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HAILO, THE LONDON-BASED taxi-hailing app startup, is leaving North America, reports Financial Times.
In addition, its co-founder and co-CEO, Jay Bregman, will leave the company. Tom Barr, Hailo’s other CEO, will take the reins.
The company provides a way for users to hail cabs with their phone, so while it has competed in the same market as Uber and Lyft, it’s not as anti-taxi as Uber has been.
In fact, Hailo works with local taxis, which run a meter and allow Hailo to take 10% commission from customers’ fares (12% in Ireland).
However, it seems competition from Uber and Lyft have caused Hailo to bow out of the U.S. and Canada.
“When we moved into North America, we had two entrenched first-mover competitors,” Barr told Financial Times.
They are in a price war. 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.
As of now, Hailo operates in roughly 30 cities globally, and has more than 1.4 million registered customers.
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Summary: Fat cat on huge money says prices should be rising faster so his job would be easier….
Nothing of the people (who pay his salary) and the effect of rising prices on those stretched folk.
It’s a bit more complicated than that. Rising inflation reduces effective debt burden. It also includes wage inflation.
Corrigan is one of the few competent people we have on Team Ireland.
You expect him to ditch his mandate to fund the state as economically as possible and instead do what?
@Jim. Are you saying it is more complicated than a one line summary…??? Really…!
Once Germany is happy that’s all I worry about.
Oh wait the coping classes have not entirely gone under yet!
Let’s throw some petrol on the fire and rack up the interest rates to ensure the wealthy banksters get a better return on their cash.
The inflation rate suits the German economy. One of the few countries in Europe that benefit from the Euro.
We are a experiment ,the paddy is a experiment , are their eyes bulging yet ,keep going and see what happens
Merkel’s representative on earth! Take a bow, sir!
Well we’re hardly going to have healthy inflation (or much inflation of any kind) if there’s flatlining consumer spending.
have your say