Ride-hailing firm Gett have announced the closure of its New York rideshare business Juno.
According to Gett, the service is shutting down in New York due to a result of both Gett's increased focus on the corporate transportation sector and the enactment of ‘misguided’ regulations in New York City earlier this year.
Gett also announced a strategic partnership with its once New York rival, Lyft, to enable Gett's corporate clients to access rides in the United States at the beginning of next year.
The closure, which came into force on Monday 18 November, saw the end to a once promising rival to app firms Uber and Lyft.
Juno drivers will be paid in full by Juno for all the rides they had completed by Juno's service end-date and also be invited to join Lyft.
Dave Waiser, Gett CEO, said: "This development reinforces Gett's strategy to build a profitable company focused on the corporate transportation sector, a market worth $1 trillion each year."
Gett currently serves over 15,000 companies, including a third of the Fortune 500. The firm hope that through the Lyft partnership, Gett's corporate customers traveling in the United States will be able to request rides through the Gett app and be matched with a driver on the Lyft network.
Mr Waiser added: "Gett has a differentiated business model. With this announcement, we reinforce our position as the leading corporate transportation service. Instead of competing with consumer ridesharing companies, we are partnering with them. Our strategic partnership with Lyft is a win-win: Gett is expanding its reach across North America at the same time as we continue to see strong momentum in Europe, while Lyft benefits from the large number of Gett enterprise clients traveling to the U.S.
"Uniquely, Gett's SaaS solution aggregates a complete range of ground travel providers in-country and across geographies, on one single booking platform. Whether for ridesharing, chauffeur, limousine or taxi services, we provide enterprise clients with a best-in-class app and advanced back-end technology that consolidates all options across 100 countries, saving costs for clients globally.
"Gett's anticipated profitability is driven by our corporate SaaS solution, and we expect to be operationally profitable at a Group level in December of this year."