Uber competitor Sidecar stops picking up passengers

Sidecar will close operations on New Years Eve, after the more successful transportation app companies Uber and Lyft see off major rival

Uber has claimed its first major scalp, with San Francisco-based competitor Sidecar announcing on Tuesday that it will be shutting down operations at 2pm on New Year's Eve.

Despite raising $35m of venture capital funding over its four years in existence, from investors including Richard Branson and influential VC Fred Wilson, the company has announced it cannot continue in its present form.