Out of Aces.
Today, our incredible journey unexpectedly ends. After three years and millions of passenger miles as the largest operation of our kind in the country, Bridj is winding down. Since you’ve been such an integral part of this journey, it’s important for us to give you a bit of background.
We made the strategic choice to pursue a deal with a major car company who promised a close date for a sizable transaction in lieu of a traditional venture capital funding round. The close date timeline extended from weeks to months, as they sought to gain the appropriate internal approvals that we (and they) thought were already in place. Throughout, we remained convinced of the close strategic fit and both sides had every expectation that the transaction would close. Despite assurances, and all parties acting in the best of faith, that didn’t happen.
With this in mind, we have made the difficult decision to begin winding down. This is sad and frustrating for all of us, but I firmly believe that letting pride and hope continue to push us forward in this situation would create an unacceptable level of risk for employees, investors, and customers.
And with that, we say goodbye. We say goodbye to you, our fifty exceptional team members, our customers, and our partners all over the world. We also say goodbye to the promise of what could have been.
Although we are saddened that our hard work at Bridj has come to an end, we remain grateful for and inspired by the support we received from investors, customers, and our government partners. Through organizations that support the most vulnerable in our cities, and technologies that make cities more accessible, we have repeatedly seen how small innovations can ultimately affect billions of lives. While we have been one small part of starting the conversation around mobility in the modern city, we hope that you will continue to support innovators and leaders who will pick up where we left off, delivering on the promise of what cities can and should be.
It has been a tremendous honor to lead our incredible team at Bridj, and I am endlessly grateful to all of you for supporting us on this incredible journey.