Dec 30, 2015 4:48 PM by News Staff
NEW YORK (AP) - Delivery and ride-hailing pioneer Sidecar, which struggled to compete with bigger rivals Uber and Lyft, says it will stop offering services.
In a message posted to Medium, co-founders Sunil Paul and Jahan Khanna said Sidecar's rides and deliveries will end at 5 p.m. Eastern time on Thursday.
The three-year-old San Francisco company's investors included Google Ventures and Richard Branson.
While Uber Technologies says it's operating 68 countries and Lyft gives rides in 190 cities, Sidecar did business in just eight markets across the U.S. Paul and Khanna said Sidecar faced a "capital disadvantage."
Uber and Lyft have raised billions of dollars in funding, and along the way they have taken the lead in the ride-hailing market. Chinese taxi-hailing company Didi Kuaidi recently announced a partnership with Lyft.
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