NEW YORK, NY -- (Marketwired) -- 06/11/14 -- World Moto, Inc. (OTCBB: FARE) (OTCQB: FARE) (BERLIN: WM7) (BERLIN: A1J8SY) ("World Moto" or the "Company") is pleased to announce that it has signed a letter of intent with Forever Network Co., Ltd. to establish a joint venture with exclusive media advertising rights for Wheelies™ in Thailand. The agreement is for one year and subject to certain terms and conditions. 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™, Wheelies™, and Yes™.
Forever Network is the largest business of its kind in Thailand, specializing in LED and LCD displays for commercial advertising, interactive multimedia, trade shows and special event presentations. Forever Network has a large portfolio of clients that include Mercedes-Benz, Porsche, Suzuki, Toyota, Yamaha, as well as various Thai TV networks, trade organizations and exhibition halls. Forever Network also organizes major broadcast events such as Fashion Runway shows and Thai Super Model competitions. More information may be found at http://www.forever-network.com.
Forever Network will provide the sales and marketing of third party advertising campaigns, and supply such items as the motorcycles, creative designs and customer support. World Moto will supply the Wheelies™ technology and maintenance. World Moto has currently built 10 Wheelies™ for the first 10 motorcycles, which are expected by mid July 2014. World Moto will continue building additional Wheelies™ as media campaigns are launched and expanded throughout Thailand. Forever Network anticipates the need for up to 200 Wheelies™ in the next 12 months.
World Moto will receive 45% of all profits from the joint venture. The Company intends to replicate this model in many other regions around the world.
Global Advertising Industry
Wheelies™ are a new entrant into the global advertising industry worth over $500 billion annually. Outdoor display-type advertising is one of the fastest growing segments of the advertising industry, and World Moto believes that Wheelies™' obvious appeal will result in considerable demand and significant revenue.
About Wheelies™
Wheelies™ display static and streaming media content on the wheels of motorcycles and automobiles, providing a unique and beautiful new mobile medium for advertising, broadcasting, self-expression and publishing. The technology has the potential to turn essentially any wheel in the world into a brilliant, full color billboard or video screen. All digital content, including ads and videos, can be sequenced and triggered at a specific time, location, or manually under the command of an operator -- these features give Wheelies™ the ability to serve up highly targeted advertisements to different demographics.
For advertisers, Wheelies™ are a high impact medium for showcasing brands and businesses to new customers in locations of mass consumer exposure with the ability to target up to 400,000 people a day, per motorcycle.
Preecha Siriboonsong, CEO of Forever Network, commented, "A new advertising medium doesn't come along every day and we're excited to be a part of it."
Paul Giles, CEO of World Moto, commented, "We are excited about the opportunity to work with such a well established company in the industry and anticipate that this will serve as a model to expand throughout the world."
About World Moto
World Moto, Inc. is the global authority on the $500 billion a year motorcycle taxi industry and creator of the Moto-Meter™, Wheelies™, and Yes™.
Products/Services:
The Moto-Meter™ is 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."
Wheelies™ [See above for description]. According to Fast Company, Wheelies™ "invents a new kind of screen -- and one that's potentially ubiquitous...It's best seen to be believed."
Yes™ - Your Personal Convenience Store -- Delivery in 15 minutes or less -- Popular food, snacks, beverages, household supplies, personal care, healthcare, and pet foods. Want it now? Yes™.
Videos:
World Moto's YouTube Video Channel: http://www.youtube.com/user/worldmoto
To find out more about World Moto, Inc. (OTCBB: FARE) (OTCQB: FARE) (BERLIN: WM7) (BERLIN: A1J8SY), please visit:
Website: http://www.worldmoto.com
Facebook: http://www.facebook.com/worldmoto
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, use of proceeds and size of market for Moto-Meter. 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.
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