Led by Rep. Bob Rommel the Florida Legislature passed a rideshare advertising bill (HB1039), opening up the market by establishing guidelines for the field that support its expansion. As a result the global leader in rideshare advertising VUGO is relocating its corporate headquarters to Florida, having completed its Series A funding round with current investor Florida Funders, considered to be Florida’s most active venture fund.
This legislation and the investment affirms the great potential of the rideshare advertising industry. VUGO’s focus is on in-car video infotainment, with plans to offer digital rooftop solutions across Florida in the coming months. Rideshare advertising like this is Digital Out of Home (DOOH) media, and part of un-routed transit advertising. With VUGO’s technology platform, advertisers have the power to distribute their content intelligently through VUGO’s rideshare advertising network.
The ability to get messages in front of pedestrians and passengers while they’re on-the-go helps build awareness and drive purchases at local point-of-sale locations as well as online. Benefits also extend to the local community, with the bill establishing that 10% of advertising content is reserved for charitable organizations and nonprofits.
Both Florida Funders and VUGO have high hopes for driving the medium throughout 2020.
“Florida has made the right call when it comes to allowing the free market to help drivers earn more money and benefit the community overall,” said VUGO CEO, Robert Flessner. “”We are excited about expanding our network in Florida and working with Florida Funders to continue to drive innovation in rideshare advertising.”
