Tribal Rides International Corp. - Business Summary

Overview

• Type: Transportation technology company focused on autonomous vehicles and ridesharing.
• Incorporation: Nevada, May 19, 2014, originally as "Trimax Consulting, Inc."
• Name Changes:
  • 2017: changed to "Xinda International Corp."
  • 2021: changed to "Tribal Rides International Corp."

Business Activities

• Previous Business (Pre-2020):
  • Marketing property tax lien services such as auction identification, valuation, and advisory services to property tax lien investors.
• Current Business (Post-2020):
  • In research and development stage, working on disrupting current ridesharing paradigms.
  • Focused on autonomous vehicle technology with patented and patent-pending solutions related to AI, machine learning, and Smart Deployment algorithms.
  • Aims to create the future of personal mobility using autonomous vehicles within a comprehensive ecosystem.

Main Products & Services

• Developing a cloud-based SaaS social network and mobile app platform for transportation:
  • Features include:
    • User creation and management of personalized transportation experiences.
    • Formation and joining of groups for shared rides.
    • Cost-saving collaboration among users.
    • Scheduling and securing transportation services.
    • Conducting financial transactions within groups.
• Target Customers:
  • Estimated 10 to 14 million shared-ride drivers in the U.S. who could use the SaaS services.
  • Potential clients include ride-share drivers and companies moving towards autonomous vehicle fleets.

Market & Industry Data

• Autonomous Vehicles & Ridesharing Market:
  • Global autonomous vehicle market projected to surpass 54 million vehicles by 2024.
  • Predicted to grow an additional 60% between 2020-2024.
  • Expected revenue of $173 billion over the next three years, with autonomous ridesharing being the industry’s focus.
  • The autonomous vehicle industry forecasted to reach $2.195 billion by 2030.
  • Shared ride/taxi market:
    • $117 billion forecasted in 2021.
    • $220 billion projected by 2025.
    • International rideshare growth, with a CAGR of 16.6% from 2021 to 2026.
  • Ridesharing is a well-established, preferred transportation mode; autonomous vehicles expected to be ~15 times larger than the current ride-sharing market by 2030.

Environmental & Social Impact

• Aims to reduce urban congestion and emissions by deploying self-driving cars for carpooling.
• Total vehicles on roads may decrease due to optimized demand prediction and deployment algorithms.
• Seeks to promote community engagement and financial incentives for users, developers, and vendors.

Market Position & Competition

• Competes primarily with existing ridesharing giants like Uber and Lyft.
• Has patented AI and "Smart Deployment" algorithms for vehicle dispatch and demand anticipation.

Employees & Financials

• Employees: As of September 2024, no employees; all work is done by subcontractors.
• Revenue: No revenues reported for 2022 or 2023.
• Income:
  • Losses in recent years:
    • 2023: Net loss of $185,918.
    • 2022: Net loss of $1,491,513.
  • No current revenue, and the company is in research and development stage with significant expenses in software development and patents.

Key Assets

• Patented AI and machine learning technology.
• Cloud-based SaaS platform under development.
• Patents issued (e.g., U.S. Patent Nos. 9,984,574 and 11,217,101).

Corporate Status

• Still in pre-revenue, R&D, and testing phases.
• Has an accumulated deficit of approximately $2.7 million (as of December 31, 2023).
• The company relies on raising capital; there is no current cash as of December 31, 2023.

Summary

Tribal Rides International Corp. is a company in the autonomous mobility space, developing technology intently focused on AI and machine learning algorithms for optimized vehicle deployment, targeting the future of personal and shared autonomous transportation. The company has not generated revenue or positive income yet, with ongoing efforts in software and patent development, and relies on external funding.