Taxi App Hailo Hits The Road, Leaves U.S. Due To Expense Of Competing

Apparently taxi-hailing app Hailo was beyond even The Rent Is Too Damn High Guy’s help: After four years as a smartphone app for taxi divers, Hailo says it’s taking its act out of North America because it’s too expensive to compete with services like Uber and Lyft.

The taxi-hailing app says that although it’s operational in more than 30 cities around the world and has carried more than 20 million passengers, it’s time to go.

“We’re particularly excited about the strength of our business in Europe and in Asia, and the set of new services built on our technology,” president and co-CEO Tom Barr said in a statement sent to CNET. “In the next phase of our growth, we have decided to put all of our energy and resources into these areas. 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.”

He adds that while it was a “difficult decision to make,” the company will be focusing more on Europe and Asia now.

Meanwhile, Uber is in more than 200 cities in 45 countries, while Lyft does business in more than 60 U.S. cities, all while trying to beat each other to the lowest fares in cities where they cross.

Hailo jumps ship in US after facing cutthroat competition [CNET]

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