Newly launched Facedrive has emerged as the latest threat to the struggling Uber and Lyft brands as the trillion-dollar personal auto industry churns into overdrive.
Launched in 2019 in Canada’s Silicon Valley, Facedrive is reported to be in lockstep with emerging brands Tesla and BlackRock and their “impact investing” takeover of Wall Street. In existence for less than two years, the company is now touted as “leading the evolution of shared mobility–from EV and carbon-offset ride-sharing to acquisition-hungry food delivery, healthcare services and even COVID tracing tech.”
Armed with the latest technology, the company has launched multiple revenue streams that take advantage of the rider relationship. It recently earned a government endorsement for it high-tech COVID tracing.
An article from Oilprice.com on PR Newswire recently listed five reasons to keep close eye on the company as it furthers charts it ascension, among them its pattern of sustainable investment and relationship with Blackrock, which recently replaced Goldman Sachs as "the most important banking company in the world" and its launch of TraceSCAN, a homegrown Canadian COVID-19 racing solution that features Bluetooth wearable tech integration.
Other developments of interest include the company’s foray into the world of food delivery with its recent acquisition of Postmates, its growing outreach to millennials as a brand that’s morphed into a lifestyle and growing affinity for its widening “people and planet first” business model.
Founded in 1988, Blackrock’s stock is up over 2,000% over the last two decades, with the dividends jumping from 20 cents to $3.63 as of late May of his year. According to Yahoo, its price-to-earnings ratio of 18.85 is nearly double that of big banks like Goldman and JPMorgan Chase.
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