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.
Freedom Holding Corp (Nasdaq: FRHC) slightly more than doubled its net income to $153.3mn in its fiscal year to March 31 from from $76.2mn in the previous fiscal 12 months, the international ... more
The Eurasian Development Bank (EDB) said on March 26 it had fully redeemed a five-year Eurobond, meeting all obligations to investors at maturity. The bank paid a total of €286mn, covering both ... more
London-listed TBC Bank Group PLC (LON: TBCG) is weighing up conducting a separate initial public offering (IPO) for its TBC Uzbekistan digital bank business. Reuters on February 24 ... more