Uber rival Karhoo shuts down after raising $250 million
Ride-hailing startup Uber's rival Karhoo, which was active in London and New York, on Tuesday announced its shutdown after raising $250 million in October last year. The company was reportedly looking to raise $1 billion in total funding but failed to raise more money. "The financial situation was pretty dire...We're looking at the next steps for the business", Karhoo said.