Tech investor Eileen Burbidge and chair of industry group Tech City UK, said on Friday: "I'm disappointed to see this decision because it does suggest that London is being more protectionist than innovative, given how extraordinarily popular Uber is in London".
London's transport authority TfL or Transport for London has confirmed that it's not going to renew Uber's license to operate in London.
More than 640,000 Londoners have signed a petition to save Uber, after regulators in the capital refused to grant the online taxi application a new license to operate in the United Kingdom capital.
Uber is a "disgrace", shadow chancellor John McDonnell said as Labour heavyweights clashed with the Tories over the taxi app firm losing its licence to operate in London.
Alongside Uber's drivers, some of London's 3.5 million registered users expressed concern as to how TfL's decision would affect their lives.
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"Transport for London and the mayor have caved in to a small number of people who want to restrict consumer choice", it said.
More than 650,000 people have signed a petition calling for the decision not to grant a new licence to be reversed.
More than 600,000 people in the United Kingdom have signed an online petition protesting against Uber's ban in London, even as police in the capital accused the company of falling short over reporting sexual offences allegedly committed by some of its drivers.
Uber has 40,000 drivers working in the capital, and a spokesman for Uber said around 20,000 Uber drivers had emailed the city's mayor directly to object to the decision. The decision in their favour was thought to open up the possibility of claims from all of its 40,000 drivers in the United Kingdom, who are now not entitled to holiday pay, pensions or other workers' rights. "They have let down their drivers and customers".
And Mr Corbyn, who is a keen Arsenal fan but did not take to the pitch, will be hoping it is not a bad omen for the party, which is on a high after a better-than-expected election result. It succeeded in reversing regulatory decisions in London and in NY in 2015.
Uber has, however, announced a series of changes over the last few months to improve conditions for its drivers, including the introduction of in-app tipping and plans to increase some fees. So while Uber drivers' jobs are in jeopardy, they will still be able to work for a while, and, in the case that Uber wins an appeal, might never lose their ability to work at all. TfL also took issue with Uber's explanation of software that could be used to block regulators from gaining full access to the app and "prevent officials from undertaking regulatory or law enforcement duties".