Uber Technologies Inc., the San Francisco, CA-based ride-hailing pioneer and one of the closely monitored tech tycoons in the Silicon Valley, would cease to exist in Columbia at end-January. In point of fact, Uber’s latest decision to exit a lucrative Columbian market came forth a judge had ruled its operations in the country had been violating competition rules.
Following the judge’s verdict, the Andean country had ordered the ride-sharing pioneer to cease its operations on Friday (January 10th). However, later last year, a Columbian district court had ruled that the ride-hailing companies’ app had not obtained approval from any anti-trust authority and regulatory commission before launching operations, and ordered the company to exit the Andean country.
Nonetheless, calling the verdict “Arbitrary” and “a violation of its rights” due to a lack of regulation for the ride-sharing apps in the South American nation, Uber was quoted saying late on Friday (January 10th) that it would capitalize on all kinds of legal powerhouses to defend the rights of its nearly 88,000 drivers and two million users in the country.
Meanwhile, as the ride-sharing pioneer was preparing to exit the country, expressing sheer disgrace over Columbian regulatory process, Uber said in a statement late on Friday (January 10th), “Uber was the first company to offer the country an innovative and trustworthy mobility alternative.
Today, six years later, Colombia is the first country on the continent to close its doors to the technology. ”