WBSI - WebSafety Publishes CEO DriveSafety App Strategic Update With Revenue Overview
January 28 2020 - 10:18AM
InvestorsHub NewsWire
WBSI – WebSafety Publishes CEO
DriveSafety App Strategic Update With Revenue Overview
Las Vegas, NV --
January 28, 2020 -- InvestorsHub NewsWire -- WebSafety, Inc.
(www.websafety.com) (OTCMarkets:
WBSI) WebSafety today published a strategic update from the
company CEO, Rowland W. Day II, covering the company’s forthcoming
launch of its DriveSafety App. The update is included 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
creating 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 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/
For more
information, please contact:
WebSafety,
Inc.
Rowland W. Day
II
Tel:
949-350-6500
Email: rday@websafety.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.
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