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Wall Street slips as Powell's comments stoke rate hike fears

February 27, 2018 by  
Filed under News

(Reuters) – U.S. stocks fell sharply on Tuesday after Federal Reserve Chairman Jerome Powell’s comments on strengthening economy and inflation boosted bets the central bank would squeeze in a fourth rate hike this year.


Source: Reuters Business News

YayYo, Inc. Launches APP for its Peer-to-Peer Platform Rideshare Rental

February 27, 2018 by  
Filed under Articles

LOS ANGELES – February 26, 2018 – YayYo, Inc today announces It has launched the APP for its previously announced subsidiary, RideShare Car Rentals, LLC. The APP is available both in IOS and Android. The APP has all the functionality as the website www.RideShareRental.com. Allowing renters to do everything from booking a car to extending their rentals.

The APP can be downloaded from the:

Apple store at https://itunes.apple.com/ca/app/rideshare-rental/id1338753121?mt=8
Google play at https://play.google.com/store/apps/details?id=com.ridesharerental.app

The www.RideSharerental.com platform is also a peer-to-peer platform where individuals and fleet owners can list their cars to rent to rideshare drivers.

“We are excited that we have launched the APP making it easier for our renters to find, rent, and extend their cars on their smart phones,” said Ramy El-Batrawi, CEO. “We recognize most drivers are in their cars a large part of their day and the APP make it much more convenient for them”

Those interested in renting cars can go to www.RideShareRental.com

The Company was also qualified on March 17th, 2017 by the Securities and Exchange Commission for a Regulation A+ Initial Public Offering to raise gross proceeds of $50 million. Interested investors can purchase shares directly at www.YayYoIpo.com.

YayYo, Inc., also recently announced that the Company has filed an application to list its common stock on the NASDAQ Capital Market..
Forward-Looking Statements
This release contains certain statements that are, or may be deemed to be, forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934, and are made in reliance upon the protections provided by such Acts for forward-looking statements. We have identified forward-looking statements by using words such as “expect,” “believe,” and “should.” Although we believe our expectations are reasonable, our operations involve a number of risks and uncertainties that are beyond our control, and these statements may turn out not to be true. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company’s Form SEC filings.

Media contact:
Ramy El-Batrawi
310-926-2643
info@yayyo.com

YayYo, Inc. Subsidiary Distinct Cars, LLC Turns Profitable

February 27, 2018 by  
Filed under Articles

LOS ANGELES – December 19, 2017 – YayYo, Inc today announces that its wholly owned subsidiary, Distinct Cars, LLC has turned profitable.

Distinct Cars, LLC owns a fleet of new cars which are rented to rideshare drivers mainly through the www.RideShareRental.com website.

Revenues have almost doubled in each of the last three months. The company turned profitable in the month of November.

“We are very happy that our subsidiary, Distinct Cars, has become a profitable company and is now building value for our shareholders and note holders. We anticipate that December will actually show even greater revenues and profits as we add even more cars to our platform,” said Ramy El-Batrawi, CEO.

“Our potential to keep growing is huge. The rideshare industry is still at its infancy and growing. As the rideshare industry grows we grow with it. We expect our market share to increase even more due to the incredible value proposition we give to our drivers. In addition, we are continually adding more cars to our fleet, increasing our revenues for every car we add. We are keeping our fleet near 100% utilization and by adding the peer-peer component it will help us expand faster and boosts our revenue and margins.”

Mr. El-Batrawi also stated, “Our business strategy is to find the best drivers in the industry and put them into brand new cars to provide the greatest value to the riders and the rideshare companies.”

Those interested in renting cars can go to www.RideShareRental.com

The Company was also qualified on March 17th, 2017 by the Securities and Exchange Commission for a Regulation A+ Initial Public Offering to raise gross proceeds of $50 million. Interested investors can purchase shares directly at www.YayYoIpo.com.

YayYo, Inc., also recently announced that the Company has filed an application to list its common stock on the NASDAQ Capital Market..

Forward-Looking Statements
This release contains certain statements that are, or may be deemed to be, forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934, and are made in reliance upon the protections provided by such Acts for forward-looking statements. We have identified forward-looking statements by using words such as “expect,” “believe,” and “should.” Although we believe our expectations are reasonable, our operations involve a number of risks and uncertainties that are beyond our control, and these statements may turn out not to be true. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company’s Form SEC filings.

Media contact:
Ramy El-Batrawi
310-926-2643
info@yayyo.com

YayYo, Inc. Launches Peer-to-Peer Platform To Rent Cars To Rideshare Drivers

February 27, 2018 by  
Filed under Articles

LOS ANGELES – December 18, 2017 – YayYo, Inc today announces the formation of RideShare Car Rentals, LLC under which it has launched its own platform www.RideShareRental.com to rent out the fleet of YayYo cars out of YayYo’’s previously announced subsidiary, Distinct Cars, LLC. RideShare Car Rentals, LLC is a wholly owned subsidiary of YayYo, Inc.

The www.RideSharerental.com platform is also a peer-to-peer platform where individuals and fleet owners can list their cars to rent to rideshare drivers. RideShare Rental plans to launch the app version in the first week of January.

YayYo’s fleet is almost 100% rented out. YayYo plans to order additional cars for its fleet. With the addition of the peer-to-peer platform, YayYo has commitments from other fleet owners to make their cars available to RideShare Rental, allowing YayYo to expand much more rapidly. RideShare Rental charges a transaction fee to the driver and owner thus making it a profit center.

Approximately 35% to 50% of the drivers that apply to drive for Uber or Lyft do not have a car that qualifies for those companies. With the hyper growth of these rideshare companies the demand will continue to grow dramatically. YayYo is positioned to take advantage of this growth.

Demand for drivers and cars for the rideshare industry have been strong since the start of this disruptive industry, by adding the peer-to-peer capability it will help meet demand beyond just our own fleet of cars.

“We originally tested out the business model on another platform, after seeing how big the market place was for cars to rideshare drivers, we knew immediately that the direction the company was going into was the right one,” said Ramy El-Batrawi, CEO. “We put as much resources as we could to complete and launch our own platform”

Mr. El-Batrawi stated, “Putting the cars on our own platform increased our revenue per car by almost 40%. This is a significant milestone for our company. Our strategy for YayYo is working and we are building value for our shareholders.”

Those interested in renting cars can go to www.RideShareRental.com

The Company was also qualified on March 17th, 2017 by the Securities and Exchange Commission for a Regulation A+ Initial Public Offering to raise gross proceeds of $50 million. Interested investors can purchase shares directly at www.YayYoIpo.com.

YayYo, Inc., also recently announced that the Company has filed an application to list its common stock on the NASDAQ Capital Market..
Forward-Looking Statements
This release contains certain statements that are, or may be deemed to be, forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934, and are made in reliance upon the protections provided by such Acts for forward-looking statements. We have identified forward-looking statements by using words such as “expect,” “believe,” and “should.” Although we believe our expectations are reasonable, our operations involve a number of risks and uncertainties that are beyond our control, and these statements may turn out not to be true. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company’s Form SEC filings.

Media contact:
Ramy El-Batrawi
310-926-2643
info@yayyo.com

China's Geely raid on Daimler reignites German know-how fears

February 26, 2018 by  
Filed under News

BERLIN/FRANKFURT (Reuters) – Automaker Geely’s purchase of a $9 billion stake in Mercedes maker Daimler rekindled fears in Germany on Monday of its highly-prized expertise falling into Chinese hands.


Source: Reuters Business News

Supreme Court justices skeptical of American Express merchant fees

February 26, 2018 by  
Filed under News

WASHINGTON (Reuters) – Liberal U.S. Supreme Court justices on Monday sharply questioned American Express over restrictions the company places on merchants forbidding them from encouraging customers to use rival credit cards with lower fees, which several states and the Trump administration claim violate federal antitrust law.


Source: Reuters Business News

Apple plans three new iPhones for 2018: Bloomberg

February 26, 2018 by  
Filed under News

(Reuters) – Apple Inc is preparing to release three new smartphones later this year, including the largest iPhone ever, Bloomberg reported on Monday, citing people familiar with the products.


Source: Reuters Business News

Visa to defend tourists' card fees at EU antitrust hearing

February 26, 2018 by  
Filed under News

BRUSSELS (Reuters) – Visa will on Tuesday try to fend off European Union antitrust charges that it subjects foreign tourists to excessive fees when they use their cards in the EU, people familiar with the matter said.


Source: Reuters Business News

Broadcom calls Qualcomm's offer for price talks 'engagement theater'

February 26, 2018 by  
Filed under News

(Reuters) – Broadcom Ltd on Monday called a proposal by U.S. semiconductor peer Qualcomm Inc for a new meeting to negotiate an increase to Broadcom’s $117 billion acquisition offer “engagement theater” aimed at dodging a takeover battle.


Source: Reuters Business News

Boeing to have 51 percent stake in venture with Embraer: paper

February 25, 2018 by  
Filed under News

BRASILIA (Reuters) – Boeing Co will have a 51 percent stake in a joint company currently being negotiated with Brazilian aircraft maker Embraer , O Globo newspaper columnist Lauro Jardim reported on Sunday.


Source: Reuters Business News

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