Hailo to pull out of North America as the taxi wars heat up

Hailo to pull out of North America as the taxi wars heat up

Hailo will stop offering taxi services in North America following a rethink of company strategy amid fierce competition from rivals like Uber.

Revealed today in an interview with the Financial Times, company CEO Tom Barr said the plans to close in the US and Canada were because it was impossible to make a profit there. Instead, it plans to put more focus on Europe and Asia. Barr added that the service was actually seeing growth, but that the price war between services like Uber and Lyft had removed the viability of continuing with its operations in North America.

All Killer, No Filler

We’re bringing Momentum to New York: our newest event, showcasing only the best speakers and startups.

Staff in Washington, Chicago, Boston, Toronto and Montreal – around 20 people – are “likely” to lose their job, according to the FT.

Despite the rethink, Hailo is still operational in a number of UK and European cities and landed an additional $30.6 million investment earlier this year

➀ Taxi app company Hailo to pull out of North America [The Financial Times]

Read next: Smart calendar app Magneto launches a group mode for cross-company scheduling

Shh. Here's some distraction