LAS VEGAS, NV, Feb. 15, 2022 (GLOBE NEWSWIRE) -- WarpSpeed Taxi Inc. (OTC Pink: WRPT) (“WarpSpeed” or the “Company”), the developer of an all-in-one software solution for ride hailing, food delivery, and courier services, is pleased to issue the following Letter to Shareholders from the Company’s CEO:
Dear Valued Shareholder,
Today, it is my pleasure to introduce you to WarpSpeed Taxi, our new 2-in-1 white label ride-hailing and delivery services platform company.
We believe WarpSpeed represents a ground floor opportunity in an exciting venture. The company has global expansion potential in one of the fastest growing markets. We have a truly unique model designed to leverage partnerships with local entrepreneurs to allow for locally branded marketing, niche familiarity, and rapid expansion.
For more information, please visit https://warpspeedtaxi.com/landing/
Our software development phase has already been completed, and the WarpSpeed Taxi app will soon be available on all major mobile platforms. With the app, drivers will be able to provide Taxi services to passengers and delivery services to restaurants, grocery stores, and individuals or businesses in need of courier services.
From day one our goal with WarpSpeed Taxi was to develop a model that allows us to scale globally at a rapid pace, provide profits to our shareholders without dilution risk, reduce ride and delivery costs for passengers and businesses, and incentivize drivers with a larger overall cut from multiple overlapping services.
We are now engaged in active beta testing in Ahmedabad, India. Once we complete beta testing and integrate any necessary software patches, we will launch live across India and begin our expansion in additional countries. We expect this to occur next quarter.
As noted above, we have developed a non-capital-intensive strategy for rapid expansion and marketing that will allow us to scale the model globally through local partnerships without leveraging our balance sheet or diluting investors. The key lies in our software’s modular, customizable design.
This design will allow us to quickly and easily clone and tailor any number of different versions of our base platform to target local markets anywhere in the world through joint venture partnerships with local entrepreneurs. The plan is simple: a local entrepreneur interested in launching a local ride hailing and delivery service will provide 6 months of operational funding, in return for which they will gain a 50% ownership position in the venture without the need to invest millions of dollars or months of time in developing their own software platform.
Moreover, our market research suggests local branding is a critical factor in consumer choice, particularly in the developing world, where large Western brands are often intimidating and perceived as unaffordable. Our service taps into this preference for local branding and offers an affordable option that local consumers are able to trust and identify with.
Our model also allows our partners to affordably own half of a national ride-hailing and delivery company in the market they know best. That local knowledge will help drive smooth launches as the platform expands to new markets. Local venture partners won’t need millions of dollars in upfront cash to get involved. With our expertise, partners will walk into a turn-key opportunity and be operational overnight.
WarpSpeed Taxi will retain 50% ownership of each local venture in each new country and will receive a licensing fee of 2.5% of all gross revenues for the use of our WarpSpeed Taxi software platform. We will also receive an additional monthly backend management fee equal to the greater of $5,000 or 2.5% of total sales.
This creates a win-win situation: we retain a low-overhead business with huge expansion potential, and our partners are free to focus solely on customer service and daily operations, with no need to worry about technology development, software maintenance, or backend data management.
As noted above, our initial beta launch is already underway in Ahmedabad, India, under the local brand of “Tezi Taxi”, which means “Fast Taxi” in Indian. As we move past beta testing, we will immediately launch across the rest of India, seeking to serve its large population of more than 1.3 billion people. The Indian operation will then be handed off to an operational team, and our team will launch the service in another country, with developers and designers on hand to tailor the branding of the WarpSpeed platform to match local needs.
While we are targeting global expansion and organic growth, once our model gains traction, early investors may have access to an exit via acquisition given the competition for market share going on among several very large multi-national corporations already in this space.
Our model scales quickly, generates significant revenue sharing and profits, and has limited overhead. We have completed the difficult tasks of product creation and development and will shortly be launching our software solution in a market with strong demand.
In summary, we have already completed our core development process for our state-of-the-art, feature-rich white label ride hailing and delivery software platform and will shortly be expanding across India and into other national markets, with each new step supported by signed and fully funded contractual relationships.
We believe our goal of expanding the WarpSpeed Taxi footprint into 90% of the countries in the world within 36 months is feasible. We look forward to providing more information and updates in the near future as we continue to make progress and hit milestones.
Best Regards,
Daniel Okelo, CEO
About WarpSpeed Taxi
WarpSpeed Taxi Inc. is a company involved in the development, testing, and marketing of a ride-hailing and food delivery computer and mobile device application known as “WarpSpeedTaxi” that will provide travelers with convenient door-to-door transport that leverages smart mobility platforms to connect drivers with passengers and lets drivers use their personal vehicles.
For more information go to: http://www.warpspeedtaxi.com
Forward-Looking Statements
This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. That includes the possibility that the company is not successful in developing, testing, or marketing its computer application, is unable to launch its application in India or any other jurisdiction, or fails to attract customers that use the application. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of WarpSpeed Taxi Inc. to be materially different from the statements made herein. Except for any obligation under the U.S. federal securities laws, WarpSpeed Taxi Inc. undertakes no obligation to publicly update any forward-looking statement as a result of new information, future events or otherwise.
Corporate Contact:
2261 Rosanna Street, Las Vegas, Nevada, 89117
Telephone: (269) 692-9418
info@warpspeedtaxi.com
Public Relations:
EDM Media, LLC
https://edm.media
