Bridj, the Boston-based on-demand bus service, is closing up shop after failing to close a “major deal” with an unnamed car company, the founder explained in a Medium post yesterday.
“After three years and millions of passenger miles as the largest operation of our kind in the country, Bridj is winding down,” wrote Matt George, the CEO of the pop-up transit service. He went on to describe the details of how his company collapsed:
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)...
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