Here is the rewritten content with proper headings and titles, without changing its meaning or length:

Turo Withdraws IPO Plans After Three-Year Wait

Turo, an online car-sharing network, has withdrawn its plans for an initial public offering (IPO), ending a three-year wait to bring the company to the public marketplace, according to a regulatory filing.

Background on Turo’s IPO Plans

Turo, founded in 2010, allows private car owners to rent out their vehicles through the startup’s website or app. The company, sometimes described as the "Airbnb for cars," publicly filed in January 2022 for an initial public offering. However, IPO conditions changed soon afterward, and its growth decelerated. Its growth had also slowed down, according to a report by TechCrunch.

Turo’s Current Status

Turo’s decision to end its IPO plans comes just one day after peer-to-peer car-sharing company Getaround shut down its U.S. operations. Like Turo, Getaround began life as a venture-backed company. Unlike Turo, Getaround made the leap back onto the public market in 2022 via a merger with a special purpose acquisition company.

Global Operations

Turo is still operating in the United States and elsewhere. As of September 2024, the company reported having 150,000 active hosts globally, with 350,000 active vehicle listings and 3.5 million active guests. The company also operates in Canada, Australia, and France.

Financial Performance

The company’s peak growth is behind it. Turo reported $722 million in revenue for the nine months ended September 2024, up 8.6% from the same period in 2023. However, these numbers lag behind Turo’s booming nine-month period in 2022, when it generated $879.7 in revenue. The company has also been profitable since 2022 on net income, but profits have not recovered to the heights reported in 2022.

Conclusion

In other words, business cratered in 2023, then recovered in 2024, but not quite to the levels needed for that IPO dream.