BEVERLY HILLS, CA / ACCESSWIRE / November 25, 2019 / YayYo, Inc. ("YayYo" or "the Company") (NASDAQ:YAYO), a leading provider of vehicles to the rideshare industry, through its wholly-owned subsidiary, Rideshare Car Rentals, LLC, bridging the gap between rideshare drivers needing a quality vehicle and rideshare companies that depend on attracting and keeping drivers, today announced the acquisition of a significant Line of Credit with United MileFleet of Florida.
United MileFleet has issued an initial Line of Credit, allowing YayYo to rapidly expand the company's growing fleet of vehicles. The first 100 cars will be on the road and serving key markets by the end of the month. The vehicles will be rapidly deployed to meet the immediate needs of additional rideshare vehicles and drivers in Chicago, Las Angeles, Oakland, Seattle and Las Vegas.
Jon Rosen, Chief Executive Officer of YayYo, stated, "The team at YayYo will rapidly deploy these new vehicles into five major target market cities, where we continue to strategically expand our presence. We are expanding our West Coast footprint, where demand for rideshare drivers and first rate vehicles continues to outpace availability. Additionally, we'll allocate a portion of our new vehicles in Chicago, as we enter the holiday season and demand for ridesharing increases substantially. We appreciate the resources United MileFleet provides YayYo, and are excited to continue to establish YayYo in these key markets and provide opportunities for new divers and consumers."
About YayYo, Inc.
YayYo bridges the gap between rideshare drivers needing a suitable vehicle and rideshare companies that depend on attracting and keeping drivers with quality vehicles. YayYo uniquely supports drivers in both the higher and lower economic categories with innovative policies and programs. YayYo seeks to become the preeminent provider of rental vehicles to drivers in the ever-expanding ridesharing economy.
About United MileFleet
In 2018 United Rental Group and MileFleet got together and now work under one brand. United MileFleet now provides cars and commercial vehicles to over 250 rental companies right across the United States. We can offer our partners both lease and purchase deals on a wide range of brands as well as exclusive access to a growing number of products and services on exclusive terms to help run your business.
Our Partner Program is about strength in numbers, delivering to independent operators the advantages of much larger businesses. It provides access to information and knowledge of our combined teams and brings a sense of shared purpose and community.
Forward-Looking Statement Disclaimer
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the company cautions investors that actual results may differ materially from the anticipated results.
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SOURCE: YayYo Inc.