OS ANGELES – August 9, 2017 – YayYo, Inc., today announced it has received first group of cars using the fleet financing YayYo previously announced for its fleet of vehicles
YayYo negotiated special pricing with Hyundai Motor America; the cars are being delivered through SoCal Penske Dealer Group.
YayYo will place the vehicles on its platform and any excess vehicles will be rented to drivers of other ridesharing companies. Renting excess vehicles allows YayYo to start generating revenues. With our lower cost of vehicle through our purchase program and volume of cars we are buying makes it a profit center for YayYo.
YayYo is now currently generating revenue from its fleet. This is an important milestone for the company.
The company will continue to take delivery of new cars in the coming weeks and months, thus building its revenues.
“We are excited after months of waiting to receive the first 2018 vehicles from Hyundai and to be able to start generating revenues for YayYo.” Ramy El-Batrawi, CEO “We are excited to be moving forward with our business plan.”
Those interested in driving for YayYo can fill out an application by visiting the website www.drive4yayo.com. Those interested in renting cars can email YayYo at info@yayYo.com
The Company was also recently qualified 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.
- Ramy El-batrawi