Ride app Hailo shutting down in North America

SHARE Ride app Hailo shutting down in North America

Taxi app company Hailo is shutting down operations in Chicago and pulling out of North America.

Chief executive Tom Barr said a price war between rideshare companies Uber and Lyft made markets in the U.S. and Canada unprofitable for the London-based company. Hailo will look to expand in Europe and Asia.

“It’s not that we aren’t growing there, but the profitability of the market and the type of environment [that other taxi-app companies] are setting up – both on the driver and passenger side – ceased to make sense to us,” Barr told The Financial Times, which first reported the shut down.

In addition, Hailo announced co-founder Jay Bregman is leaving the company.

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