Taxi medallion to "The Washington Post", medallions were "the best investment in America", but—due to increased competition from app-based car services and transportation network company growth from companies like Uber and Lyft—taxi medallions are now decreasing in price. In 2013, the price of a medallion was $625,000. In 2014, that price had risen to around $700,000. In 2014, a medallion was worth nearly $700,000. The total value of all medallions and assets related to them had a value of $2.5 billion in Chicago in 2013. In 2012, medallion prices ranged from $87,000 to $385,000. In 2015, Chicago's average medallion price was under
Hailo contain journey and payment information along with instructions to help retrieve any property lost or forgotten in the taxi. In February 2013, Black Car Assistance Corporation and Livery Roundtable filed a lawsuit against the taxi and limousine commission to prevent e-hailing companies from expanding to New York City. In April 2013, a judge dismissed the lawsuit and Hailo won the right to begin an e-hail beta trial. The decision was subsequently appealed. After a second temporary restraining order was issued against the pilot program, Hailo became the only taxi-hailing app-maker to join the lawsuit in support of the city. Hailo