London, England–(Newsfile Corp. – April 22, 2021) – Net Savings Link, Inc. (OTC Pink: NSAV), a cryptocurrency, blockchain and digital asset technology company, today announced that it has acquired a significant stake in New York City based Rideshare Platform, Rydehails LLC, marking the Company’s official entrance into the $75 billion Rideshare market. Rydehails’ Blockchain-Driven Payment Platform aims to revolutionize the ground transportation industry. With Rydehails, drivers can earn up to 35% more than their counterparts at Uber and Lyft. Rydehails uses smart technology to provide a customizable platform for each of its users, creating a network of businesses and service providers accessible to other businesses and customers. The Rydehails platform will have a digital wallet using NSAV’s STUX token as its cryptocurrency of choice, providing customers a more secure and efficient way to do business, with the opportunity for global access as the platform grows.
According to McKinsey research, rideshare providers have only tapped in to 29% of their potential market in the U.S. The ridesharing market in the U.S. has already exceeded $34 billion and $8 billion in New York City alone. Rydehails will have direct access to 60% of this market within 12 months and currently has access to over 120,000 New York City Taxi and Limousine Commission (TLC) licensed drivers. The management of NSAV believes that this acquisition will be a major step in fulfilling the Company’s ambition of being a leading player in the multi-billion dollar, blockchain, cryptocurrency and digital asset arenas. Under the terms of the agreement, NSAV has acquired a 20% shareholding in Rydehails and has an exclusive option to acquire an additional 10% stake.
The Rydehails Blockchain-Driven Platform offers an all-inclusive source for customers seeking a range of delivery services from: food delivery, standard passenger pickup, concierge service, wheelchair access and non-emergency medical transport, freight delivery, government long-term contracts, logistics and specialized transportation. Users on the platform can schedule customizable delivery and pickup trips as they do business within the platforms network. Privacy and protection, with lower transaction and trip fees, means a lower cost for goods and services for users purchasing through the Rydehails platform. The platform also allows registered users and drivers to manage their finances, process tax paperwork with registered tax agents, pay bills and send money to family abroad.
Silverbear Capital (SBC) acted as a consultant on the transaction and provided management advisory services.
SBC has a dynamic of disciplines on a broad commercial level and practice. SBC has a strong group of partners in a wide range of disciplines with seasoned experience in finance, management, and professional practice.
The management of Rydehails released the following statement, “The Rydehails team would like to thank NSAV and Silverbear Capital for facilitating this partnership. This is the beginning of a new frontier for the ground transportation and professional driving community. Our objective at Rydehails, has always been to form relationships that maximize our impact in changing the status quo within local communities that can easily translate on a global scale as we grow. We anticipate our future launch and working alongside NSAV and VirtuaBroker, to present a platform that ultimately provides jobs, promotes business and gives our users greater financial control. Silverbear Capital is truly, professional and we appreciate all of the hard work they have put in.”
James Tilton, president of NSAV stated, “We are pleased to be able to announce the acquisition of such a significant stake in Rydehails, along with the option to acquire an even more significant stake. This acquisition, coming on the heels of the recently completed VirtuaBroker transaction, proves to our loyal NSAV shareholders and the global markets, that we are a force to be reckoned with in the cryptocurrency, blockchain and digital asset sectors. I can assure all our loyal NSAV shareholders that we are already working on further acquisitions, strategic investments and partnerships and that the best is yet to come. I would like to thank our newest partners at Rydehails and of course, the amazing team at Silverbear Capital, for making this deal possible.”
NSAV’s vision is the establishment of a fully integrated technology company that provides turnkey technological solutions to the cryptocurrency, blockchain and digital asset industries. Over time, the Company plans to provide a wide range of services such as software solutions, e-commerce, advisory services, financial services and information technology.
For further information please contact NSAV at [email protected].
The NSAV Twitter account can be accessed at https://twitter.com/nsavtech.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Net Savings Link, Inc. to accomplish its stated plan of business. Net Savings Link, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward- looking statements included herein, the inclusion of such information should not be regarded as a representation by Net Savings Link, Inc. or any other person.
Net Savings Link, Inc.
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