LAS VEGAS, NV, March 01, 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 excited to update current and prospective shareholders with more details about the Company’s unique business plan to disrupt the global Ride Hailing & Delivery Space over the coming five years.
For more information including the detail Business Plan, please visit https://warpspeedtaxi.com/landing/
Daniel Okelo, CEO of WarpSpeed Taxi, stated, “We have invested ourselves in the development of a unique model built from the ground up to drive rapid, cost-effective penetration in every geographic market around the world. Our shares just started trading, and we believe they represent a ground floor opportunity in a venture positioned to disrupt one of the most dynamic growth investment themes of our time. And it all starts with our flexible, modular technology platform, and a business model predicated on partnering with talented local entrepreneurs through geographically diverse joint ventures. Through this combination, we plan to target nearly every national market on the planet through local bottom-up strategies.”
Okelo continued, “In short, we will provide locally based partner entrepreneurs with access to a customized version of our state-of-the-art feature-rich white-label Turnkey software solution as well as a 50% ownership stake in the venture. In return, our partners will provide us with an initial runway of capital funding, hands-on day-to-day management of operations driven by local knowledge, and a low-overhead revenue stream with significant growth potential.”
WarpSpeed Taxi’s model is designed to leverage Joint Venture partnerships with local entrepreneurs interested in the Ride Hailing and Delivery space. In each local JV, the Company will provide a customized version of its highly adaptable white label WarpSpeed Taxi software platform. In return, partners will provide an initial six-month funding runway, and WarpSpeed will retain 50% ownership of each venture, and will also receive 2.5% of all gross revenues as a licensing fee for the use of the WarpSpeed software platform as well as an additional monthly backend management fee equal to $5,000 or 2.5% of sales, whichever is greater.
This structure will allow interested local entrepreneurs to break into an exciting growth opportunity without bearing the burden of millions of dollars and years of work spent on platform development. All each prospective local partner needs is access to operating capital to be up and running overnight.
By making Joint Venture deals fair and affordable, management believes the Company will be able to attract highly motivated and talented local entrepreneurs ready to drive success from day one. To help optimize outcomes once a new JV is established, WarpSpeed Taxi will register the domain and tailor the app for that country, and a WarpSpeed team will get involved to train local staff to handle daily operations and drive the success of the venture.
“We’re doing something truly different,” added Okelo. “The Ride Hailing and Delivery space is vulnerable to successful disruption from a local, bottom-up perspective. And our business model is the only one out there with a viable strategy to target that vulnerability. To do this, we are focusing on different outcomes in different markets, with our growth potential skewed positively in non-English-speaking markets lacking the presence of dominant multi-national direct competitors.”
The Company has put together a 5-year plan to target 90% of the 205 countries that make up the world. English is the primary language in 8 of those 205 countries, and the secondary language in another 64. English is neither the primary nor secondary language in the remaining 133 countries in the world.
Over the next 5 years, the Company is targeting the establishment of between 185 to 205 Joint Ventures with local entrepreneurs, and the achievement of a global market share in the ride hailing and delivery space of 11.5%.
Summary of WarpSpeedTaxi Expansion Strategy.
| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Total | |
| Uber present (Eng NOT primary) | 30 | 34 | 64 | |||
| Uber present (Eng primary) | 2 | 6 | 8 | |||
| Uber NOT present | 13 | 70 | 50 | 133 | ||
| Total | 32 | 40 | 13 | 70 | 50 | 205 |
| 90% Goal | 29 | 36 | 12 | 63 | 45 | 185 |
| Market Share | 0.13% | 1.10% | 2.81% | 6.66% | 11.53% |
WarpSpeed’s forecasts are driven by several core assumptions.
The Company’s analysis suggests it can achieve a market share that accelerates from .001% to .012% over its first five years in countries where English is the primary language and Uber is operating as a competitor. That market share progression increases to 0.0015% to .018% over five years where English is not the primary language, but where Uber is still operating as a competitor. This market share potential jumps further to 002% to .024% over five years in countries where English is not the primary language and Uber has not established an operating footprint.
Market Growth Rate Per Population for Each Category.
| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |
| Uber present (Eng NOT primary) | 0.0015% | 0.0023% | 0.0045% | 0.0090% | 0.0180% |
| Uber present (Eng primary) | 0.0010% | 0.0015% | 0.0030% | 0.0060% | 0.0120% |
| Uber NOT present | 0.0020% | 0.0030% | 0.0060% | 0.0120% | 0.0240% |
Based on those assumptions, we have laid out the following revenue projections for our first five years following full launch: A 5-year Joint Venture Revenue of 34 Million. Software Licensing Revenue and Backend Maintenance Revenue of 11.5 million each. Total Revenue of 57 Million.
WarpSpeedTaxi Gross Revenue Projections.
| Gross Revenue | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Total |
| Joint Venture | 269,055 | 1,769,683 | 4,327,732 | 9,360,126 | 18,869,928 | 34,596,525 |
| Software Licensing | 89,685 | 589,894 | 1,442,577 | 3,120,042 | 6,289,976 | 11,532,175 |
| Backend Maintenance | 89,685 | 589,894 | 1,442,577 | 3,120,042 | 6,289,976 | 11,532,175 |
| Total | 448,425 | 2,949,472 | 7,212,887 | 15,600,210 | 31,449,880 | 57,660,875 |
Warpspeed Taxi’s Net Revenue after expenses projections are as follows: A 5-year Joint Venture Net Revenue of 32 Million. Software Licensing Net Revenue of 10 Million and Backend Maintenance Net Revenue of half a million. Total Net Revenue of 44 million.
WarpSpeedTaxi Revenue after Expenses (EBIT) Projections.
| Revenues after Expenses | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Total |
| Joint Venture | 255,602 | 1,681,199 | 4,111,346 | 8,892,120 | 17,926,432 | 32,866,699 |
| Software Licensing | 85,201 | 560,400 | 1,370,449 | 2,964,040 | 5,975,477 | 10,955,566 |
| Backend Maintenance | 4,484 | 29,495 | 72,129 | 156,002 | 314,499 | 576,609 |
| Total | 345,287 | 2,271,094 | 5,553,923 | 12,012,162 | 24,216,408 | 44,398,874 |
Okelo concluded, “One caveat should be added to these projections: Our research also suggests the Ride Hailing and Delivery space is ripe for consolidation over time given the race for market share among larger players like Uber and Lyft. Hence, while we are targeting global expansion and organic growth, once our model gains traction, early investors may have access to an exit via acquisition before we complete our first five years.”
More details about the WarpSpeed Taxi Business Plan and the Company’s core assumptions can be found at http://www.warpspeedtaxi.com
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
