{"id":35812,"date":"2025-01-31T10:00:15","date_gmt":"2025-01-31T07:00:15","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=35812"},"modified":"2025-01-31T09:45:02","modified_gmt":"2025-01-31T06:45:02","slug":"solana-based-ride-sharing-app-teleport-closes","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/solana-based-ride-sharing-app-teleport-closes\/","title":{"rendered":"Solana-based ride-sharing app Teleport Closes"},"content":{"rendered":"<p>Teleport, the ridesharing app built on the Solana blockchain, has ceased operations, citing a lack of demand in the market. Teleport, which aims to rival Uber and Lyft, announced its decision to close, stating that there was not enough interest in the decentralized ridesharing model.<\/p>\n<p><strong>&#8220;This was not the outcome we had hoped for. We regret that we were not able to make our business model successful.&#8221;<\/strong> &#8220;The <strong> market is not yet ready for a decentralized protocol,<\/strong> &#8221; said &#8220;Chase&#8221;, one of Teleport&#8217;s engineers, adding that the decision was difficult but necessary.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/solana-based-ride-sharing-app-teleport-closes\/#Why_Did_It_Fail\" title=\"Why Did It Fail?\">Why Did It Fail?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/solana-based-ride-sharing-app-teleport-closes\/#Can_a_Decentralized_Transportation_Model_Succeed\" title=\"Can a Decentralized Transportation Model Succeed?\">Can a Decentralized Transportation Model Succeed?<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"Why_Did_It_Fail\"><\/span><strong>Why Did It Fail?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Teleport began development in October 2022 with $9 million in funding and was officially launched in June 2023. The app offered a lower commission rate compared to Uber:<\/p>\n<ul>\n<li><strong>Uber:<\/strong> 25% &#8211; 30% commission<\/li>\n<li><strong>Teleport:<\/strong> 15% commission<\/li>\n<\/ul>\n<p><strong><em>\u00a0<\/em><\/strong><\/p>\n<p>In addition, drivers could receive their earnings in fiat via USDC or Apple Pay. Although the company claims to offer cheaper rides than Uber, only 1,321 rides were completed despite 13,834 users. The most used cities included New York City and Austin, Texas.<\/p>\n<p>Although 178 drivers were active on the platform in November 2023, user comments often complained about the lack of drivers.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Can_a_Decentralized_Transportation_Model_Succeed\"><\/span><strong>Can a Decentralized Transportation Model Succeed?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Teleport&#8217;s failure shows that the idea of decentralized ridesharing has yet to be embraced by the market. In 2016, a startup called Arcade City also tried to rival Uber, but failed to provide a single ride in its first two weeks.<\/p>\n<p>Teleport announced that it will allow users to withdraw their USDC balances and private keys during the closing process until February 28. The company stated that it will share a more detailed analysis of the reasons for the failure in the future.<\/p>\n<p><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"nofollow noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a> and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Teleport, the ridesharing app built on the Solana blockchain, has ceased operations, citing a lack of demand in the market. Teleport, which aims to rival Uber and Lyft, announced its decision to close, stating that there was not enough interest in the decentralized ridesharing model. &#8220;This was not the outcome we had hoped for. We<\/p>\n","protected":false},"author":6,"featured_media":35813,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[295,319,11362,11363],"class_list":["post-35812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-dapp","tag-solana","tag-teleport","tag-uber"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Solana-based ride-sharing app Teleport Closes - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/solana-based-ride-sharing-app-teleport-closes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Solana-based ride-sharing app Teleport Closes - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Teleport, the ridesharing app built on the Solana blockchain, has ceased operations, citing a lack of demand in the market. Teleport, which aims to rival Uber and Lyft, announced its decision to close, stating that there was not enough interest in the decentralized ridesharing model. &#8220;This was not the outcome we had hoped for. We\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/solana-based-ride-sharing-app-teleport-closes\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2025-01-31T07:00:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-01-31T06:45:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/01\/grayscale_ce-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/solana-based-ride-sharing-app-teleport-closes\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/solana-based-ride-sharing-app-teleport-closes\/\",\"name\":\"Solana-based ride-sharing app Teleport Closes - Coin Engineer\",\"isPartOf\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/solana-based-ride-sharing-app-teleport-closes\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/solana-based-ride-sharing-app-teleport-closes\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/01\/grayscale_ce-1.png\",\"datePublished\":\"2025-01-31T07:00:15+00:00\",\"dateModified\":\"2025-01-31T06:45:02+00:00\",\"author\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\"},\"breadcrumb\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/solana-based-ride-sharing-app-teleport-closes\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/coinengineer.net\/blog\/solana-based-ride-sharing-app-teleport-closes\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/solana-based-ride-sharing-app-teleport-closes\/#primaryimage\",\"url\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/01\/grayscale_ce-1.png\",\"contentUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/01\/grayscale_ce-1.png\",\"width\":1920,\"height\":1080,\"caption\":\"Teleport\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/coinengineer.net\/blog\/solana-based-ride-sharing-app-teleport-closes\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/coinengineer.net\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Solana-based ride-sharing app Teleport Closes\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\",\"url\":\"https:\/\/coinengineer.net\/blog\/\",\"name\":\"Coin Engineer\",\"description\":\"Btc, Coins, Pre-Sale, DeFi, NFT\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/coinengineer.net\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\",\"name\":\"Tanju Akb\u0131y\u0131k\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g\",\"caption\":\"Tanju Akb\u0131y\u0131k\"},\"url\":\"https:\/\/coinengineer.net\/blog\/author\/cetanju\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Solana-based ride-sharing app Teleport Closes - Coin Engineer","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/coinengineer.net\/blog\/solana-based-ride-sharing-app-teleport-closes\/","og_locale":"en_US","og_type":"article","og_title":"Solana-based ride-sharing app Teleport Closes - Coin Engineer","og_description":"Teleport, the ridesharing app built on the Solana blockchain, has ceased operations, citing a lack of demand in the market. Teleport, which aims to rival Uber and Lyft, announced its decision to close, stating that there was not enough interest in the decentralized ridesharing model. &#8220;This was not the outcome we had hoped for. We","og_url":"https:\/\/coinengineer.net\/blog\/solana-based-ride-sharing-app-teleport-closes\/","og_site_name":"Coin Engineer","article_published_time":"2025-01-31T07:00:15+00:00","article_modified_time":"2025-01-31T06:45:02+00:00","og_image":[{"width":1920,"height":1080,"url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/01\/grayscale_ce-1.png","type":"image\/png"}],"author":"Tanju Akb\u0131y\u0131k","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Tanju Akb\u0131y\u0131k","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/coinengineer.net\/blog\/solana-based-ride-sharing-app-teleport-closes\/","url":"https:\/\/coinengineer.net\/blog\/solana-based-ride-sharing-app-teleport-closes\/","name":"Solana-based ride-sharing app Teleport Closes - Coin Engineer","isPartOf":{"@id":"https:\/\/coinengineer.net\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/coinengineer.net\/blog\/solana-based-ride-sharing-app-teleport-closes\/#primaryimage"},"image":{"@id":"https:\/\/coinengineer.net\/blog\/solana-based-ride-sharing-app-teleport-closes\/#primaryimage"},"thumbnailUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/01\/grayscale_ce-1.png","datePublished":"2025-01-31T07:00:15+00:00","dateModified":"2025-01-31T06:45:02+00:00","author":{"@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546"},"breadcrumb":{"@id":"https:\/\/coinengineer.net\/blog\/solana-based-ride-sharing-app-teleport-closes\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/coinengineer.net\/blog\/solana-based-ride-sharing-app-teleport-closes\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/solana-based-ride-sharing-app-teleport-closes\/#primaryimage","url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/01\/grayscale_ce-1.png","contentUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/01\/grayscale_ce-1.png","width":1920,"height":1080,"caption":"Teleport"},{"@type":"BreadcrumbList","@id":"https:\/\/coinengineer.net\/blog\/solana-based-ride-sharing-app-teleport-closes\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/coinengineer.net\/blog\/"},{"@type":"ListItem","position":2,"name":"Solana-based ride-sharing app Teleport Closes"}]},{"@type":"WebSite","@id":"https:\/\/coinengineer.net\/blog\/#website","url":"https:\/\/coinengineer.net\/blog\/","name":"Coin Engineer","description":"Btc, Coins, Pre-Sale, DeFi, NFT","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/coinengineer.net\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546","name":"Tanju Akb\u0131y\u0131k","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g","caption":"Tanju Akb\u0131y\u0131k"},"url":"https:\/\/coinengineer.net\/blog\/author\/cetanju\/"}]}},"_links":{"self":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/35812","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/comments?post=35812"}],"version-history":[{"count":4,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/35812\/revisions"}],"predecessor-version":[{"id":35817,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/35812\/revisions\/35817"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media\/35813"}],"wp:attachment":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media?parent=35812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/categories?post=35812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/tags?post=35812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}