Lola, the travel management company focused on small and midsize-enterprises (SME) , has “shut down its current service,” according to a post on its website signed by Mike Volpe, CEO; and Paul English, chief technology officer. English was a co-founder of Kayak, the travel metasearch engine. The website posting said there would be “exciting news about the next phase for” Founded in 2016, the company signed an exclusive partnership with American Express Global Business Travel (GBT) in 2018. Feeling the effects of the pandemic and cutbacks in corporate travel, Lola announced in March 2020 that it would lay off nearly one-third of its workforce. Last fall, Lola introduced a new corporate spending and expense management tool called Lola Spend. Last month, another TMC targeting the SME market, Upside Business Travel, stopped operating in the face of the pandemic.