YayYo was originally organised enso develop a cost comparison app with various features for the ride-sharing industry, and continues to develop apps. We then created the ride share platform Ride YayYo for use in Los Angeles, and found that huge demand exists for cars that qualify for Uber and Lyft. Ride share drivers cannot get these cars quickly enough, and many don’t qualify for car loans. These drivers can afford to rent cars, so that’s what we do.
Our main line of business today is purchasing new cars and making them available as rental cars to ride share drivers. In order to be very successful in this key business, YayYo purchases only cars that meet the stringent requirements that Uber and Lyft impose on ride share drivers – sedans or SUVs with various contemporary features. There is currently a deficit of tens of thousands of qualifying cars in several major markets for drivers who are ready to work as soon as they can get into such a car.
Tens of thousands of Uber and Lyft drivers who are otherwise fully qualified to drive for these services have no qualifying car with which to earn. One solution YayYo is pursuing is to purchase new vehicles and rent them out to ride share drivers.
A second, less optimal solution, has been to get car and fleet owners to make their vehicles available on a car sharing basis. Unfortunately, the supply of cars owned by people or companies willing to put their cars to work with ride share drivers has been limited.
YayYo’s Solution: YayYo solves these problems by purchasing new cars and renting them to ride share drivers, For car-sharing, the vehicle pick-
up and drop-off would all be managed through YayYo’s website and mobile app. Our staff take pictures of our vehicle prior to pressing the “Confirm Pick-up” button on the YayYo app. After the rental is completed, our staff member presses the “Confirm Drop-off” button on their YayYo app and the rental ends.
As a result of our need to provide high quality customer service, and as one of our first business opportunities, YayYo has developed expert teams for developing smart device apps. We believe that users of smart phones, tablets, and similar devices represent the best educated, highest earning, and therefore most interesting customers in the world.
We also limit risk by using Sterling Talent Solutions for background checks, the same vendor used by Lyft. We use GPS telematics that allows us to securely and continuously monitor our vehicles locations, with advanced web-based analytics and engine diagnostics to ensure that all of our vehicles on the road are operating at their optimum performance levels. GPS telematics provides a blanket of security to both our drivers and each of our customers. Yayyo will uses Relevant-Automated Driver Training which ensures that drivers are the safest on the road by utilizing the GPS Telematics data related to driving behavior (speeding, distracted driving, reckless driving, etc.) and electronically issuing drivers training specific to their area of needed improvement.