"It’s not that we aren’t growing there," said chief executive Tom Barr of North America, in an interview with theFinancial Times. "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."
Around 20 employees will be out of a job when Hailo shuts down service in Boston, Chicago, Montreal, Toronto, and Washington DC.
Hailo says it's got 1.4 million registered passengers, but at least in the US, the Uber / Lyft battle is keeping sustainable profits and growth out of reach.
Barr is now Hailo's only boss; Jay Bregman, a co-founder and (until now) co-CEO, is leaving the company with today's news.