Hailo Exits North America Amid ‘Astronomical’ Costs
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Hailo Network Ltd., the taxi application that competes with Uber Technologies Inc., will discontinue its operations in North America and said its co-Chief Executive Officer Jay Bregman will leave the company.
Costs to market the service in North America were “astronomical” and made “profitability for any one player almost impossible,” Tom Barr, CEO and president of London-based Hailo, said in an e-mailed statement yesterday.