LOS ANGELES – August 12, 2017 – YayYo, Inc., today announced it has formed a new rental division for the rideshare industry using previously announced delivery of its fleet of vehicles.
After a test of the market with the initial Hyundai vehicles delivered through SoCal Penske . YayYo continued to rent all the cars that came in from the initial purchase to drivers of other rideshare operators.
They were immediately rented out because of huge demand as vehicles, YayYo formed a subsidiary, Distinct Cars, LLC to expand it rental operation.
Laurie DiGiovanni who was originally hired as Head of Fleet Operations for YayYo’s rideshare services has been promoted to Chief Operating Officer and has joined the board of directors of YayYo, Inc.
DiGiovanni’s experience within the automotive industry, including project management and training positions with Toyota, Mazda, and Nissan, makes her the best choice to lead the rapidly growing Distinct Car Division as we focus the company to meet growth potential of that division.
YayYo’s initial plan was to rent excess vehicles to drivers of other ridesharing companies. After seeing the tremendous demand we have rented all our vehicles out to drivers and have ordered additional vehicles to meet the demand. Our lower cost of vehicles, through our purchase program through Hyundai, makes it a growing profit center for YayYo.
As the demand for short-term car rentals to rideshare drivers continuse to grow, the demand for new cars that are well maintained will continue to grow with it, as drivers seek a car presence and stability to ensure riders are satisfied with their ride experience.
“We are delighted to see that our initial thoughts after doing some research, that many drivers do not have vehicles to qualify to drive for the major rideshare companies. That demand is truly there said ” Ramy El-Batrawi, CEO “We are excited to see the kind of demand and potential profits of this division.”
Those interested in renting cars can email YayYo at info@yayYo.com
The Company was also recently qualified by the Securities and Exchange Commission for a Regulation A+ Initial Public Offering to raise gross proceeds of $50 million. Interested investors can purchase shares directly at www.YayYoIpo.com.