Founded four years ago, Sidecar created one of the first apps to try ride-destination tracking, discounted carpooling and deliveries that placed people and packages on the same route. (Image: Sidecar)

(Bloomberg) — Sidecar Technologies Inc., the third-biggest U.S. car-hailing service, said it will end its ride and delivery operations as the company is squeezed out by better-known competitors Uber Technologies Inc. and Lyft Inc.

One of the pioneers of the ride-sharing concept, Sidecar will end its service on Dec. 31, co-founders Sunil Paul and Jahan Khanna wrote in a blog post. The move will help pave the way for the “next big adventure in 2016,” according to the letter.

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