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Cabify to  leave Panama market

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Posted 10/10/2020

The transport technology platform Cabify,  has announced that it will stop operating in the Panamanian market on November 8. Cabify was founded in 2011 in Madrid and arrived in  Panama in 2016. It will continue to operate in 86 other Latin American countries.

 

https://www.newsroompanama.com/business/cabify-to-leave-panama-market

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  • Moderator_02 changed the title to Cabify to leave Panama market
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Cabify Withdraws from Panama and the Dominican Republic

Arguing that the decision is due to the commitment of the search of the profitability, from November 8 the Spanish company of transport by application will stop offering its services in Santo Domingo and Panama City.

Tuesday, October 13, 2020

As a result of a constant process of analysis of the markets in which it operates, the company has made the strategic decision to stop its service in both capitals, the company said in a statement.

You may be interested in "Geomarketing and decision making"

Eldinero.com.do reviews that "... Cabify assured that the 'strategic decision' is due to its strong commitment to the search for profitability and that it is constantly reviewing its operations in all the cities where it is present to ensure optimum financial sustainability."

According to the document issued by Cabify, company executives will be attentive to future needs and opportunities for mobility in the capitals of Panama and the Dominican Republic.

The article reviews that the transportation on demand company, apparently, did not achieve its objectives of competing with Uber, the leading firm in this field in the Dominican Republic.

https://www.centralamericadata.com/en/article/main/Cabify_Withdraws_from_Panama_and_the_Dominican_Republic

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