Hailo Taxi App Folds in US, Looks to Europe and Asia 16 October 2014

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Hailo taxi app folds in US, looks to Europe and Asia 16 October 2014 drawing protests from cab drivers in cities around the world. Uber, which operates in 45 countries, recently received venture funding at a valuation of $17 billion, making it one of the highest-priced technology startups. In North America, Hailo had been operating in seven cities: New York, Boston, Washington, Atlanta, Chicago, Toronto and Montreal. Hailo operates in Britain, Ireland, Spain, Singapore and Japan. Parked taxis block the Mall leading to Buchingham © 2014 AFP Palace during a protest by London black cab drivers against private taxi service 'Uber', in central London on June 11, 2014 Hailo, the taxi app launched with the help of London cab drivers, is pulling out of North America, citing tough competition from rivals such as Uber and Lyft. Tom Barr, co-chief executive and president, said Hailo would concentrate on markets in Europe and Asia and enhanced products such as payment technology and a "concierge" service. "In the next phase of our growth, we have decided to put all of our energy and resources into these areas," Barr said in a statement to AFP on Wednesday. "We have therefore decided to end our operations in North America, where the astronomical marketing spend required to compete is making profitability for any one player almost impossible." The news comes with apps and ride-sharing services shaking up the traditional taxi landscape, 1 / 2 APA citation: Hailo taxi app folds in US, looks to Europe and Asia (2014, October 16) retrieved 29 September 2021 from https://phys.org/news/2014-10-hailo-taxi-app-europe-asia.html This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. 2 / 2 Powered by TCPDF (www.tcpdf.org).

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