TNW Conference 2022 will be bigger, bolder, and better! Get your tickets now >>

The heart of tech

This article was published on December 29, 2015

RIP Sidecar: Ridesharing service announces shutdown

RIP Sidecar: Ridesharing service announces shutdown
Lauren Hockenson
Story by

Lauren Hockenson

Reporter

Lauren is a reporter for The Next Web, based in San Francisco. She covers the key players that make the tech ecosystem what it is right now. Lauren is a reporter for The Next Web, based in San Francisco. She covers the key players that make the tech ecosystem what it is right now. She also has a folder full of dog GIFs and uses them liberally on Twitter at @lhockenson.

It seems that ride-sharing app Sidecar could not withstand competitive environment driven by rivals Lyft and Uber. Its CEO, Sunil Paul, announced today via a post on Medium that it would shut down the company’s ride and delivery service on Thursday.

Today is a turning point for Sidecar as we prepare to end our ride and delivery service so we can work on strategic alternatives and lay the groundwork for the next big thing. We will cease ride and delivery operations at 2PM Pacific Time, December 31.

Founded in 2012, Sidecar took 5 investments totaling $35 million. It’s last fundraising round was in 2014 for $15 million, led by Avalon ventures. The company was a pioneer in ride-sharing and deliveries, but never gained as much user or investor interest as its competitors.

However, Paul did end on a positive note.

“This is the end of the road for the Sidecar ride and delivery service,” he wrote, “but it’s by no means the end of the journey for the company.”

Medium [via Re/code]