Hailo Network Ltd. Have made the decision to pull out of North America citing intense competition from companies such as Uber Technologies Inc. Lyft Inc and Get Taxis Inc.
Uber have made significant gains in the worldwide app hailing technology market and have met significant resistance from Taxi Drivers and regulators.
In London Black Taxi drivers held several protests, they felt TFL were not regulating Uber correctly, as well as several other Licencing issues in London.
App Hailing technology has seen £1 billion in venture Capital invested intp this sector.
Hailo initially took a different approach working with traditional Taxi drivers in both London and New York but they recently opened up their services to Private Hire and this angered many of the London Black Taxi drivers, many of whom moved to Get Taxi.
Chief Executive Tom Barr said that they would concentrate on the expansion in Europe and Asia rather than compete with the astronomical marketing costs required to compete in North America.