Rental car startup Kyte slashes staff and shrinks to two markets in bid for survival
Rental car startup Kyte, which bills itself as the "best alternative to Hertz," is pulling out of almost all of its major markets in the United States
Rental car startup Kyte, which bills itself as the “best alternative to Hertz,” is pulling out of almost all of its major markets in the United States and has cut its workforce roughly in half in a bid to survive after exploring a sale earlier this year.
The company is shrinking its operations to focus only on San Francisco and New York City (including Jersey City) as it works to reach profitability in the next 18 months, CEO Nikolaus Volk told TechCrunch. Kyte has been exiting other major markets like Atlanta, Chicago, Boston, Washington, D.C., Philadelphia, and Seattle. It started telling customers in Los Angeles that it is suspending operations in that city after November 7, as Curbivore reported Thursday.
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