- Briefing Your roundup of Asian tech and startup news that matter
Collin Furtado · · 1 min readSingapore startup MobilityX and its Zipster app shutter after less than 2 years
“Less than two years after a splashy launch in September 2019 and amid ambitious plans to expand overseas, the plug has been pulled on Zipster and its SMRT-backed developer MobilityX,” reported The Straits Times.
Details:
- The Zipster app hasn’t been functioning since at least June this year and has been removed from Apple’s App Store and the Google Play store.
- Axel Tan, general manager of SMRT Ventures, said that MobilityX’s shareholders have stopped funding the startup after reviewing its prospects and progress. He added that the decision to close takes into account the “tough business and regulatory environment.”
Context:
- Tan said that users of the Zipster app have been notified of the discontinuation of its services. Its intellectual property will be retained and evaluated for future projects.
- The app had offered booking and payment services for multiple transport options such as the Mass Rapid Transit (MRT) rail system in Singapore, buses, privately hired vehicles, shared bicycles, and car-sharing services.
Editing by September Grace Mahino
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
