Alto Experience Inc., a startup founded in 2018, thinks it can do ride hailing better than Uber Technologies Inc. and Lyft Inc. That means, in part, shifting back toward how taxi companies operate.
The Dallas-based company has tapped investors on its contrarian thesis that owning vehicles and employing drivers will solve challenges that have plagued the gig-economy model pioneered by incumbents Uber and Lyft. Both companies have struggled to turn consistent profits as public companies and drawn ire from regulators.
