ST. PAUL, Minn.--(BUSINESS WIRE)--Corbata, an innovative exchange that pairs riders with drivers, today introduced its own vehicle that will usher in the next version of the Gig Economy. Corbata is a Transactional Integrated Exchange (TIE) that uses technology to pair drivers with riders. Drivers set their own rates, schedules, and business organization.
“For far too long, Uber and Lyft have taken us all for a ride,” said Shawn Towle, Vice-President for Governmental & Media Relations. “The promise of the Gig Economy is to empower workers and consumers. However, Uber and Lyft don’t empower. They restrict trade through cost devaluation and price manipulation. They price gouge consumers charging different rates for the same trip manipulated by an undisclosed algorithm, take the majority of a driver’s share through surge pricing, and deprive local governments needed revenue.
“Corbata empowers riders and drivers,” Towle continued. “Corbata benefits riders with full transparency on both sides of the transaction, provides better income for drivers, and adds the potential of ongoing revenue streams for local governments through a transportation fee.”
Corbata’s power lies in its innovative design as a true market-driven TIE rather than the Transportation Network Company (TNC) structure of Uber and Lyft. The power of the market sets the rates driver-based companies and riders agree to. Importantly, Corbata is compliant with the ABC Test in the recent California Supreme Court’s Dynamex decision and the previous points established in the Borello decision.
“Corbata works because we merely facilitate the exchange of information between two mutually interested parties: riders and drivers,” said James Kruse, Chief Operating Officer. “The driver’s share is between 85/90 percent of what is agreed to with the other 15/10 percent going to support the exchange and revenue to local governments. It is a new, better model that reflects the true nature of the Gig Economy.”
Corbata’s platform also includes other innovative features including the ability for individual companies to promote products and services. Corbata’s Carcierge approach pairs the ability of local drivers to offer discounts to clubs, restaurants and other entertainment venues not found other places.
“Corbata is The People’s Platform. We are enhancing the overall experience for drivers and riders in any city anywhere,” said Jon Schoen, Corbata’s Chief Experience Officer. “Corbata was put to the test during the most recent Super Bowl in Minneapolis and was a resounding success. Corbata drivers reported making nearly double what they did compared to an Uber or Lyft driver – and that was with Uber charging outrageous surge pricing that stole from consumers and enriched corporate coffers. Corbata is the future of the Gig Economy.”
Corbata, Spanish for tie, is taking a distinctively different approach to local engagement. Corbata’s approach is to begin conversations with local government prior to operations to ensure local government has the ability to capture revenue and build compliance with local regulations.
“Corbata is a TIE that’s interested in positive, proactive discussions with local governments looking for smart transportation options,” Towle said.
Additionally, Corbata brings innovation by encouraging drivers to either build their own business or ally as cooperatives.
“In the beginning, Uber disrupted the transportation market with the promise of something better but that vision never really materialized,” said Towle. “Today, Corbata is disrupting the disruptors. Drivers set their own business structure and Corbata’s TIE model brings a truer free market process to the transportation market. The new Gig Economy is here and it will benefit everyone.”
For more information, please visit http://corbata.com