World Moto Excited About Indian Taxi Opportunity

Jan. 05, 2016 3:01 PM ETFARE
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Short Only

Contributor Since 2009

Proactiveinvestors is a leading multi-media news organisation, investor portal and events management business with offices in New York, Sydney, Toronto, Frankfurt and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of listed companies across the globe daily. We are one of the fastest growing financial media portals in the world. The group also operates hugely successful “investor forums” where three or four companies present to an audience of high net sophisticated investors, fund managers, hedge funds, private client brokers and analysts. Ian Mclelland founded Proactiveinvestors in 2006 as a way to channel his own views on companies small and mid-cap public companies. What started as a hobby quickly turned into a full time job as the website's readership exploded. One2One forums were added later in 2006, and within two years the company had expanded its operations into Canada and Australia. In 2009 the company expanded into Germany and finally into the US in 2010. Proactiveinvestors is now one of the fastest growing global financial media organizations in the world receiving more than one million visitors per month, with investor forums held across the globe on a regular basis.

Motorcycle taxi service solutions provider World Moto (OTC:FARE) is excited about the billion dollar opportunity presented by India following new regulations on the use of such vehicles.

It says it's been contacted by multiple operators in the continent about its technology.

Haryana, the state surrounding New Delhi, has just become the second, after Goa, to officially permit the use of two wheeled vehicles for commercial passengers.

States such as Delhi, Mumbai and Bengaluru are expected to soon follow suit. Current estimates are that Haryana alone will require a fleet of at least 50,000 motorcycle taxis and that the industry could represent billions of dollars.

Chief executive Paul Giles said: "India represents a huge market, and just the National Capital Region alone, of which south Haryana is a part, is home to nearly 50 million people."

He added: "This is an extraordinary opportunity for Indian operators to enter a completely untouched market free of any cultural legacies, and World Moto is committed to working with all of them to help build the most professional motorcycle taxi fleets in the world."

World Moto's services include the Moto-Meter - a motorcycle taxi-meter, and Wheelies, which display static and streaming media content on the wheels of motorcycles, and Yes™(aka HailYes™) - a smartphone app for on-demand transportation.

Recommended For You

Comments

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.