Market Overview

DropCar Hires Human Resources Veteran Victoria Pasquale to Guide National Expansion

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NEW YORK, April 30, 2018 (GLOBE NEWSWIRE) -- DropCar, Inc. (NASDAQ:DCAR) a provider of app-based automotive logistics and mobility services for consumers and the automotive industry, today announced the appointment of Victoria Pasquale as Chief Human Resources Officer.

Pasquale comes to DropCar from Aramark, where she was the Vice President of its New York region managing its higher education division that served 59 universities in 11 states, via a team of 14 district managers.

Before joining Aramark in 2016, Pasquale spent 15 years at Target in expanding executive roles. During 2014-2015, she was Target's Director of HR and Operations Management for the Northeast region, which included 5,000+ employees. Pasquale earned an MBA from Bellevue University and a B.S. in Marketing from Johnson and Wales University.

Consistent and Effective Hiring is a Key Growth Enabler

Pasquale takes the hiring wheel as DropCar embarks on its national expansion, fueled by its expanding partnerships with premier automotive and real estate enterprises. DropCar's ability to secure four tier-one corporate B2B contracts is directly linked to its uncompromising focus on the quality of consumer service.

"As a customer-facing, service-oriented business, employees are the lifeblood of our company and a competitive differentiator," said Spencer Richardson, co-founder and CEO of DropCar. "Victoria's deep experience in other publicly traded service businesses will ensure we can successfully scale the business as we expand to new markets and exponentially increase the employee base." 

To date, DropCar has signed agreements with Mercedes-Benz, two yet-to-be-named OEMs, and a major car sharing company. In addition, DropCar is experiencing inbound engagement from notable automotive and real estate companies.

Expanding Enterprise Demand for DropCar's Logistics Services and SaaS Solutions

Major car companies (manufacturers, rental companies, and service providers) are scrambling to adapt to dynamic and disruptive trends in automotive ownership and usage models.

To this end, these companies are increasingly turning to the likes of DropCar, which can offer best-of-breed, and software-based, "last mile" logistics. In addition, DropCar's turnkey software-as-a-service (SaaS) logistics platform is gaining equal attention to its valet services, as the rapidly emerging "on-demand" marketplace is driving enterprises to jettison non-dynamic legacy solutions.  

On the real estate front, DropCar is experiencing accelerated demand from luxury residential operators looking to bundle concierge services, as well as commercial office landlords who need to address expanding employee-per-square-foot density trends, which are taxing fixed parking supplies.  

About DropCar

Founded and launched in New York City in 2015, DropCar (NASDAQ:DCAR) offers its Vehicle Support Platform (VSP), a cloud-based platform and mobile app that help consumers and automotive-related companies reduce the cost, hassles and inefficiencies of owning a car, or fleet of cars, in urban centers. Its technology platform blends the efficiency and scale of cloud computing, machine learning and connected cars with the high-touch of highly trained drivers to move cars to/from fully staffed, secure garages to/from the people (or businesses) who own them. Consumers use DropCar's mobile app to ease the cost and stress of owning a car in the city. Dealerships, leasing companies, OEMs and shared mobility companies use DropCar's enterprise platform to reduce costs, streamline logistics and deepen relationships with customers. More information is available at www.dropcar.com.

Investor Relations Contact

Daniel Gelbtuch, VP of Corporate Finance for DropCar

daniel@dropcar.com (917) 509-9582

Media Contact

John Williams, Scoville PR for DropCar

jwilliams@scovillepr.com (206) 625-0075

Forward-Looking Statements

This press release contains "forward-looking statements" that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations, future financial position, future revenue, projected expenses, prospects, plans and objectives of management are forward-looking statements. Such statements are based on management's current expectations and involve risks and uncertainties. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors, including, without limitation, the ability to project future cash utilization and reserves needed for contingent future liabilities and business operations, the availability of sufficient resources of the company to meet its business objectives and operational requirements and the impact of competitive products and services and technological changes. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors under the heading "Risk Factors" in DropCar's filings  with the Securities and Exchange Commission. Except as required by applicable law, DropCar undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

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