Phoenix-based Fare announced Tuesday that it鈥檚 leaving Austin due to a 鈥渞ecent loss of business.鈥�
The ride-hailing company was one of several that set up in Austin last year after voters approved regulations for fingerprint-based background checks, prompting competitors Uber and Lyft to leave.
Last week, the two to the city after Gov. Greg Abbott signed , which establishes that nullifies all city ordinances.
The statewide regulations require only name-based background checks, which is what Uber and Lyft pushed for last year in Austin's most expensive municipal election ever.
In a statement on its app, Fare thanked users, but said sadly "the time has come to say goodbye."
The first of the small ride-hailing companies to close up shop following the return of and to Austin:
— Audrey McGlinchy (@AKMcGlinchy)
