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Facedrive Inc. ("Facedrive" or the "Company") (TSXV:FD) (OTCQX:FDVRF), a Canadian "people-and-planet first" tech ecosystem, is pleased to announce that its food delivery vertical Facedrive Foods is steadily growing with total customer delivery orders exceeding 5,000 per day during mid-April 2021, demonstrating a 5% month-over-month growth since February 2021. Restaurant partners are now nearing 5,000, with over 6,800 drivers and 280,000 active users registered on a platform that is operational in 19 cities across Canada. Service areas now include Toronto, Montreal, Ottawa, Winnipeg, Kingston, London, Edmonton, Halifax and other locations. In several markets, Facedrive has recently added multiethnic delivery services, which has significantly contributed to achieving these growth results. For example, in London, ON, order count had increased by 392% within just three weeks of the multiethnic deliveries launch, and in Scarborough, ON, it has grown by 118% over the month of March.
Facedrive Foods continues to capitalize on the shift in commerce patterns and consumer behavior that has taken place during the pandemic. As store fronts and restaurants in many regions continue to limit their offerings to take out and delivery services, volumes of orders made through online on-demand food delivery platforms continue on a growth trajectory. At the same time, consumers are increasingly demanding that companies do business in an environmentally and socially responsible manner. The tandem of these two trends has played strongly into the Facedrive Foods’ playbook and growth strategy. In addition, the ethnically diverse North American market continues to demonstrate increasing demand for national cuisines, adding to the positive factors that provide a strong tail-wind for Facedrive Foods.
Furthermore, Facedrive Foods continues growing its grocery delivery service connecting multiethnic supermarkets and convenience stores with the end customer. Another popular and key differentiating feature is its increasingly extended delivery radius, which enables service access for residents in remote areas who often find themselves underserved by conventional providers. In order to meet growing demand for these various responsible food delivery services, the platform has developed ambitious additional service extension and geographical expansion plans which will be announced shortly.
Facedrive Foods prides itself on supporting local businesses, as well as women-owned and minority-owned businesses. Through its social and marketing campaigns, Facedrive Foods helps such businesses raise awareness about challenges that still exist in the industry and share success stories to enable entrepreneurs to reach wider audiences and empower them to dream big. For example, in the month of March, Facedrive Foods prepared a campaign dedicated to women in the restaurant industry in conjunction with celebrations of International Women’s Day.
"It is an honor for us to be connecting an increasing number of restaurant partners with our growing user base. We encourage our customers to stay tuned for upcoming announcements of new partnerships and service areas. Just like before, all our offerings will continue to be centered around the safety and well-being of our customers and driver partners, and will be offered in the spirit of supporting local businesses and giving back to the community," said Di Han, General Manager of Facedrive Foods.
Facedrive is a multi-faceted "people-and-planet first" tech ecosystem offering socially-responsible services to local communities with a strong commitment to doing business fairly, equitably and sustainably. As part of this commitment, Facedrive’s vision is to fulfil its mandate through a number of products and offerings that either leverage existing technologies of the Company or project synergies with existing lines of business (the "Facedrive Offerings"). These services and offerings include: an eco-friendly rideshare business ("Facedrive Rideshare"); a food-delivery business ("Facedrive Foods"); a contact-tracing and health services business ("Facedrive Health"); an e-commerce business ("Facedrive Marketplace"); and an e-social platform ("Facedrive Social").
Facedrive Rideshare was among the first to offer a wide variety of environmentally and socially responsible solutions in the Transportation as a Service (TaaS) sector, where the Company competes head-to-head with a number of established competitors. However, Facedrive has created a unique niche in such sector, as the Company offers its riders something different among competitors – the opportunity to mitigate the carbon footprint of their ride with carbon offsets. Facedrive Rideshare incentivizes drivers and passengers to choose a green alternative, thereby promoting the use of electric and hybrid vehicles and ultimately reducing carbon emissions. Facedrive Foods is a food delivery platform that connects residents, restaurants (local, ethnic restaurants in particular) and driver partners. Facedrive Health develops connected health technology solutions to help solve some of the pressing healthcare issues that communities face, including providing individuals with the ability to more easily comply with pandemic-related safety protocols. Facedrive Health’s first product, TraceSCAN, is an artificial-intelligence ("AI") enhanced wearable contact tracing solution that has been developed by the Company and the University of Waterloo. TraceSCAN tracks exposure to COVID-19 without the need for GPS information. Facedrive Marketplace is an online socially-conscious store that offers goods and merchandise for sale. The items that are selected for sale on the online marketplace are eco-friendly and/or sustainably manufactured and their sales are linked to support for social causes. Facedrive Social strives to keep people connected in a physically-distanced world through its HiQ Social App, which is an e-socialization platform that allows users to interact with each other based on common interests and by offering gamification and mutual community support features.
For more about Facedrive, visit www.facedrive.com.
100 Consilium Pl, Unit 104, Scarborough, ON, Canada M1H 3E3
Certain information in this press release contains forward-looking information. This information is based on management’s reasonable assumptions and beliefs in light of the information currently available to us and are made as of the date of this press release. Actual results and the timing of events, such as those pertaining to the expected continued growth of the business activities of Facedrive Foods, may differ materially from those anticipated in the forward-looking information as a result of various factors. Similarly, while the Company intends to continue its efforts to grow the business as noted above, there can be no assurance that such expansion can continue at the same pace. There is also not necessarily a direct correlation between users, orders and revenue. Information regarding our expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate is forward-looking information. Statements containing forward-looking information are not facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances. Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements.
See "Forward-Looking Information" and "Risk Factors" in the Corporation’s Filing Statement dated August 28, 2019 for a discussion of the uncertainties, risks and assumptions associated with these statements. Readers are urged to consider the uncertainties, risks and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information. We have no intention and undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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