In the battle of various mobile payment apps focused on the taxi space, one company tried to reform cabs by focusing on making operations better for cab drivers. That company, UK-based Hailo Network, has now retreated and pulled out of the North American market, citing the “astronomical marketing” costs “required to compete,” reported The Wall Street Journal.
In North America, Hailo had been battling Uber Technologies, Lyft and GetTaxi, among others.
“Hailo has taken a different approach by first trying to win over taxi drivers. Founded in London in 2011 by three former cab drivers, Hailo initially focused on the traditional taxi industry — such as yellow cabs in New York City and black cabs in London. The company tried to provide a digital alternative to street hails. Recently Hailo pivoted, opening up its services to drivers who take calls through a central dispatch. That angered London taxi drivers, who saw the move as a betrayal,” the story said.
Hailo said that it would focus on expanding instead in Europe and Asia, the story said.