Kyte Hits Reverse: Downsizing and Strategic Shifts in Surging Car Rental Market
In a bold move to weather financial turbulence, Kyte, the lauded rental car startup known for its on-demand delivery model, is scaling back its operations significantly. The company has laid off a large chunk of its workforce and will now focus solely on the San Francisco and Los Angeles markets, signaling a retreat from earlier expansions. As part of its restructuring efforts, Kyte may explore strategic alternatives, including a potential sale or merger.
Dec 23