Indrive, an international ride-hailing service, has announced it is shutting down its operations in Uzbekistan, Spot reported.
"We have to say goodbye, but we hope to return one day and continue to grow and develop together, to benefit you and your loved ones," the service said in a message posted in its mobile application. "Thank you for being with us. Take care of yourself and see you soon," it added.
InDrive was founded in 2013 by Arsen Tomsky. Eight years later, it became a unicorn. The service, which allows passengers to set the price of trips, now operates in 39 countries around the world.
The company tried to launch its service in Uzbekistan for the first time in 2016, but it went largely unnoticed on the market. In 2018, InDrive again attempted to enter the local market. There was some success. Its application even appeared briefly in the local app store's top 5.
The third market entry attempt took place from autumn 2021. Nine months later, in June 2022, InDrive launched its courier service in Tashkent, including auto and motorcycle delivery. A little later, the service announced the launch of freight transportation services.
A few months ago, it became known that InDrive had transferred its Russian business to a Kazakh company.
Don’t just follow the news—understand it.
The IntelliNews PRO service includes access to reports, exclusive market data, and more news that decision-makers care about. Stay ahead of the market with IntelliNews PRO.
Sign Up NowRelated Articles
Iran pushes farm-trade pivot to EEU as US blockade squeezes Gulf ports
The Islamic Republic of Iran wants to widen agricultural trade and joint investment with Eurasian Economic Union (EEU) states, a deputy agriculture minister told the bloc's farm-policy council ... more
Eurasian Development Bank receives first-time Ag credit rating from CCXAP
The Eurasian Development Bank (EDB) has received a first-time long-term credit rating of 'Ag' from Hong Kong-based China Chengxin Credit Ratings Company (CCXAP), with a stable ... more
Uzbekistan's Mirziyoyev heads to Minsk as Lukashenko widens his diplomatic circle
Shavkat Mirziyoyev, Uzbekistan's president, began a two-day official visit to Belarus on July 7 at the invitation of Alexander Lukashenko, in the latest sign of Minsk's push to broaden its ... more