Largest Cab Company in San Francisco to File for Bankruptcy

According to the San Francisco Examiner, the city’s largest cab company is set to file for bankruptcy, thanks in part to Uber and Lyft. In a letter to shareholders dated December 10, 2015 and obtained by the Examiner, the president of Yellow Cab Co-Op explained that the company is “in a midst of serious financial setbacks,” and that the members of the board “are preparing all the required documents to file for Chapter 11 Bankruptcy, and expect that this process will move forward within a month.” The financial move appears to be coupled with a PR campaign designed to win customers back from rivals—presumably, ride-sharing firms like Lyft and Uber.

This video was produced by YT Wochit Business using