Sidecar as it exists now is shutting down.
The “rideshare” service launched in 2012 and was the trailing competitor to Uber and Lyft, oft-considered in tech circles as the underdog of the trio. Now the company is throwing in the towel, its founders wrote in a blog post Tuesday.
“Today is a turning point for Sidecar as we prepare to end our ride and delivery service so we can work on strategic alternatives and lay the groundwork for the next big thing,” wrote founders Sunil Paul and Jahan Khanna.
“We will cease ride and delivery operations at 2PM Pacific Time, December 31,” they wrote.
Importantly, though the company is shutting down its “rideshare” and delivery services, its founders wrote there may be a future in store for the company itself.
“This is the end of the road for the Sidecar ride and delivery service, but it’s by no means the end of the journey for the company,” Paul and Khanna wrote.”
The pair wrote that Sidecar was an “innovation leader” despite being at a “significant capital disadvantage,” perhaps referring to Uber, which raises venture capital funding in the billions, and is valued at $50 billion.
“Nearly four years ago we invented what is now known as ‘ridesharing’ with an app that connected riders with everyday drivers in their personal vehicle,” the founders wrote, also touting a number of “firsts” like turn-by-turn directions within an app, and other tech innovations.
The pair wrote it is their vision to “reinvent transportation,” but achieving that victory was “bittersweet.”