Sidecar, the third largest U.S. ride-hailing service, announced it would shut down all operations on Dec. 31, as the company was squeezed out by larger competitors Uber and Lyft.
Co-founders Sunil Paul and Jahan Khanna wrote in a post on Medium.com that they have achieved their vision but are disappointed that they had to close.
“Our vision is to reinvent transportation and we’ve achieved that with ridesharing and deliveries. It is, however, a bittersweet victory. Shutting down the Sidecar service is a disappointment for our team and our fans.”
The startup company, founded in 2012, used the emerging ride-hailing model where passengers can hail a ride through a smartphone app.
The founders said they are ... laying the groundwork for the next big thing.
