Mayweather invests in Manila-based ride-sharing company U-hop

ABS-CBN News

<p>MANILA—Professional boxer Floyd Mayweather announced his partnership with Manila-based ride-hailing firm U-hop citing the company&#x27;s potential to rival global giants Uber and Grab.</p><p>The Money Team (TMT), Mayweather&#x27;s lifestyle company, can bring U-hop global success, the boxer told reporters in a press conference held here on Thursday. </p><p>“I’m happy to be here in the Philippines. I’ve joined forces with U-hop. If you are watching right now anywhere around the world, download the app now [because] we’re about to go global,” he said.</p><p>“I did my homework. I’ve been looking at this company. And I said, you know what me and my TMT family should join forces with U-hop instantly before this company become a multi-billion dollar company.”</p><p>With Mayweather’s investment, the firm plans to execute its ambitious expansion plans in the US and Southeast Asia, U-hop chair Marvin dela Cruz said. </p><p>&quot;We are going to grow in a very fast scale with the help of the TMT team and Floyd Mayweather, we can make it happen,” dela Cruz said.</p><p>This is not the first time Mayweather has shown interest in business and investments. In 2014, he posted a photo of him with one of the world&#x27;s most successful investors Warren Buffet.</p><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/sMN9btR3aH/" data-instgrm-version="8" style="background:#FFF;border:0;border-radius:3px;box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15);margin:1px;max-width:658px;padding:0;width:calc(100% - 2px)"><div style="padding:8px"><div style="background:#F8F8F8;line-height:0;margin-top:40px;padding:50% 0;text-align:center;width:100%"><div style="background:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACwAAAAsCAMAAAApWqozAAAABGdBTUEAALGPC/xhBQAAAAFzUkdCAK7OHOkAAAAMUExURczMzPf399fX1+bm5mzY9AMAAADiSURBVDjLvZXbEsMgCES5/P8/t9FuRVCRmU73JWlzosgSIIZURCjo/ad+EQJJB4Hv8BFt+IDpQoCx1wjOSBFhh2XssxEIYn3ulI/6MNReE07UIWJEv8UEOWDS88LY97kqyTliJKKtuYBbruAyVh5wOHiXmpi5we58Ek028czwyuQdLKPG1Bkb4NnM+VeAnfHqn1k4+GPT6uGQcvu2h2OVuIf/gWUFyy8OWEpdyZSa3aVCqpVoVvzZZ2VTnn2wU8qzVjDDetO90GSy9mVLqtgYSy231MxrY6I2gGqjrTY0L8fxCxfCBbhWrsYYAAAAAElFTkSuQmCC);display:block;height:44px;margin:0 auto -44px;position:relative;top:-22px;width:44px"> </div></div><p style="color:#c9c8cd;font-family:Arial,sans-serif;font-size:14px;line-height:17px;margin-bottom:0;margin-top:8px;overflow:hidden;padding:8px 0 7px;text-align:center;text-overflow:ellipsis;white-space:nowrap"><a href="https://www.instagram.com/p/sMN9btR3aH/" style="color:#c9c8cd;font-family:Arial,sans-serif;font-size:14px;font-style:normal;font-weight:normal;line-height:17px;text-decoration:none" target="_blank">A post shared by Floyd Mayweather (@floydmayweather)</a> on <time dateTime="2014-08-27T06:01:14+00:00" style="font-family:Arial,sans-serif;font-size:14px;line-height:17px">Aug 26, 2014 at 11:01pm PDT</time></p></div></blockquote><div><script async="" defer="" src="https://www.instagram.com/embed.js" type="text/javascript"></script></div><p>“The greatest thing about my career is not just what I did inside the ring, it’s about being able to put myself in the position to make smart investments and also put myself in a position [where] I can travel the world, interact with people around the world, and make investments around the world,” he said. </p><p>He said his Filipina assistant helped him in making the investment with the Philippine-based company.</p><p>“My assistant, she’s Filipino and she’s from the Philippines. I was talking to her, every day we look at the company and see how the company is growing,” he said. </p><p>Meanwhile, the Land Transportation Franchising and Regulatory Board (LTFRB) asked U-Hop to stop accepting new drivers last year as the government enforced a crackdown against ride-sharing vehicles that were operating without government permits.</p><p>U-Hop was also reprimanded for using the agency&#x27;s logo on its certificates of accreditation without the government&#x27;s permission. The agency is also investigating the company over alleged violations reported by its drivers.</p><ul class="op-related-articles">	<li><a href="http://news.abs-cbn.com/business/02/09/18/dont-pay-p150000-to-u-hop-ltfrb-tells-drivers">Don&#x27;t pay P150,000 to U-Hop, LTFRB tells drivers</a></li></ul><p>Meanwhile, a Singapore-based celebrity cryptocurrency exchange GCOX earlier announced its partnership with Filipino boxing legend Manny Pacquiao to launch his own tokens called Pac coins.</p><ul class="op-related-articles">	<li><a href="http://news.abs-cbn.com/business/04/05/18/coming-soon-from-manny-pacquiao-pac-coins">Coming soon from Manny Pacquiao: PAC Coins</a></li></ul><p>Mayweather said he respects Pacquiao as an icon in the Philippines and &quot;his career, as a great businessman and a great father.&quot;</p>

<p>The pro boxer announced his partnership with U-hop citing the company's potential to rival global giants Uber and Grab.</p>

The pro boxer announced his partnership with U-hop citing the company's potential to rival global giants Uber and Grab.

Mayweather invests in Manila-based ride-sharing company U-hop | ABS-CBN

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Mayweather invests in Manila-based ride-sharing company U-hop

Mayweather invests in Manila-based ride-sharing company U-hop

ABS-CBN News

Published May 11, 2018 08:38 PM PHT

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Updated May 11, 2018 09:03 PM PHT

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U-hop

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