Fort Lauderdale, FL, April 01, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- DNA Brands Inc., is pleased to announce that the company has purchased its first round of vehicles for its ridesharing fleet. After recently signing the First Fleet Agreement with RideShare Rental.com, in the state of Florida, DNA Brands has teamed up with a local statewide car dealership to purchase, accommodate and house the fleet. DNA Brands is now able to upload its fleet to the RideShare Rental homepage. DNA Brands will start advertising and holding seminars with Uber and Lyft drivers in South Florida, putting the fleet to work to generate immediate revenue.
DNA's Fleet vehicles available to rent can be found at :
“By renting out the fleet, and teaming up with a local statewide dealership, immediate revenue is provided to DNA. This is a business model that is working in California with ridesharerental.com, and we will look to duplicate it here in Florida,” stated CEO Adrian McKenzie.
Working with company council, the company is also in the process of drafting a Reg A Subscription agreement, which it will look to submit to the SEC by about the second week in April for their initial comments.
About the Rideshare/ Transportation Network Providers(TNP) Space:
A TNP company, also referred to as a rideshare company, provides prearranged transportation services for compensation through an Internet-enabled application or digital platform to connect passengers with drivers of vehicles for hire. TNP drivers with their vehicles join and become affiliated with TNP companies, and are then available to be dispatched through the TNP’s digital platform. Uber and Lyft are the leaders in the industry, with Uber’s valuation being about $120 Billion and Lyft’s valuation at around $24+ Billion Dollars.
Lyft IPO’d on Friday, March 29, 2019, and is being touted by investment banking professionals from around the world (along with Uber’s upcoming IPO) as the next major shift in the TNP sector. Some have even speculated that the upcoming Uber IPO could be the biggest Tech IPO ever in history.
Investors in Uber (who currently dominate the rideshare space) include those from Goldman Sachs, Microsoft, Saudi Arabia's Public Investment Fund and Japan’s Softbank. According to cnbc.com, their urban mobility platform is still growing, and Uber’s Gross bookings were $37 billion in 2017, up from $20 billion in 2016. Net revenue (the amount left after paying drivers) reached $7.4 billion in 2017, an increase of nearly 14 percent over the prior year. Also fueling the company's growth is UberEATS, which was launched in 2016. The food-delivery service is now available in 120 cities worldwide, and is actually bigger than the company's ride-hailing business in several Asian markets, including Tokyo, Taipei, Seoul, and South Korea.
Investors in Lyft have included CapitalG, Alliance Bernstein, KKR, Japanese retailer Rakuten and Canada's Public Sector Pension Investment Board. With all eyes on these two Behemoths, the playing fields and ancillary growth opportunities are plenty.
About RideShare Rental.com
RideShare Rental (which is a wholly owned subsidiary of YayYo Inc.), bridges the gap between rideshare drivers in need of suitable vehicles, and rideshare companies whose brands depend on attracting and keeping drivers with higher-quality vehicles.
RideShare Rental rents cars to rideshare drivers, provides those drivers with insurance, and gives fleet operators a platform on which to rent their vehicles to the rideshare market. Their daily, weekly, and long-term rentals can be found in major cities like Los Angeles, San Francisco, San Diego, Dallas, Baltimore and now Sunny South Florida. New locations are opening each month across the United States. RideShare Rental is headquartered at 6600 Sunset Boulevard in Los Angeles, California.
RideShare Rental’s most recent S-1 Registration statement filing can be found in the link below.
https://www.nasdaq.com/markets/ipos/filing.ashx?filingid=13005469
https://www.ridesharerental.com/
About DNA Brands Inc.
DNA Brands is a Holding company. The primary asset of the company is the two time award winning energy drink line (DNA ENERGY). The flavors are citrus, lemon lime, citrus sugar free, and cranberry raspberry sugar free flavors under the DNA Energy drink brand name. At present the company owns all the IP that developed the award winning energy drink line. Management at DNA is working to grow the business, on the premise of increasing growth and shareholder value. The company is also updating and reconstructing its website to better reflect the nature of future business. However at the moment, those of interest can always learn more about our latest accomplishment by clicking our link below. In addition to the recent Rideshare Business, the company has also been in talks with some other very exciting cutting edge disruptive opportunities, which it hopes to secure in the near future.
http://ridesharefleetofflorida.com
DISCLAIMER
This press release contains statements that are "Forward-Looking" in nature (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1993, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). All Statements regarding the Company's financial position, potential, business strategy, plans and objectives for future operations are Forward-Looking statements. Many of these statements contain words such as "goal," "aims," "may," "expect," "believe," "intend," "anticipate," "estimate," "continue," "would," "exceed," "should," "steady," "plan," "potential," "dramatic," and variations of such words and similar expressions identify Forward-Looking statements, but their absence does not mean that a statement is not a Forward-Looking statement. Because Forward -Looking statements involve future risks and uncertainties, there are many factors that could cause actual results to differ materially from those expressed or implied. The Company cannot predict the actual effect these factors will have on its results and many of the factors and their effects are beyond the Company's control. Any forward-looking statement made by the Company speaks only as of the date on which it is made. The Company is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, subsequent events or otherwise. Given these uncertainties, you should not rely too heavily on these forward-looking statements.