WBSI - WebSafety Confirms $150 Million DriveSafety App Potential Annual Revenue Model
January 30 2020 - 12:00PM
InvestorsHub NewsWire
LAS VEGAS, LV -- January 30, 2020 -- InvestorsHub
NewsWire -- WebSafety, Inc. (www.websafety.com) (OTCMarkets:
WBSI) WebSafety today confirmed the DriveSafety App potential
revenue model in the management update released earlier this week
demonstrating a $15 million to $150
million annual revenue opportunity. On Tuesday this week
CEO Rowland W. Day II published a strategic update
covering the company's forthcoming launch of its DriveSafety
App. The launch is anticipated next month. The update
is included here again in its entirety below and includes a product
overview and an overview of the company's primary and secondary
revenue strategies. The estimated societal damage resulting
from texting and driving is $129
billion annually including, among other costs,
property damage and the expenses associated with personal injuries
and more than 4,000 annual texting and driving fatalities.
Read below about the strategy to generate recurring revenue from
the 250 million drivers in the U.S. and 1.2 Billion drivers
worldwide, and the secondary revenue strategy to potentially
generate revenue from any infringement of WebSafety's eight (8)
U.S. Patents backing its DriveSafety App.
1. Product
Overview
Distracted Driving is the number one bad driving habit to
eliminate loss of life and injury and make our highways
and roads safer. DriveSafety is the perfect solution to improve
your driving, protect you and your passengers' lives and those
on the road.
Device Lock
Start driving and your device will lock automatically to prevent
distracted driving. DriveSafety's driving detection algorithm
uses a combination of accelerometer, gyroscope and GPS data to
provide an accurate method of determining if you are in a moving
vehicle. The device will remain locked for the duration of the
drive to prevent the temptation to send and receive text messages
and other distracting alerts. The device remains locked even while
stopped at an intersection with our default settings.
Behavior Tracking
Every millisecond of your trip is analyzed to build a record of
events which indicate when the driver is distracted. Using a
combination of gps data, accelerometer, gyroscope and road data,
DriveSafety can determine when a driver is driving at excessive
speeds or even exceeding the speed limit on a street. One of
the most common reactions when a driver is distracted is that they
have to apply the brake without warning. This results in a
significant reduction in speed over a short period of time.
DriveSafety calls this hard braking and we track these events.
Historical Picture
Each trip is added to the log to easily review and share driving
history. Key data from trips are displayed side-by-side including
the date, time, distance and distracted driving event counts.
The Trips screen serves as the main screen of the app to keep your
trip history at the top of your mind. See a map of the trip route
and easily share your trip with friends and invite them to join the
app. Trip History is limited to 5 days of storage unless
unlocked with our premium subscription - providing unlimited trip
history.
2. Primary Revenue
Model
The primary revenue opportunity for WBSI is to strategical generate
recurring revenue from the 250 million drivers in the U.S. and 1.2
Billion drivers worldwide. The DriveSafety App features
described above intuitively provide multiple solution opportunities
to create a safer driving environment free from the distractions of
texting and driving in addition to the other safety features.
The challenge is to get consumers to engage the DriveSafety App and
foot the bill. Drivers are already required to foot the bill
for insurance. The DriveSafety App has the potential to
substantially reduce the number of accident payouts made by
insurance companies to insurance policy holders. That savings
to insurance companies can be passed on to insurance policy holders
through reduced insurance premiums. A small recurring fee for
the DriveSafety App service can generate a much, much larger
savings for insurance companies and in turn, insurance policy
holders. For an example of what that might look like,
consider the DriveSafety App being utilized by only 0.1% of U.S.
drivers. That approximately equates to 250 thousand
drivers. If the fee for use of the DriveSafety App
was $5 per month, that would translate into $15
million in annual service fees. A 1% penetration in the
U.S. would equate to 2.5 million drivers and $150
million in annual service fees.
3. Secondary Revenue
Model
With the economic opportunity described in the primary revenue
model above, there will no doubt be competitors pursuing this
market space. The DriveSafety App and the opportunity for the
DriveSafety App was not developed overnight. The DriveSafety
App strategy has been methodically developed over a considerable
period of time. In so doing, the DriveSafety App is backed by
eight (8) U.S. Patents. Inadvertently or purposely,
competitors are bound to infringe on the DriveSafety App
patents. Such infringement has the potential to generate
income for WBSI through settlements of the infringements.
Such income can be a simple damage payment or an ongoing royalty
payment and even the opportunity for WBSI to takeover a
competitor. WBSI will aggressively protect its intellectual
property behind the DriveSafety App. In addition to the existing
eight (8) U.S. Patents, WBSI has two (2) foreign patents and more
pending which means the secondary revenue model is global, and not
just limited to the U.S.
To learn more about the DriveSafety App and to keep up with the
latest developments check back regularly on the DriveSafety App
website: https://www.drivesafetyapp.com/
About WebSafety
WebSafety is a software company that has created mobile apps for
the Android and iOS mobile operating systems. The WebSafety
app allows parents to monitor questionable and potentially harmful
content or a direct predatory exchange that occurs on their child's
mobile device. The WebSafety app monitors downloaded apps,
websites visited, social media, GPS tracking, allows curfew
blocking, and provides real time notifications to the parent.
The parent uses a real time dashboard on their desktop, laptop or
mobile device to stay informed of their child's activities.
The DriveSafety app disables the mobile device from texting
and performing other related distractions while driving a
vehicle. The DriveSafety app also supplies driving telematics
to the driver or additional concerned parties in order to create a
safer driving experience for those in the vehicle and for those on
the highways and roads.
For more information, please contact:
WebSafety, Inc.
Rowland W. Day II
Tel: +1-949-350-6500
Email: rday@websafety.com
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