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NORFOLK SOUTHERN HAS LOST $6.7 BILLION IN MARKET CAP SINCE OHIO TRAIN DERAILMENT





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PRESS RELEASE




GLOBAL RIDE-HAILING PLATFORM INDRIVE PARTNERS SHIELD TO BOOST TRUST AND FAIRNESS

Published: Jan. 25, 2023 at 9:00 p.m. ET

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The MarketWatch News Department was not involved in the creation of this
content.

Global Ride-Hailing Platform inDrive Partners SHIELD to Boost Trust and Fairness

Jan 25, 2023 (PRNewswire via COMTEX) -- PR Newswire


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SAN FRANCISCO, Jan. 25, 2023

SAN FRANCISCO, Jan. 25, 2023 /PRNewswire/ -- inDrive, the world's
fastest-growing online ride-hailing service, today announced that it is
utilizing global risk intelligence company SHIELD's Device Intelligence.
SHIELD's technology is strengthening inDrive's defenses against fraud and
helping it achieve the highest levels of trust, transparency and fairness for
drivers and passengers worldwide.




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With the second most downloaded mobility app in the world, inDrive provides for
the mobility needs of users in over 700 cities and across 47 countries. Today,
the inDrive app has been downloaded more than 150 million times. A people-driven
business on a mission to challenge injustice, the platform uniquely empowers
drivers and passengers to negotiate fair price offers based on route or other
factors.

SHIELD provides industry-leading risk intelligence which eliminates injustice
and unfairness by ensuring that negotiations and prices are kept transparent.
Dishonest and fraudulent users are kept out of the inDrive platform, preventing
them from causing issues such as unwarranted price hikes.

SHIELD's Device Intelligence will provide the driving force for inDrive to stay
ahead of ride-hailing fraud syndicates across the world. These fraud groups
often use fake accounts, which can be created with tools such as app cloners,
with stolen identities, or even by taking over legitimate accounts. Using app
cloners, fraudsters can create and access multiple instances of the same app
from a single device. Fraud syndicates further scale the breadth of their fraud
strategy by replicating this across many devices. Fake accounts can be used to
complete ghost rides - rides that do not actually happen - to quickly rack up
ride completion incentives. Fake accounts can also be combined with GPS spoofers
to simulate high demand in one area, causing fare surges fraud syndicates profit
from.

Proactively looking to stop fraud, inDrive will leverage the SHIELD ID, the
global standard for device identification that links fake devices created from
the same physical device, which could number in the thousands. The SHIELD ID
will empower inDrive to identify instances of multiple driver or passenger
accounts being operated from the same device. At the same time, SHIELD's AI
technology can pinpoint large numbers of accounts tapping on the same IP address
or subnet. SHIELD's Risk Indicators will detect the installation and activation
of all malicious tools and techniques on the platform, such as GPS spoofers,
tampered apps, and app cloners.


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SHIELD's Risk Intelligence does this all without the need for Personal
Identifiable Information (PII), ensuring that inDrive remains compliant with
data protection and privacy laws around the world without compromising on
security.

inDrive was rapidly launching in new markets and needed to account for diverse
and distinct fraud risks. SHIELD's Global Intelligence Network ensures inDrive
stays ahead of emerging threats while catering to the unique risk profiles of
each region.



Arsen Tomsky, CEO & Founder, inDrive said, "inDrive is dedicated to challenging
injustice and upholding transparency and fairness in the mobility and
transportation space. Our partnership with SHIELD empowers us to stay true to
our mission of helping people, as well as ensuring the highest standards of
trust and fairness for all while maintaining our rapid pace of growth."

Justin Lie, Founder and CEO of SHIELD, added, "inDrive's revolutionary price
negotiation model is a breath of fresh air in the ride-hailing industry.  Trust
is a two-way street, and SHIELD is proud to be helping inDrive ensure fair
prices and a level playing field for genuine drivers and passengers."

About inDrive

inDrive is a global IT and transportation platform and is one of the world's
fastest growing online ride-hailing services. Its services are available in over
700 cities in 47 countries around the world. The Company's app has been
downloaded over 150 million times.


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inDrive, formerly inDriver, has grown far beyond ride-sharing to become a
marketplace of services including intercity transportation, freight and cargo
services, domestic services, job searches and delivery. The company will
continue to expand and diversify the services they offer.

inDrive is based in Mountain View, California, and operates regional hubs in the
Americas, Asia, the Middle East, Africa and the countries of the CIS, and
employs over 2,400 people. In early 2021, inDrive achieved unicorn status after
closing a $140m investment round with Insight Partners, General Catalyst, and
Bond Capital, which valued the company at $1.23 billion.

For more information visit indrive.com.

About SHIELD

SHIELD is the world's leading risk intelligence company that helps global
organizations such as inDrive, Alibaba, Mobile Premier League (MPL), TrueMoney,
and Maya stop fraud, build trust, and drive growth. We combine AI and
explainable machine-learning algorithms to help all online businesses stay ahead
of new and unknown fraud.

With offices in San Francisco, Miami, London, Berlin, Jakarta, Bengaluru,
Beijing, Singapore, we are rapidly achieving our mission to enable trust for the
world.


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For more information, visit shield.com.

Media Contact:

Desmond Wong
desmond.wong@shield.com

 



View original content to download
multimedia:https://www.prnewswire.com/news-releases/global-ride-hailing-platform-indrive-partners-shield-to-boost-trust-and-fairness-301727873.html

SOURCE SHIELD




COMTEX_423303590/2454/2023-01-25T21:00:10

Is there a problem with this press release? Contact the source provider Comtex
at editorial@comtex.com. You can also contact MarketWatch Customer Service via
our Customer Center.

Copyright (C) 2023 PR Newswire. All rights reserved

The MarketWatch News Department was not involved in the creation of this
content.


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