YayYo, an American IPO, has launched a car sharing service with peer-to-peer functionality. This service, ridesharerental.com, will allow users to rent cars from YayYo’s fleet, giving customers a new option.
YayYo’s fleet is not the only group of cars available, however. Other groups and services can lend their cars to customers through YayYo’s peer-to-peer functions. These cars can even be used for ridesharing work, so those who cannot apply to Uber or Lyft can use YayYo’s cars to make money.
“Putting the cars on our own platform increased our revenue per car by almost 40%. This is a significant milestone for our company. Our strategy for YayYo is working and we are building value for our shareholders,” said Ramy El-Batrawi, CEO.
YayYo has also announced plans to be listed on the NASDAQ in the coming months, should their business continue to grow.