Last Mile Holdings' Gotcha Mobility Continues to See Strong Ridership and Expansion in New Markets Throughout the Summer Months
Heavy Adoption in Newly Launched Markets and Increased Usage of Cruiser Product Drive Ongoing Performance Improvements
VANCOUVER, BC, Aug. 4, 2020 /CNW/ - Last Mile Holdings Ltd. ("MILE" or the "Company") (TSXV: MILE) (OTC: AZNVF), a leading micro-mobility company with the broadest product suite in the industry, today provided its latest update highlighting certain key performance indicators ("KPIs") and new market launches driving the success and significant growth in its recently acquired and now fully integrated operating subsidiary, Gotcha Mobility ("Gotcha"). The Company's announcement is a further update to prior press releases originally issued on June 17, 2020 and July 6, 2020, respectively.
Strong performance within the expanding Gotcha ecosystem and expected continued growth is being driven in large part by the following highlights:
Throughout the ongoing COVID-19 pandemic, Gotcha has been coordinating efforts with university and municipal partners to keep its products on the streets and provide riders a socially-distant transporttion alternative. With many universities anticipating various level of student attendance in the fall of this year, Gotcha expects to record increased usage within many of its current 30 university locations, including its upcoming re-launch at Michigan State University.
"During a time when there has been so much upheaval in the marketplace and the broader economy, we have generated consistent and improving results in many markets and across all offerings," said MILE CEO Max Smith. "Our multi-modal approach to transportation solutions as well as our highly-targeted go-to-market strategy continues to prove itself as a superior long-term, fiscally responsible growth plan. With certain student populations slated to return to some of our larger existing markets this fall, we are conservatively monitoring usage rate and are optimistic that ridership levels have significant room for even further improvement in the months ahead as we can provide our riders with a socially-distant and safe way to get around campus."
For more information on Last Mile Holdings, visit lastmile-holdings.com.
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SOURCE Last Mile Holdings Ltd.
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