Symbol: WBSI
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 (
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 ( 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 ( 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
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 (
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 (
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 ( 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
