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GetSwift Technologies Limited (NEO: GSW) has entered a partnership with Uber Technologies, Inc (NYSE: UBER) to integrate their product suites, enhancing delivery services across the U.S. and later Canada, Mexico, Brazil, and Australia. This collaboration aims to provide clients with a competitive delivery fee structure and leverage Uber's extensive driver network. The integration promises secured customer interactions and brand protection for GetSwift clients, with a soft launch planned for late 2021, followed by broader deployment in 2022.
Positive
Partnership with Uber enhances service offerings and market reach.
Access to Uber's large network of drivers improves delivery capabilities.
Fixed-fee pricing model based on distance enhances scalability for clients.
Negative
Dependence on successful integration with Uber's products; failure could impact service delivery.
Forward-looking statements indicate potential uncertainties and risks involved in the partnership.
NEW YORK--(BUSINESS WIRE)--
GetSwift Technologies Limited (NEO: GSW) (“GetSwift” or the “Company”) is pleased to announce that today it has signed a partnership agreement with Uber Technologies, Inc (“Uber”) to integrate and offer a suite of best-in-class products and services.
With this partnership, when fully deployed and integrated, both existing and new clients across the United States, and expected later in Canada, Mexico, Brazil and Australia, will have access to Uber’s vast pool of drivers and vehicles. GetSwift and Uber over the next few months will integrate their product offerings so that clients will be able to use the GetSwift product suite knowing that their data, customer interaction and payments are secured by GetSwift, in effect protecting their brand equity while benefiting from everything that is amazing about Uber.
Furthermore, all delivery fees and pricing will be managed on a fixed-fee structure based on distance and not basket size, enabling GetSwift clients of all sizes and industries to scalably expand and grow in highly competitive verticals. Alongside GetSwift’s fleet management, batching, and product suite, the company believes the overall pricing per delivery will be highly competitive and disruptive. The company further believes that by combining the unique capabilities and key offerings of both organizations, that this combination is the start of something truly unique.
“Providing delivery as a service to merchants around the world is an Uber priority, and we are happy to be partnering with GetSwift to bring the best of Uber’s logistics network to its new and existing customers,” said Pooja Daftary, head of Uber Direct at Uber. “Beginning in the US we will collaborate to provide a best-in-class customer experience that marries Uber’s logistics expertise and global network with GetSwift’s unique product suite.”
"I am pleased to announce today the start of the Uber-GetSwift partnership. It has taken us a lot of work to arrive at this point, and still lots more remains ahead of us. With that said, we believe that this is going to be an important initiative and offer an incredible blend of products and services that are not only expected to meet current customer demands, but also those that are yet to emerge in this evolving global ecosystem. We expect to have a soft launch before the end of 2021 and then starting in 2022, we expect to be focused on jointly deploying and operating in the regions noted, as well as potentially expanding this model as we evaluate applicability in other regions. With GetSwift’s unique model and product suite, Uber is the perfect partner for us. We look forward to making a positive and long-lasting impact with the customers and communities we serve," said GetSwift CEO Bane Hunter.
About GetSwift Technologies Limited
Technology to Optimise Global Delivery Logistics
GetSwift is a technology and services company that offers a suite of software products and services focused on business and logistics automation, data management and analysis, communications, information security, and infrastructure optimization and also includes ecommerce and marketplace ordering, workforce management, data analytics and augmentation, business intelligence, route optimization, cash management, task management shift management, asset tracking, real-time alerts, cloud communications, and communications infrastructure (collectively, the “GetSwift Offering”). The GetSwift Offering is used by public and private sector clients across industries and jurisdictions for their respective logistics, communications, information security, and infrastructure projects and operations.
GSW is headquartered in New York and its common shares are listed for trading on the NEO Exchange under the symbol “GSW”. The Corporation has filed and obtained a receipt for the Prospectus. A copy of the Prospectus can be obtained under Getswift's corporate profile on SEDAR at www.sedar.com. For further background, please visit www.getswift.co.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this news release and to other matters identified in public filings relating to the Corporation, to the future outlook of the Corporation and anticipated events or results and may include statements regarding the future financial performance of the Corporation. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Forward-looking Statements in this press release include statements related to the ability of the Corporation and Uber to successfully complete the integration their product offerings, the anticipated timeline for the completion and deployment of the integration with Uber, the anticipated pricing of the GetSwift Offering following the completion of the integration with Uber, the anticipated features of the GetSwift Offering following completion of the integration with Uber and the potential impact on the Corporation’s clients, the geographic markets in which the integration will be introduced and deployed. Forward-looking Statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation's expectations include, without limitation, the failure of the Corporation and Uber to integrate their product offerings in a manner that is commercially viable or consistent with the partnership agreement, the decision of the Corporation or Uber to terminate the partnership agreement, either before or after the initial deployment of the GetSwift Offering as integrated with Uber’s offerings, changes to pricing of the GetSwift Offering, advances or changes in available technology that render the GetSwift Offering or the integration with Uber unviable, the usage of the GetSwift Offering and related feedback by and from existing and new clients of the Corporation following the Uber integration, the initiation of any third-party claims relating to the intellectual property related to the GetSwift Offering or the integration with Uber,, and the other risk factors set forth in our interim management’s discussion and analysis for the interim period ended March 31, 2021 under the heading "Risk Factors". The Corporation undertakes no obligation to update or revise any Forward-looking Statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Corporation to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any Forward-looking Statement. Any Forward-looking Statements contained in this press release are expressly qualified in their entirety by this cautionary statement.
