French car manufacturer Renault to buy failed ridesharing startup
Jan12
A few months ago, we reported on the collapse of Karhoo – a fledgling ride sharing startup that served the New York and London area. The company failed after it ran out of cash. By some estimates, it burned through an impressive $250 million funding round (although some sources say the real figure was lower) in 18 months, leaving in its wake a mountain of unpaid salaries and bills. In the startup world, it’s rare that you get a second chance. But here we are with French car manufacturer Renault buying Karhoo for a minuscule $1 million. The details of this…
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