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by Stockwatch Business Reporter

The TSX Venture Exchange closed down a fraction to 584.22 Thursday. Sayan Navaratnam's shell graduate and ride-sharing app developer, Facedrive Inc. (FD), began trading today. It opened at $21.15 and reached an intraday high of $22.10, before closing at $20.45 on 10,500 shares.

Facedrive is a Toronto company with a ride-sharing app, similar to Uber or Lyft. The company describes itself as putting "people and planet first." When it comes to putting people first, Facedrive explains that its drivers make more than other ride-sharing app drivers do. When it comes to putting the planet first, Facedrive's app gives each passenger the option to book a ride on an electric, hybrid or gasoline-powered car. If a passenger chooses a hybrid or gasoline-powered car, then the app calculates the cost of offsetting the carbon emissions from his trip. Facedrive then takes a portion of his fare and uses it to pay for tree planting or other environmental sustainability activities (such as "forestry education"). In the full year 2018, Facedrive lost $1.93-million on revenue of $58,541. In the first quarter of 2019, it lost $828,552 on revenue of $171,400.

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