Brooklyn, NY, November 6, 2014 - TGI SOLAR POWER GROUP INC. (PINKSHEETS: TSPG) a diversified technology company, announced launching of Citi Scooter Inc., to manage CitiScooter.com, NYC based "Shared Ride" business and mobile applications associated with it. The transaction is subject to customary due diligence.
The TSPG management team is devising a detailed operating model for the business, developing future sites, locations, reviewing statistics, logistics and human resources. Company plans to hire additional personnel to assist with such undertakings.
In phase one for launch the CitiScooter mobile app allows club members/users to register, locate, reserve, pop open the trunk to get helmets, unlock and start scooters all from their smartphone. Users can sign up and login into the app using their Facebook page to make for a fast and easy user experience. From the App club members/users can verify their drivers license and enter a credit card for payment. In phase 2 the CitiScooter Mobile App goes even further to include GPS turn by turn directions, entertainment, chat and messaging to help keep your CitiScooter Club "social circles" or groups (this part of the app will be automatically disabled while riding the scooter) in the loop with a full suite of free tools. The private social networking App, proposed name Citi Scooter Club allows for traditional posting and chat for groups, as well as group polling, community calendars, file sharing and photo albums and will interface with Facebook, Twitter and Instigram. In addition to that users also have the ability to access the app from their desktop (being developed). App will provide the tools for people to communicate as they would in real life, within small groups, rather than an auditorium-like setting such as other large social networks. Club will also provide various savings programs to its members for deals on scooters, travel, shopping and entertainment.
Consumers are growing tired of big social media – from over sharing "friends," privacy/security concerns and personal data being sold – to not feeling they can express themselves freely or being barraged by info. CitiScooter is interested in consumer's shifted behaviors towards more private group sharing common interests that better mirror how people socialize offline.
"The Shared Ride" industry has seen rapid growth in the last few years. As urban dwellers seek alternatives to the expense and inconvenience of out right vehicle ownership and other forms of pubic transportation. The use of shared bikes and cars have seen meteoric growth. Look no further than companies such as Rent the Runway, Cars2Go, Zipcar, Uber, Lyft and CitiBike to see this industry model showing tremendous traction, In Addition to the revenue from the customers, advertising sponsorship has stepped up from major financial institutions to other fortune 1000 consumer based corporations. This sector has tremendous growth potential and significant room for more players.
The RIDE SHARING can be broken down into to subsectors Taxi Alternatives and Car Sharing.
The two leading players in the TAXI ALTERNATIVE sector are UBER and LYFT. Recent report indicates tremendous revenues growth and remarkable valuation increases. Uber, Inc. the taxi replacement service is operating in 98 US cities and 44 countries, They have raised over $1.6 billion and achieved a recent valuation in excess of $18 bln. The company has seen tremendous growth since its inception. Recent valuation has increased over $13 billion and The top VC's and investment banking in silicon valley have participated in recent, including Google (GOOG), Black Rock, Kleiner Perkins and Menlo Ventures
Lyft is a much smaller competitor to UBER, operating in 64 US cities with no international operations. Recent valuation is over $700 mm having raised $333mm in financing.
The business model includes incorporating smartphone technology to locate the scooter, bill processing, advertising, brand building and marketing. This convergence of modern smart phone technology and an age old transportation concept of "shared rides" is a perfect combination to take advantage of consumers desires for cost effective, convenient solutions to the high cost and inconvenience of urban transportation. The convenience of temporary usage, no fuel cost, no insurance, expensive taxis, no maintenance or repairs, inconvenient public transportation, unavailable parking and massive parking fines and fees are compelling urbanites in droves to seek cost effective alternatives.
ABOUT CitiScooter LLC
CitiScooter is a shared transportation company offering Scooters by the hour from your smartphone. Locate, unlock, start and ride scooters without the hassle of owning with gasoline and Insurance included. CitiScooter gives you ability to get around the town with ease and without the hassle of trying to find parking. CitiScooter allows you to pick up a scooter at one location and drop off at another without additional charges. Pick up and drop off as many times as you want and only be charged for the time you are riding in thirty-minute intervals. CitiScooter is the smart and fun way to get around cities and college campuses at a minimal expense. For work or for play, CitiScooter is changing the way people commute!
For further info:
www.citiscooter.com
About TGI Solar
TGI SOLAR POWER GROUP INC. is a diversified holding company. TGI's strategy is to acquire new-patented technologies, components, processes, designs and methods with commercial value that will give market advantage and generate shareholder value.
Safe Harbor Statements under the Private Securities Litigation Reform Act of 1965: Those statements contained herein which are not historical are forward-looking statements, and as such, are subject to risks and uncertainties that could cause actual operating results to materially differ from those contained in the forward- looking statements. Such statements include, but are not limited to, certain delays that are beyond the company's control, with respect to market acceptance of new technologies, or product delays in the testing and evaluation of products, and other risks, as detailed in the company's periodic filings with the Securities and Exchange Commission.
For further info:
info@TGIpower.com
www.TGIPOWER.com