YOLO sets out!
As a mobile app that provides VIP in-city transportation services aboard luxury-segment vehicles, YOLO is a bold challenger that promises a business model and earnings potential that are quite different to those of its competitors. Originally planned to be a version of the mobility-as-a-service app known as the “Uber model” throughout the world, YOLO emerged after a lengthy R&D process.
The most important feature that makes YOLO so different to similar mobility-as-a-service providers elsewhere in the world is the solidity of its legal underpinnings in Turkey and the variety of earning models that it offers. YOLO will soon be setting out with a next-generation business model attractive to both its users and its business partners.
The strength of the investor and management team headed by Haydar Çolakoğlu, who holds seats on the boards of YOLO, TEB Holding, and the Çolakoğlu Group, is also noteworthy. The end result of a year’s efforts on the part of a 12-member management team, YOLO plans to breathe new life into in-city mobility.
Haydar Çolakoğlu: “YOLO’s going to be a global brand.”
Noting that the company’s goal was to overcome the challenges of in-city transportation under conditions of great enjoyment and comfort, YOLO CEO Haydar Çolakoğlu said on behalf of the YOLO team:
“In-city mobility is a basic need in today’s world and our starting point is that moving about in a city should be fast, safe, and affordable. In addition to that, a great deal of urban transportation is still in the informal economy. At a time when we’re becoming accustomed to “new normals”, it’s very important to us that this too should change, that a legal framework for such an industry be strengthened and that the industry’s activities be subject to tax. Effectively and productively integrating technology into this business will have significant benefits both for our users and for our business partners.”
“YOLO is an entirely home-grown app. One of our goals is to quickly make its business model a brand that’s also used elsewhere in the world. That is YOLO’s fundamental philosophy.
“In addition to the support provided by our own founding partners, we also received some funding from a Los Angeles-based investment company that valued the venture at 16 million dollars when it was still in its infancy. On the basis of our discussions with the firm, we decided to call the startup “YOLO”, which is an acronym for “You Only Live Once”. At this time we’re still engaging in discussions with other investor groups based in Los Angeles, San Francisco, London, and Zurich. The strength of this collaborative platform will enable us not only to rival Uber but also create a global brand whose birthplace is Turkey.”
