WarpSpeed Taxi Inc (WRPT) Schedules 3rd Round of Beta Testing

Rhea-AI Summary

WarpSpeed Taxi (WRPT) announced the commencement of the 3rd round of beta testing for its application in Ahmedabad, India, branded as Tezi Taxi. The company aims for rapid global expansion, leveraging local partnerships to customize its software for various markets. With a focus on local branding, WarpSpeed Taxi retains 50% ownership in ventures while charging a 2.5% licensing fee on gross revenues. The model minimizes overhead and dilution risk, making it attractive for investors. The company aims to expand into 90% of global markets within 36 months, supported by operational teams in each region.

Positive

• Commencing 3rd round of beta testing for WarpSpeed Taxi app in India.
• Strategic focus on local branding to enhance consumer trust and adoption.
• Retains 50% ownership in new ventures while charging 2.5% licensing fees, supporting revenue generation.
• Aims to expand into 90% of global markets within 36 months, indicating aggressive growth plans.

Negative

• Risks associated with developing and marketing the application, as per forward-looking statements.
• Dependence on joint venture partners for expansion may pose operational challenges.
• Market adoption of the app remains uncertain, which could affect revenue.

LAS VEGAS, NV, April 13, 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 pleased to announce that it is commencing the 3^rd round of beta testing of its WarpSpeed Taxi computer application.

As previously announced, our initial beta launch is already underway in Ahmedabad, India, under the local brand of “Tezi Taxi”, which means “Fast Taxi” in Indian. As we move past beta testing, we will immediately launch our application across the rest of India, seeking to serve its large population of more than 1.3 billion people. The Indian operation will then be entrust with our operational team, which will launch the service in an additional country, with developers and designers on hand to tailor the branding of the WarpSpeed platform to match local needs.

The software development and support teams has been working very hard to ensure that beta testing is successfully completed in order to launch TeziTaxi (WarpSpeed Taxi’s Indian Label) in Ahmedabad.

For more information, please visit https://warpspeedtaxi.com/investors

With the WarpSpeed Taxi app, drivers will be able to provide taxi services to passengers and delivery services to restaurants, grocery stores, and individuals or businesses in need of courier services.

From day one, our goal with WarpSpeed Taxi was to develop a model that allows us to scale globally at a rapid pace, provide profits to our shareholders without dilution risk, reduce ride and delivery costs for passengers and businesses, and incentivize drivers with a larger overall cut from multiple overlapping services.

As noted above, we have developed a non-capital-intensive strategy for rapid expansion and marketing that will allow us to scale the model globally through local partnerships without leveraging our balance sheet or diluting investors. The key lies in our software’s modular, customizable design.

This design will allow us to quickly and easily clone and tailor any number of different versions of our base platform to target local markets anywhere in the world through joint venture partnerships with local entrepreneurs. The plan is simple: a local entrepreneur interested in launching a local ride hailing and delivery service will provide 6 months of operational funding, in return for which they will gain a 50% ownership position in the venture without the need to invest millions of dollars or months of time in developing their own software platform.

Moreover, our market research suggests local branding is a critical factor in consumer choice, particularly in the developing world, where large Western brands are often intimidating and perceived as unaffordable. Our service taps into this preference for local branding and offers an affordable option that local consumers are able to trust and identify with.

Our model also allows our partners to affordably own half of a national ride-hailing and delivery company in the market they know best. That local knowledge will help drive smooth launches as the platform expands to new markets. Local venture partners won’t need millions of dollars in upfront cash to get involved. With our expertise, partners will walk into a turn-key opportunity and be operational overnight.

WarpSpeed Taxi will retain 50% ownership of each local venture in each new country and will receive a licensing fee of 2.5% of all gross revenues for the use of our WarpSpeed Taxi software platform. We will also receive an additional monthly backend management fee equal to the greater of $5,000 or 2.5% of total sales.

This creates a win-win situation: we retain a low-overhead business with huge expansion potential, and our partners are free to focus solely on customer service and daily operations, with no need to worry about technology development, software maintenance, or backend data management.

While we are targeting global expansion and organic growth, once our model gains traction, early investors may have access to an exit via acquisition given the competition for market share going on among several very large multinational corporations already in this space.

Our model scales quickly and has limited overhead. We have completed the difficult tasks of product creation and development and will shortly be launching our software solution in a market with potentially strong demand.

In summary, we have already completed our core development process for our state-of-the-art, feature-rich white label ride hailing and delivery software platform and will shortly be expanding across India and into other national markets, with each new step supported by signed and fully funded contractual relationships.

We believe our goal of expanding the WarpSpeed Taxi footprint into 90% of the countries in the world within 36 months is feasible. We look forward to providing more information and updates in the near future as we continue to make progress and hit milestones.

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, that the company is unable to secure joint venture partners in multiple jurisdictions, and that consumers do not adopt the WarpSpeed Taxi application as anticipated.. 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, Nature Consulting, 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  

FAQ

What is the latest development for WarpSpeed Taxi (WRPT)?

WarpSpeed Taxi has commenced the 3rd round of beta testing for its application in Ahmedabad, India.

How does WarpSpeed Taxi plan to expand its services internationally?

The company plans to leverage local partnerships to customize its software and expand rapidly across global markets.

What are the financial implications of WarpSpeed Taxi's business model?

WarpSpeed Taxi retains 50% ownership in local ventures and charges a 2.5% licensing fee on gross revenues.

What are the risks associated with WarpSpeed Taxi's expansion?

There are risks related to the successful development, testing, and marketing of the application, as well as uncertainties regarding consumer adoption.

What is the goal of WarpSpeed Taxi in the next three years?

The company aims to expand its footprint into 90% of countries worldwide within 36 months.