Phoenix-based Fare announced Tuesday that it’s leaving Austin due to a “recent loss of business.”
The ride-hailing company was one of several that set up in Austin last year after voters approved regulations for fingerprint-based background checks, prompting competitors Uber and Lyft to leave.
Last week, the two ride-hailing giants returned to the city after Gov. Greg Abbott signed House Bill 100, which establishes statewide ride-hailing legislation that nullifies all city ordinances.
The statewide regulations require only name-based background checks, which is what Uber and Lyft pushed for last year in Austin's most expensive municipal election ever.
In a statement on its app, Fare thanked users, but said sadly "the time has come to say goodbye."
The first of the small ride-hailing companies to close up shop following the return of @uber and @lyft to Austin: pic.twitter.com/mAVRRBEb8x
— Audrey McGlinchy (@AKMcGlinchy) June 6, 2017
