Is Facedrive Stock A Good Investment To Buy Right Now?

Facedrive (FDVRF) doesn’t call itself a company. It calls itself a “people-and-planet first” tech ecosystem that offers socially responsible services to local communities. It’s a great way to connect with local communities and it puts the planet first which is a great USP in today’s world. 

In an advertisement on The Financial Post, Facedrive CEO Sayan Navaratnam said, “What if we built this organization more into an ESG platform, with multiple pillars, where a user can come into the one ecosystem, understand the value and be part of something they truly believe in?”

Facedrive seems like a solid idea. In a world where everyone is looking at an ESG (environmental, social and governance) play, Facedrive seems like the perfect answer.  It has a number of verticals that leverage technology, and is not shy of acquiring firms with a similar vision who will add to its businesses. 

brown and black vehicle steering wheel

Image Source: Unsplash

However, it seems like Facedrive has stretched itself too thin with its vision.

What does Facedrive do?

Facedrive started as a ridesharing platform and moved into Food Delivery, e-commerce and health tech. Its ridesharing premise was that it was the first company to focus on emission reduction by offering hybrid and electric vehicles and paying its drivers a premium. It wanted to reduce GHG (greenhouse gas) emissions from every single ride and so it planted trees as well.

Today, Facedrive Rideshare provides users with options from EVs, hybrids as well as regular conventional vehicles. Facedrive Marketplace offers curated merchandise which is created by using sustainably sourced materials. Facedrive Foods provides contactless deliveries of healthy foods right to consumers’ doorsteps. Facedrive Health helps develop innovative technological solutions to the most acute health challenges of the day. Facedrive Social has its HiQ Social App that allows users to interact based on common interests and by offering gamification and mutual community support features.

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Disclaimer: All the information in this article - is published in good faith and for general information purpose only. Hashtag Investing does not make any warranties about the completeness, ...

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Andrew Armstrong 4 weeks ago Member's comment

Interesting, this is the first of I've heard of this company.