OM Holdings International Expands the DoGetGo App in Western Jamaica with the Launch of DoRide

Rhea-AI Summary

On October 6, 2022, OM Holdings International (OTCQX: OMHI) launched the DoRide experience within its DoGetGo Super App at Half Moon Resort, Jamaica. This new ride-booking service involves government-approved drivers with newer vehicles. Partnering with the Jamaica Union Travelers Association (JUTA), OMHI aims to onboard 90% of JUTA's 12,000 drivers. The company expects substantial revenue from the projected 2.45 million visitors spending $2.9 billion in transportation by year-end. Future expansions will include various delivery and service options, enhancing user experience.

Positive

• Successful launch of DoRide within the DoGetGo Super App.
• Partnership with JUTA to onboard 90% of 12,000 drivers.
• Projected revenue growth from 2.45 million visitors expected to spend $2.9 billion in Jamaica.

Negative

• None.

Miami, Fla., Oct. 06, 2022 (GLOBE NEWSWIRE) -- OM Holdings International Inc (OTCQX: OMHI) is pleased to announce the successful launch of the DoRide experience within its DoGetGo Super App, at the Half Moon Resort, in Montego Bay, Jamaica. DoRide is a transportation experience that allows users to book rides in real-time, with government-approved drivers who own newer model vehicles.

This launch was done in conjunction with the Jamaica Union Travelers Association (JUTA), Montego Bay Chapter, which previously executed a SaaS agreement with OMHI’s technology subsidiary, Rydeum Caribbean, to exclusively use the DoGetGo Super App for real-time booking and payment processing over the next five years for their 12,000 drivers. 

With the assistance of JUTA’s management team, OMHI plans to progressively onboard drivers until 90 percent of the 12,000 JUTA drivers in the country are onboarded. The company has started onboarding in Western Jamaica, which will receive 72% of the nation’s projected 2.45 million visitor arrivals this year. In 2022, these visitors will spend about $2.9 billion nationally, with a large portion going towards transportation expenses. In 2023, the OMHI plans to complete DoRide expansion across the entire country by onboarding additional government-approved transport companies. 

Mark Vanterpool, CEO and Chairman of OMHI stated at the launch, “While DoRide is the first experience to be launched within the DoGetGo Super App, it will not be the last. Next year, we intend to use DoRide drivers as an agnostic, nationwide delivery ecosystem for five other DoGetGo experiences—DoFood (food delivery), DoMart (grocery delivery), DoShop (real-time eCommerce delivery), DoSend (courier service), and DoTours (real-time tour booking) by integrating local businesses into the DoGetGo ecosystem. Before the end of 2023, we plan to launch DoMed (telemedicine) and DoTask (professional services), which will synergistically complete the overall user experience.” 

“We are excited about bringing this Super App to the underserved Caribbean market. We are committed to giving power and freedom to this region, by onboarding vendors of all types and digitizing the exchange of goods and services. In the next couple of months, we plan to launch DoPay (real-time payments), which will allow DoGetGo users to seamlessly send cross-border payments in real time. This will be a game-changer for all residents and create unmatched shareholder value,” Vanterpool added. 

“This launch completes a milestone that began in 2017 to develop a global multi-tenant, multi-service technology platform for underserved countries. The successful execution from conception to implementation of this platform is a testament to the hard work of the OMHI management team, who is now intently focused on expanding DoGetGo into similar emerging markets globally,” concluded Vanterpool.

About OMHI
OMHI operates delivery services and grocery stores in the Caribbean, through a mobile application delivery platform that provides an expedient, contactless option for the transportation of people and essential goods. The company's storefront, OneMart, is the second-largest grocery store in the BVI. OHMI's technology subsidiary, Rydeum, has partnered with Jamacia’s largest taxicab union, JUTA, to launch the first Super App (DoGetGo) in the Caribbean. The company plans to become the leading provider of real-time goods and services in global underserved markets. For more information, please visit https://omholdingsinc.com/

Forward-Looking Statements
With the exception of the historical information contained in this news release, the matters described herein may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by, or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements involve unknown risks and uncertainties that may individually or materially impact the matters discussed herein for a variety of reasons that are outside the control of the company, including, but not limited to, the company’s ability to raise sufficient finance to implement its business plan, the impact of the COVID-19 pandemic on the company’s business, operations and the economy in general, and the company’s ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward-looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors put forth in the company’s filings with the SEC, which are available on the SEC’s website (www.sec.gov). The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Investor Relations Contact:
Andrew Barwicki
516-662-9461 / andrew@barwicki.com

FAQ

What is the DoRide experience by OMHI?

The DoRide experience is a real-time transportation service launched by OMHI within its DoGetGo Super App, allowing users to book rides with government-approved drivers.

When was the DoRide experience launched?

The DoRide experience was launched on October 6, 2022.

How many drivers will OMHI onboard for the DoRide service?

OMHI plans to onboard 90% of JUTA's 12,000 drivers for the DoRide service.

What is the projected visitor spending in Jamaica for 2022?

The projected visitor spending in Jamaica for 2022 is approximately $2.9 billion.

What are OMHI's future plans for the DoGetGo Super App?

OMHI plans to expand the DoGetGo Super App to include additional services like food delivery, eCommerce, courier services, and telemedicine.