|By Marketwired .||
|December 28, 2012 04:16 PM EST||
BANGKOK, THAILAND -- (Marketwire) -- 12/28/12 -- World Moto, Inc. (OTCBB: FARE), (OTCQB: FARE), (Berlin: WM7), (Berlin: A1J8SY) ("World Moto" or the "Company") is pleased to announce that it has agreed to provide the Moto-Meter to Moto-City, the leading motorcycle taxi service in Madrid, Spain. 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.
Moto-City was established in 2009, offering Madrid a new alternative in urban transport. The idea came from other European capitals such as London and Paris, where this type of transport has been running successfully for years. In Paris alone, there are over 50 companies that offer a similar service with more than 500 bikes in operation. Moto-City offers an ideal solution to customers, often business men and women, who are looking for speed and punctuality in reaching their destination through heavily congested traffic conditions. Typically these trips are to airports, train stations and meetings; however tours around the city have also proven popular.
Full details about Moto-City can be found at their website: http://www.moto-city.es/
World Moto is very pleased to have secured this relationship with Moto-City and marks the Company's first move into Europe. Although the European market is small in comparison to those of Asia, Africa, and South America, the Company believes that it is poised for dramatic growth and by establishing an early presence World Moto gains the advantages typically afforded to first entrants. In addition, this presence in Europe places the Company firmly on four continents, while furthering World Moto's position as the global brand of the motorcycle taxi industry.
World Moto CEO Paul Giles stated "The traditional thought process is that Western companies look to the developing world to find virgin markets for maximum growth; however in this case it's actually Europe that is filling the role of an emerging market."
Watch the Moto-Meter in use on motorcycle taxis: http://www.worldmoto.com/videos.php
Fast Company declared it "The First Real Taxi Meter Innovation in 100 Years...a $3 billion dollar idea." (http://www.fastcompany.com/1725184/introducing-first-real-taxi-meter-innovation-100-years)
Watch Yes: http://www.worldmoto.com/yes.php
Visit our website at www.worldmoto.com.
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. 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.
World Moto, Inc.
Telephone: (646) 810-8781
For more information contact investor relations at Email Contact