SOURCE: World Moto, Inc.

December 17, 2012 16:05 ET

World Moto, Inc.: New Corporate Strategy to Change the Way the World Goes Around

BANGKOK, THAILAND--(Marketwire - Dec 17, 2012) - World Moto, Inc. (OTCBB: FARE) (OTCQB: FARE) (FRANKFURT WM7; WKN A1J8SY) ("World Moto" or the "Company") is pleased to announce the unveiling of the Company's strategy to roll out its revolutionary Moto-Meter and unique Yes service into untapped global markets. As part of this update the Company's website has been completely redesigned to reflect the exciting developments and progress being made by World Moto. Changing the way the world goes around, World Moto is a global authority on the $500 billion dollar a year motorcycle taxi industry and inventor of the Moto-Meter, the world's first motorcycle taxi meter.

Development of the Moto-Meter commenced in 2009 to professionalize the $500 billion dollar a year moto taxi industry. The Moto-Meter is the first taxi meter designed specifically for the huge motorcycle taxi market. Key features of the product include a device that is portable, tamperproof, ruggedized, insect resistant, and incorporates GPS and MEMS technology to calculate fares as well as serving as a black box that records important data such as speed, acceleration and braking information. The LED screen also displays "infotainment" and geographically-relevant ads (e.g., nearby shops and restaurants) for the duration of the ride. The ads can generate revenue for both the driver and World Moto. The Moto-Meter is patent-pending and its repurchase cycle is about 3 years; the device is now being prepared for large scale production to meet the massive global market needs.

Watch the Moto-Meter in use on motorcycle taxis:

Commercial development of Yes began in 2012 after more than 3 years of extensive research into the motorcycles taxis' role in local commerce, which included interviews and surveys of both motorcycle drivers and the consumers who hire them. This unparalleled visibility into the workings of the industry has allowed World Moto to create an exciting new service called "Yes." The service is constructed as a customer-centric electronic marketplace, offering popular services on-demand (e.g., mobility and delivery) via web, phone or phone application from anywhere, at any time. Use of Yes is effortless; a person can understand it immediately. Simply stated, Yes gives people what they need, when and where they need it. 

Watch Yes:

Having successfully raised sufficient funds in November through a private placement of ordinary shares, the Company has commenced targeting markets in Asia, Africa and Latin America. The Company is well advanced in the development of key relationships in a number of carefully selected countries in these target areas in preparation of launching an aggressive sales and marketing campaign. Primary focus is being given to locations with the highest concentrations of operators such as Bangkok, Thailand, a city that has more motorcycle taxis than there are taxicabs in the entire USA. Globally, over the last decade there has been a spectacular growth in the use of motorcycle taxis and according to the World Bank in 2011 "their number is expected to increase by more than 50 percent in the next 5 years."

The Company's independent research suggests that there are well over 20 million motorcycle taxis worldwide representing an enormous global market. The initial target markets will be Thailand, followed shortly by Indonesia, Brazil and Nigeria. These countries all contain cities which have very high numbers of motorcycle taxis. A prime example is Lagos, a city of more than 11 million people which currently has around 1 million motorcycle taxis representing a potential market for World Moto of over $150 million on Moto-Meter sales alone. Note that saturation of the Moto-Meter is projected to reach 100% within three years of introduction in any given market.

World Moto CEO Paul Giles stated, "It is almost inconceivable that an industry approaching 1% of the entire global GDP was still in search of a brand. Rarely in history has such a giant vacuum existed."

About World Moto

World Moto, Inc. is the global authority on the $500 billion dollar a year motorcycle taxi industry and creator of Yes, the "Need it Now!" service. World Moto has revolutionized the taxi industry by inventing the Moto-Meter, a landmark device that CNN, Newsweek, Wired, Moneylife, among others, are calling "the world's first motorcycle taxi meter" and "world's first portable taxi meter" and "first-ever black box for motorcycles," while the Times named it "one of the most significant innovations of this decade" and Fast Company declared it "The First Real Taxi Meter Innovation in 100 Years...a $3 billion dollar idea."

Watch Yes:

To find out more about World Moto, Inc. (OTCBB: FARE) (OTCQB: FARE) (FRANKFURT WM7; WKN A1J8SY), visit our website at Details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's EDGAR database.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, projections of worldwide sales of World Moto, Inc's products and global markets. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

For more information contact investor relations at

Contact Information

  • Contact:
    World Moto, Inc.
    Investor Relations
    (646) 810-8781