Business

Ride-hail app Fasten shutting down operations in Austin

AUSTIN (KXAN) -- Ride-hailing app Fasten announced Friday that with "heavy hearts" they are shutting down all operations in Austin and Boston after three years in business.

In a blog post by the Fasten co-founders, Kirill Evdakov, Vlad Christoff, and Roman Levitskiy, they announced Fasten has been acquired by Vezet Group, described in the post as one of the top 10 ride-hailing companies in the world. The app will shut down as of 12 a.m. on Monday, March 5.

"While they will be using our brand and our technology to grow their business in other parts of the world, they will be freezing our operations in the U.S.," the post said.

The co-founders said, for them, it has always been about more than getting people from point A to point B, saying, "We wanted to help drivers earn more of the fare, and we wanted to give you a better choice."

With more than 5 million rides completed, the company is asking riders to make a conscious choice the next time they use a ride-hailing app. "We know why you chose Fasten, and our hope is that you'll continue to think about the drivers who are doing this to make ends meet and of how rideshare companies treat their people."

In an interview last month, Evdakov told KXAN their company had not seen a big change in demand since Uber and Lyft returned to Austin, saying the company had just opened a new office and driver lounge in east Austin.

A few weeks ago, RideAustin told KXAN business has flattened out since Uber and Lyft's return to the market, but they're not worried about getting pushed out. Fare discontinued its service last summer after a massive drop in customer usage.



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