com






grab your exhibit table in startup alley at tc tel aviv – techcrunch


hey startups! techcrunch is returning to tel aviv on 7 june, 2018 for its inaugural day-long conference at the tel aviv convention center. this year’s event will be bigger and better than ever — featuring not only techcrunch’s signature stellar programming focused on mobility, but also a new expo area called startup alley, where hundreds of rock-star startups will demo their products to attendees. techcrunch events are the ideal place to show off your company to prospective customers, gain media attention, meet investors and take your startup to the next level. if you’re a pre-series a early-age startup, we want to see you on our showcase floor. all verticals are welcome!for 1700 ils, you’ll get one full day to exhibit, two tickets to techcrunch tel aviv 2018, a demo table, wi-fi, power, l






snapchat bought the ar location intellectual property of startup drop


snap map is snapchat’s plan to tie together its online content with ways to augment your offline reality, and it’s got the patent to back it up. augmented reality location startup drop tells techcrunch that snap inc. acquired its intellectual property in 2015, including its “location-based messaging” patent.in 2013, drop developed an app that would let you post photos or text to a certain location, like a landmark or business, and your followers would get an alert to check it out when they came nearby. by utilizing drop’s intellectual property, snapchat could launch a similar feature allowing users to discover location-based messages with the snap map or snapchat’s ar lenses. snap declined to comment on this story, as it usually does regarding m&a news.drop let you leave geofenced messages






snapchat bought the ar location intellectual property of startup drop


snap map is snapchat’s plan to tie together its online content with ways to augment your offline reality, and its got the patent to back it up. augmented reality location startup drop tells techcrunch that snap inc acquired its intellectual property in 2015 including its “location-based messaging” patent.in 2013, drop developed an app that would let you post photos or text to a certain location like a landmark or business, and your followers would get an alert to check it out when they came nearby. by utilizing drop’s intellectual property, snapchat could launch a similar feature allowing users to discover location-based messages with the snap map or snapchat’s ar lenses. snap declined to comment on this story, as usually does regarding m&a news.drop let you leave geofenced messages for fr






factgem wants to help businesses get more value out of their data


factgem, which is launching in our disrupt new york battlefield competition today, was born out of megan kvamme‘s frustration with trying to juggle hundreds of excel spreadsheets — and the data in them — while she was working as an investment banker. when she tried to find a software product that would allow her to more easily analyze all of this data, she couldn’t find what she was looking for, so she started working on what would later become factgem back in 2011.“people said ‘no,’ that’s a hard problem. you can’t do that,” kvamme recalled, and later added that what she wanted to build was essentially a bloomberg terminal for data. shortly after she started exploring the space, she met clark richey, now factgem’s cto, who has an extensive background in working with databases at marklogic






techcrunch’s startup battlefield australia joined by leading aussie names


as you’ve probably gathered techcrunch is headed to australia to find the most disruptive early-stage startups, in partnership with elevacao. as we like to say these days, ‘all roads lead to disrupt’ and our focus now is to reach out internationally to find the best startups for our disrupt stages, from all around the world.techcrunch’s startup battlefield australia is our first ever, and it’s particularly sweet for me to be able to leave london and come ‘down under’. it’s a little-known fact that i have dual nationality, being both born in the uk but also holding an australian passport. but more of that in a moment.australia is increasingly known as a tech startup hub in the last few years, witnessing myob’s $833m ipo (australia’s largest-ever tech ipo), atlassian’s us-based ipo at $1.1 b






deep science ai monitors security feeds for masks and guns to quicken response t


you’re working late at the 7-eleven when a masked man comes through the door with a gun. you raise your hands, follow his instructions, empty the cash register and throw some burners in the bag. as he runs out the door, you note his height, collect yourself and call 9-1-1. unless you don’t need to because the mask immediately tipped off your store’s ai, and the police are already on their way with a description. that’s what startup battlefield company deep science ai hopes to enable.there are security cameras everywhere, founders sean huver and sam tkach thought, and deep learning models are getting really good at spotting individual objects in footage — for example, masks and guns. so why not put the two together?“people find it surprising how prevalent this problem is in high-crime areas






techcrunch’s startup battlefield australia joined by leading aussie names


as you’ve probably gathered techcrunch is headed to australia to find the most disruptive early-stage startups, in partnership with elevacao. as we like to say these days, ‘all roads lead to disrupt’ and our focus now is to reach out internationally to find the best startups for our disrupt stages, from all around the world.techcrunch’s startup battlefield australia is our first ever, and it’s particularly sweet for me to be able to leave london and come ‘down under’. it’s a little-known fact that i have dual nationality, being both born in the uk but also holding an australian passport. but more of that in a moment.australia is increasingly known as a tech startup hub, witnessing atlassian’s $1.1 billion ipo, a $250 million equity growth round for australia’s campaign monitor and a $150 m






apply to techcrunch’s startup programs for disrupt and startup battlefield with


at techcrunch’s flagship disrupt events, there are three ways for startups to get in the limelight. one is to win a spot in the prestigious startup battlefield competition. another is to be selected as one of the editor-selected tc top picks to exhibit in one of the featured tracks in startup alley. both of those opportunities are 100 percent free. the last is to apply for a highly affordable single-day exhibitor pass for startup alley itself. easy, right? you might think so, but the truth is until now, the application process was fragmented and founders had to make parallel applications for different programs. but no more! today, we launched our single, reusable application for all of techcrunch’s startup programs. founders can now fill out a single application here and apply to all of ou






uber acquires bike-share startup jump – techcrunch


uber has acquired bike-sharing startup jump for an undisclosed amount of money. this comes shortly after techcrunch reported that jump was in talks with uber as well as with investors regarding a potential fundraising round involving sequoia capital’s mike moritz. at the time, jump was contemplating a sale that exceeded $100 million. we’re now hearing that the final price was closer to $200 million, according to one source close to the situation.jump’s decision to sell to uber came down to the ability to realize the bike-share company’s vision at a large scale, and quickly, jump ceo ryan rzepecki told techcrunch over the phone. he also said uber ceo dara khosrowshahi’s leadership impacted his decision.“i had a chance to spend a couple of evenings with him, and really talk through his visio






announcing startup battlefield europe at vivatech this may


techcrunch startup battlefield is headed to vivatech in paris on may 24th to find and feature the best early-stage startup across europe! in partnership with vivatech, startupbattlefield europe will feature startups from across continental europe working on the cutting-edge technologies blooming this spring. vivatech is the perfect spot to host our startup battlefield europe competition as founders, business leaders, investors, academics, students, and media from europe and around the world will descend on paris to preview the future.techcrunch will host startup battlefield europe at vivatech on may 24-25 in front of a live audience and top judges, and we will live stream the show on techcrunch, so the rest of the world can tune in. the overall winner of startup battlefield europe will als






announcing startup battlefield europe at vivatech this may


techcrunch startup battlefield is headed to vivatech in paris on may 24th to find and feature the best early-stage startup across europe! in partnership with vivatech, startupbattlefield europe will feature startups from across continental europe working on the cutting-edge technologies blooming this spring. vivatech is the perfect spot to host our startup battlefield europe competition as founders, business leaders, investors, academics, students, and media from europe and around the world will descend on paris to preview the future.techcrunch will host startup battlefield europe at vivatech on may 24-25 in front of a live audience and top judges, and we will live stream the show on techcrunch, so the rest of the world can tune in. the overall winner of startup battlefield europe will als






president trump: delta, protesters, schumer caused airport chaos


president donald trump sought early monday to blame the weekend chaos and confusion at airports on the “delta computer outage, protesters and the tears of senator schumer.”trump sent a series of tweets about travelers held for questioning at kennedy airport and elsewhere in the country following an executive action he signed friday afternoon to indefinitely bar syrian refugees, temporarily ban the entry of all other refugees, and temporarily block the citizens of seven predominantly muslim countries.most popular nation storiesopponents have said the restrictions amount to a religious test, especially because christian travelers from the seven countries are prioritized.storyli student held in immigration ban releasedstorytrump stands by travel ban as more protests growstorytravel ban strand