We didn’t even know that there was a car-ride and car-sharing service called Sidecar that was being built on the lines of Uber, and now it’s shutting down, according to this TechCrunch update. The CEO of SideCar, Sunil Paul, declared the impending closure of the company in a Medium blog post:
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. We will cease ride and delivery operations at 2PM Pacific Time, December 31.
Ever since Uber has hit it big naturally there have been many “startups” trying to ride the tide of this quickly evolving, and even popular trend. With increasing traffic congestion and chaos plaguing every major city, car-sharing is becoming popular but it isn’t just popularity that makes a startup successful. It is essential that startups have a good business model and, more importantly, a good financial model in place. You can find more information about startup financial models at https://earlygrowthfinancialservices.com/the-1-reason-you-need-a-startup-financial-model-and-7-others-good-reasons/ should you need it. But at the end of the day, everything eventually boils down to execution, implementation and customer care. This is where most companies fail, while trying to emulate success of a particular startup.
The SideCar service isn’t completely shutting down. When car-sharing didn’t work out they tried their hand at running delivery operations now that they had a transportation infrastructure in place. Even that didn’t work. Now the team will be focusing on other venues. Best of luck to the team.