Uber-competitor Karhoo has bit the dust
Nov08
Earlier this morning, Uber-rival Karhoo announced that it is shutting down after the company ran out of cash. Karhoo – which was based in New York, but had offices in London, Tel Aviv, and Singapore – has been financially struggling for a while. It raised a $250 million round last year, but this has largely evaporated. It was also forced to shut its R&D center in Israel after the company found itself unable to pay workers wages. In a statement, the company said: It is with much regret that we have to announce that Karhoo has had to close its service and is now…
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