Gotcha Mobility's Q1 Growth Provides Solid Foundation for 2020
Gotcha Mobility's Q1 Growth Provides Solid Foundation for 2020 |
[06-April-2020] |
Last Mile Holdings Portfolio Poised to Thrive Amidst Coronavirus Uncertainty CHARLESTON, SC, April 6, 2020 /PRNewswire/ - Gotcha Mobility, LLC ("Gotcha"), a subsidiary of Last Mile Holdings Ltd. ("MILE") (TSXV: MILE; OTC: AZNVF), announced today its first quarter results. The company officially merged with Last Mile Holdings Ltd., making it one of the largest micro-mobility companies in the United States. Amidst the coronavirus pandemic, Gotcha developed a new extension of its business offering its vehicles to local restaurants and grocery stores for take-out orders and light groceries. Local businesses can rent Gotcha's mobility products at a discounted rate to increase delivery efficiency while reducing overall delivery costs and employee layoffs. "During an 8-month pilot program with one of the largest food delivery app companies last year, we learned that food deliveries on our sit down scooter were over 30% more efficient than single occupancy cars," said Max Smith, Chief Executive Officer of Last Mile Holdings. "We see last mile deliveries of food and packages as a significant growth opportunity for Gotcha Mobility." While other micro-transit operators are retreating, Gotcha plans to continue to operate its shared mobility systems for essential travel as long as they're allowed. Gotcha has implemented enhanced CDC cleaning protocols to help protect its riders and employees during COVID-19. Gotcha's vehicles are considered a form of public transportation by Homeland Security and will continue to remain open for its riders. "We are seeing an increase in ridership which clearly shows the strength of our micro-mobility business," said Sean Flood, Chief Executive Officer of Gotcha. "We are so glad our riders are committed to sustainable transportation when they need it and look forward to expanding our shared systems and product offerings across the country." Gotcha's partnership-first approach in exclusive markets has led the company to build positive city and university relationships. These partners have helped spread the word of Gotcha's new delivery service and made introductions to local businesses. Gotcha is also in direct communication with each partner on the wants and needs of their ride share systems during this time. In the first quarter of 2020, Gotcha launched e-mobility systems at University of Georgia (bike share) in January, University of North Carolina at Charlotte (scooter share) in March, and City of Durham (scooter share) in March. More than 100,000 trips were taken on Gotcha products nationwide during Q1. Gotcha continues to forge ahead preparing for upcoming system launches and targeting new, exclusive markets. The company is developing site plans, planning marketing campaigns, designing new products, and remains in contact with partners. Gotcha remains focused on positive unit economics by ensuring each of its markets are profitable and its products are meeting and exceeding targeted utilization goals. For more information on Gotcha, visit ridegotcha.com. ABOUT GOTCHA Follow us on social: ABOUT LAST MILE HOLDINGS Cautionary Statement Regarding Forward-Looking Information Reader Advisory View original content to download multimedia:http://www.prnewswire.com/news-releases/gotcha-mobilitys-q1-growth-provides-solid-foundation-for-2020-301035960.html SOURCE Gotcha Mobility | ||
Company Codes: OTC-PINK:AZNVF, TorontoVE:MILE |
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