Nura Jabagi, PhD candidate in Business Technology Management at Concordia, published another opinion piece in The Globe and Mail's Report on Business.
Last week, Téo Taxi, Montreal’s all-electric, app-based taxi service, made headlines with a failed cash call to its two primary investors and Taxelco, its parent company, placing itself under protection of the Bankruptcy Act.
After a week of rumors concerning the company’s struggling state, an announcement that Téo would be ceasing all operations dashed all hopes for the socially-conscious start-up's future.
Having received $30 million in investments from the former Liberal government, as well as several rounds of funding from seasoned investment firms such as Claridge Investment Ltd., many are questioning why the brainchild of serial entrepreneur and tech visionary Alexandre Taillefer failed.
In her timely op-ed, Jabagi discusses the challenges Téo Taxi faced as the underdog in a platform-based transportation market.