"We're all about grabbing onto the biggest trends in tech before they're
mega-trends. So that takes us back to 2016, when we first came up with the
idea. Whenever a major new trend emerges, it's the job of the truly innovative
to step back and say 'OK, this is an explosively great idea - so what's wrong
with it?' When you figure that out, and you've got the right network and the
right people behind you, you can jump in on one of the biggest trends and
disrupt a massive market at exactly the right time," Navaratnam said.
Facedrive has already planted 3,500 trees and expects to have plant
~68,000 trees in 2020, while offsetting around 2.1 million kg of CO2.
And rides are on the steady upswing, with August-October 2019 alone
experiencing 76% growth:
The next big push comes in Q3-Q4 of this year, when Facedrive targets expansion
into U.S. and European markets.
The app itself is seamless, and not only makes it easy for riders to
choose--for the first time--whether they want an EV, a hybrid or a conventional
car; but it also lets them watch their carbon footprint being erased and keeps
track, live, of Facedrive's tree-planting operations.
And it's much more than just an eco-friendly way to ride-share--it's ethical in
more ways than one because the company recognizes that drivers are the key to
its success and its guiding principles include one very important aspect that
has been left out along the way: Drivers and their families deserve to earn
The app isn't just seamless for riders, it's seamless for drivers and offers
them platform choices that they've never had before.
Facedrive's reputation as an ethical, principle-driven company in a high-growth
space has already filled its partnership pipeline with some huge names,
including a deal with Canada's Tier-1 telecoms provider to give free phones and
major plan discounts to 'Facedrivers', and a deal with a Canadian commercial
But the pipeline is already much bigger than that:
Facedrive isn't just latching onto the explosive ride-sharing segment--it's
changing the model. And all that tree-planting that it's doing in Canada right
now is headed for the U.S. and European markets where a bigger population has
more people concerned about their own environmental impact.
Facedrive wanted to take something as simple as hailing a
ride and turn it into a collective force for change, and it's doing just that.
Technologies Inc. (NYSE: UBER)
The big story in tech last year was the Uber IPO-the ride-sharing app joined
the market with a tepid showing, and it hasn't done much business since.
It's the cherry on top of a cake of trouble for the revolutionary tech company,
which has suffered from a mountain of bad press. It's controversial CEO Travis
Kalanick was forced out over his behavior and the company's struggle to
generate revenue, but the new management hasn't been able to do much better.
Lyft may be a bit overvalued, but it's still sustainable.
Lyft went public in March for $87.24 and hit $88.60 on the first day of
It's shed over half that and has been treading water ever since. Lyft's next
earnings report is due on October 30th. But $36 makes this a cheap stock for a
ride-sharing market that's killing taxi cabs and cutting in on car sales, too.
Right now, Lyft is valued at 4x its sales, and it's still losing money-like
Uber. But it does have over $3 billion in cash, and it is investing in
micro-mobility, too, through bike-sharing startups.
While they err on the side of pricey, coming in at $3,800 per unit, they do
boast a high top speed and can travel a modest distance on a single charge.
The kicker for many, however, is that they can fold into an easily carriable
pack, making them the perfect choice for a lot of commuters. Especially in big
cities like London or Berlin.
(NYSE:F) is taking a different approach. It's swooped right
into the scooter market, buying Spin for a clean $100 million.
Initially deployed in San Francisco back in 2017, Spin is widely considered to
be a part of the Big Three of the scooter world, along with Lime and Bird.
While Ford's buyout of Spin made headlines, it's certainly not the first
urban transportation alternative Ford's sunk its teeth into.
In recent years, Ford also bought commuter shuttle service Chariot, Autonomic
and TransLoc, aiming to ensure that it does not miss the boat as this new
(NYSE:BIDU), for its part, is taking on the automated car
market. With more miles under its belt than any of its competitors in
Beijing, it's an easy choice for a number of investors.
Likewise, it has an equally large portfolio of innovative new technologyâ€¦at a
lower entry point than its competitors.
As the 'Chinese Google,' Baidu is following a similar path to its American
counterpart. It began as a search engine but is quickly expanding into almost
all things tech related.
From artificial intelligence to television and finance, Baidu's ever-expanding
reach is a not to be ignored. Especially for investors looking to stay on top
of the new tech trends.