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Jayride unlocks global growth potential rollout complete, early results beat expectations

Jayride now has airport transfers coverage in all leading aviation markets – the Americas,  China, Europe, Russia, Asia and Oceania – accessing over 85% of global aviation passenger trips. 

Jayride Group Limited, the global online marketplace for airport transfers, announces that it has completed the foundation phase of its global transport strategy – securing a presence at 1500+ high-volume international airports around the world – and is moving into the growth and profit stage of its development.

Global Expansion Highlights

  •  Jayride now a world-first global airport transfers marketplace for travellers,
  •  Market access now 6.6 billion passenger trips, 85% of airport trips globally,
  •  Network covers 3,332 transport companies at 1,511 airports in 81 countries,
  •  High growth in new destinations with passenger trips booked up 70% Q4 vs Q3,
  •  Millions of price requests now going through platform per quarter,
  •  New business intelligence platform turns passenger data into insights,
  •  Strategy transitions to convert millions of price requests to bookings.

Jayride now has airport transfers coverage in all leading aviation markets – the Americas,  China, Europe, Russia, Asia and Oceania – accessing over 85% of global aviation passenger trips, a step change which is unlocking significant global demand for its airport transport operators.

All the elements are now in place – a robust technology platform, global footprint, world-leading number of transport companies – to scale Jayride’s revenue to profitability without the immediate need for further significant investment,” said Jayride Managing Director Rod Bishop.

In the past year Jayride has expanded its presence from five to 81 countries, diversifying revenue channel mix and accelerating revenue growth ahead of expectations.

Passenger trips booked in new countries increased by 70% quarter-over-quarter in Q4  compared to Q3.   

  •  Cohort Launched in Q1 FY19: Jayride launched six countries in Q1 FY19. Since launch Passenger Trips Booked in these countries have increased from 1,400 to 9,100, most recently growing over 100% in Q4 compared to Q3.
  •  Cohort Launched in Q2 FY19: Following the successful pilot, Jayride launched an additional 20 countries in Q2 FY19. Since launch, Passenger Trips Booked in these countries have grown from 4,200 to 19,200.

Top performing countries in the first two cohorts include Italy, Spain, France, Thailand and Indonesia and the feedback from transport companies using Jayride to market their services has been extremely positive. The other 50 countries launched in Q3 and Q4 are growing at a similar trajectory.

For example in Bali, one of the Company’s fastest-growing destinations, Jayride is now generating 50% per cent of total airport transfer bookings for leading local transport company Bali Fast Track.

Over the past 12 months, Jayride has increased the number of commercial agreements with transport companies from 2,000 to 3,332, more than any other airport transfers marketplace. Contracted agreements give Jayride a competitive advantage over other aggregators, who typically do not have direct relationships with most of their suppliers.

Move to capture accelerating demand
Following the global roll-out, Jayride is receiving a significant increase in passenger price requests as Flight Centre, Corporate Travel Management, Expedia, SkyScanner, Rome2Rio, NRMA and all other Jayride partners now have access to global airport transfers though Jayride.

To capture this accelerating demand, Jayride has deployed a custom-built business intelligence platform that turn millions of passenger price requests from raw data into actionable insights. Going forward, this will enable the Company to grow revenue from passenger trips without increasing its marketing spend.

We have laid all the technical foundations to collect and analyse our passenger data to scale faster and smarter,” said Bishop. “Matching supply to the existing demand is just one of the tactics we can use in order to achieve growth and profit going forward.”

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The company is pleased to report that in Q4 FY19 Jayride achieved its 24th consecutive quarter of revenue growth.

In achieving this, the company notes that key business performance metrics have also improved including Passenger Trips Booked, Net Revenue, Gross Profits after Paid Acquisition, and Net Cash Used in Operating Activities.

Further details will be disclosed in the Quarterly Business Review and Appendix 4C to be released by the end of July.

Atlas Advisors and Follow[the]Seed were the majority investors from the start and have majority holdings.

Atlas Advisors Executive Chairman of Atlas Advisors Guy Hedley said Atlas Advisors’ strong relationship with key specialists in venture capital such as Follow[the]Seed enabled it to access the best and brightest technology start-ups in the Australian market. 

“By combining our business intelligence and investment we are supporting the future leaders of the business world,” Mr Hedley said.

Mr Hedley said much of Jayride’s success so far has been the result of capital raising led by Follow[the]Seed and Atlas Advisors as one of its partners.

Jayride’s value has dramatically increased after the company achieved its ambition of a complete global expansion.

Mr Hedley said that the appetite for venture capital in Australia was strengthening with many foreign investors favouring the destination because of its transparency and tighter controls.

“Australia is a hub for some of the most promising yet under-appreciated ventures in technology, medicine and science in the world,” he said.

“Just as many of our clients amassed their fortune by being entrepreneurial, so too are they interested in building the next-generation of innovative global companies.”

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