Hailo, the taxi hailing app has announced that it is pulling out of North America because it says the price war between local ride-sharing startups Uber and Lyft is making it “impossible” to be profitable there.
The Financial Times reports that co-founder and co-CEO Jay Bergman is leaving the company, leaving the other CEO, Tom Barr in charge.
Hailo is very popular in Ireland and the UK, both with customers and with drivers, and in other countries in Europe. They recently launched a service for businesses to manage a single Hailo account for their employees.
The company says it will focus on growing its business in Europe and Asia.
Update: Fortune reports that Hailo failed to gain traction with New York cab drivers, and its strategy of focusing on the lower end of the market failed when UberX was introduced.