[FONT="][h=1]Weyland Tech to Launch CreateApp in Taiwan in Partnership with Leading Line Corp. Affiliate, Now Mastery[/h]
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[h=1]Weyland Tech Management Purchases Shares of Common Stock[/h][h=2][/h][FONT="]https://www.globenewswire.com/news-...gement-Purchases-Shares-of-Common-Stock.html#[FONT="][/FONT][FONT="][/FONT][FONT="][/FONT][FONT="][/FONT][FONT="][/FONT]Email [FONT="][/FONT]Print Friendly [FONT="][/FONT]Share
February 10, 2020 10:00 ET | Source: Weyland Tech Inc.
“Given our strong tailwinds, including the increasing number of business subscribers coming onto our CreateApp platform, our expanding geographic footprint and recent major acquisition, we see our growth continuing to accelerate over the coming quarters,” noted Suen. “We’re also seeing great enthusiasm and excitement in our segment of the tech industry—unlike anything I’ve seen in my 34 years in business.
“As a result of these positive factors, my team has continued to invest personally in WEYL. In fact, over the last few years, I have invested more dollars in WEYL than I’ve received in salary as president and CEO of the company. I believe there is no stronger demonstration of my unwavering belief in our value proposition and ability to deliver superior value for our stakeholders.”
Last month, the company completed its acquisition of the eCommerce technology company, Push Interactive, a direct-to-consumer eCommerce platform that provides an end-to-end solution for enterprises and major U.S. brands that include HomeAdvisor, QuinStreet and Sunrun.
On a combined pro forma basis, the companies anticipate reporting $11.9 million in revenue for the fourth quarter of 2019, with total revenue of $42.3 million for the year. The combined annualized run rate on a pro forma basis totaled more than $60.6 million at year-end 2019.
As the result of the company’s strong course of growth and development over the last year, it is preparing to uplist to the Nasdaq Stock Market. This move is expected to attract the attention of a broader base of investors, particularly institutional and family offices.
Additional details regarding the purchases can be found in disclosures on Form 4 filed with the Securities and Exchange Commission at www.sec.gov.
About Weyland Tech
Weyland Tech is a developer and global provider of mobile business software applications. The company operates its CreateApp™ platform-as-a-service (PaaS) across three continents and 10 countries, including some of the fastest-growing emerging markets in Southeast Asia. The platform provides a mobile presence for small-and-medium sized businesses (SMBs) that is supported locally by distributor partnerships.
Offered in 14 languages with more than 70 integrated modules, CreateApp enables SMBs to create and deploy native mobile applications for Apple iOS and Google Android without technical knowledge or background. The technology empowers SMBs to increase sales, reach more customers, manage logistics, and promote their products and services in an easy, affordable and highly efficient way. For more information, visit weyland-tech.com.
About Push Interactive
The e-Commerce platform of Weyland’s Push Interactive subsidiary features comprehensive customer acquisition capabilities, highly productive media and channel strategies, well-tuned product promotion and messaging, and sales funnel development and optimization. The direct-to-consumer platform provides an end-to-end solution for SMBs and major brands, allowing these organizations to dramatically increase online revenue while lowering the cost of customer acquisition and order fulfillment. Post-sale, Push supports fulfillment, customer relationship management, and further monetization through re-engagement and remarketing toolsets that enhance customer lifetime value (LTV). For more information about Push Interactive, visit www.pushint.com.
About AtozPay™ and AtozGo™
Through Weyland Tech’s minority-owned subsidiary, Weyland Indonesia Perkasa (WIP), the company operates AtozPay™ and AtozGo™. The AtozPay mobile payments platform serves the burgeoning mCommerce and e-Payment markets in Indonesia, the world’s fourth most populous country. AtozGo is a fast-growing short-distance food delivery service operated in Jakarta, Indonesia. For more information, visit atozpayindonesia.com.
Important Cautions Regarding Forward Looking Statements
This release contains certain “forward-looking statements” relating to the business of the Company. All statements, other than statements of historical fact included herein are “forward-looking statements” including statements regarding: the ability of the Company to successfully integrate Push, the continued growth of the eCommerce segment and the ability of the Company to continue its expansion into that segment; the ability of the Company to attract customers and partners and generate revenues; the ability of the Company to successfully execute its business plan; the business strategy, plans, and objectives of the Company; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.
Company Contact
Brent Suen, CEO
Weyland Tech Inc.
Email contact
Media & Investor Contact
Ronald Both or Grant Stude
CMA
Tel (949) 432-7566
Email Contact
[/FONT]
February 10, 2020 10:00 ET | Source: Weyland Tech Inc.
NEW YORK, Feb. 10, 2020 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (OTCQX: WEYL) a leading global provider of mCommerce platform-as-a-service (PaaS), eCommerce managed services and fintech solutions, reported that its executive management purchased a total of 75,000 shares of the company’s common stock from the public market on February 7, 2020.
The buyers and amounts include:
- President & CEO, Brent Suen: 25,000 shares, bringing total shares held to 2,857,000.
- Chief strategy officer, Matthew Brent: 25,000 shares, bringing total shares held to 1,895,000.
- Chief operating officer, John MacNeil: 25,000 shares, bringing total shares held to 2,295,000.
“Given our strong tailwinds, including the increasing number of business subscribers coming onto our CreateApp platform, our expanding geographic footprint and recent major acquisition, we see our growth continuing to accelerate over the coming quarters,” noted Suen. “We’re also seeing great enthusiasm and excitement in our segment of the tech industry—unlike anything I’ve seen in my 34 years in business.
“As a result of these positive factors, my team has continued to invest personally in WEYL. In fact, over the last few years, I have invested more dollars in WEYL than I’ve received in salary as president and CEO of the company. I believe there is no stronger demonstration of my unwavering belief in our value proposition and ability to deliver superior value for our stakeholders.”
Last month, the company completed its acquisition of the eCommerce technology company, Push Interactive, a direct-to-consumer eCommerce platform that provides an end-to-end solution for enterprises and major U.S. brands that include HomeAdvisor, QuinStreet and Sunrun.
On a combined pro forma basis, the companies anticipate reporting $11.9 million in revenue for the fourth quarter of 2019, with total revenue of $42.3 million for the year. The combined annualized run rate on a pro forma basis totaled more than $60.6 million at year-end 2019.
As the result of the company’s strong course of growth and development over the last year, it is preparing to uplist to the Nasdaq Stock Market. This move is expected to attract the attention of a broader base of investors, particularly institutional and family offices.
Additional details regarding the purchases can be found in disclosures on Form 4 filed with the Securities and Exchange Commission at www.sec.gov.
About Weyland Tech
Weyland Tech is a developer and global provider of mobile business software applications. The company operates its CreateApp™ platform-as-a-service (PaaS) across three continents and 10 countries, including some of the fastest-growing emerging markets in Southeast Asia. The platform provides a mobile presence for small-and-medium sized businesses (SMBs) that is supported locally by distributor partnerships.
Offered in 14 languages with more than 70 integrated modules, CreateApp enables SMBs to create and deploy native mobile applications for Apple iOS and Google Android without technical knowledge or background. The technology empowers SMBs to increase sales, reach more customers, manage logistics, and promote their products and services in an easy, affordable and highly efficient way. For more information, visit weyland-tech.com.
About Push Interactive
The e-Commerce platform of Weyland’s Push Interactive subsidiary features comprehensive customer acquisition capabilities, highly productive media and channel strategies, well-tuned product promotion and messaging, and sales funnel development and optimization. The direct-to-consumer platform provides an end-to-end solution for SMBs and major brands, allowing these organizations to dramatically increase online revenue while lowering the cost of customer acquisition and order fulfillment. Post-sale, Push supports fulfillment, customer relationship management, and further monetization through re-engagement and remarketing toolsets that enhance customer lifetime value (LTV). For more information about Push Interactive, visit www.pushint.com.
About AtozPay™ and AtozGo™
Through Weyland Tech’s minority-owned subsidiary, Weyland Indonesia Perkasa (WIP), the company operates AtozPay™ and AtozGo™. The AtozPay mobile payments platform serves the burgeoning mCommerce and e-Payment markets in Indonesia, the world’s fourth most populous country. AtozGo is a fast-growing short-distance food delivery service operated in Jakarta, Indonesia. For more information, visit atozpayindonesia.com.
Important Cautions Regarding Forward Looking Statements
This release contains certain “forward-looking statements” relating to the business of the Company. All statements, other than statements of historical fact included herein are “forward-looking statements” including statements regarding: the ability of the Company to successfully integrate Push, the continued growth of the eCommerce segment and the ability of the Company to continue its expansion into that segment; the ability of the Company to attract customers and partners and generate revenues; the ability of the Company to successfully execute its business plan; the business strategy, plans, and objectives of the Company; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.
Company Contact
Brent Suen, CEO
Weyland Tech Inc.
Email contact
Media & Investor Contact
Ronald Both or Grant Stude
CMA
Tel (949) 432-7566
Email Contact
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[FONT="]CEO purchases 900,000 shares of OTCQX WEYL! Do not miss this! OTCQX WEYL experienced a surge in revenue for the full year 2019 of approximately $34.6 million, increasing 53% over 2018.[/FONT]
[FONT="]We found the company! OTCQX: WEYL
Click the link below to read about WEYL! [/FONT]
https://www.emergingmarketsllc.com/weyl
[FONT="]We found the company! OTCQX: WEYL
Click the link below to read about WEYL! [/FONT]
https://www.emergingmarketsllc.com/weyl
Weyland Tech Enhances Corporate Governance with New Social Media Committee Charter https://finance.yahoo.com/news/weyla...ity&soc_trk=ma
[h=1]Weyland Tech’s AtozGo Food Delivery Service Surpasses 86,000 Customers and 16,600 Daily Deliveries Seven Months Since Launch[/h][h=2][/h][FONT="]https://www.globenewswire.com/news-...ly-Deliveries-Seven-Months-Since-Launch.html#[FONT="][/FONT][FONT="][/FONT][FONT="][/FONT][FONT="][/FONT][FONT="][/FONT]Email [FONT="][/FONT]Print Friendly [FONT="][/FONT]Share
February 18, 2020 15:00 ET | Source: Weyland Tech Inc.
NEW YORK, Feb. 18, 2020 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (OTCQX: WEYL) a leading global provider of mCommerce platform-as-a-service (PaaS), eCommerce managed services and fintech solutions, reported that its AtozGo™ local food delivery service in Jakarta, Indonesia, has reached a registered customer base of 86,000 mobile users generating 16,600 orders per day.
This milestone has been achieved only seven months since the inaugural launch of AtozGo in July of last year, with the number of AtozGo users increasing 74% from the last updated figure of 49,500 announced in November. AtozGo has become so popular because it saves the time and hassle of going out and waiting in line, while providing a fast and easy way for delivery people to make extra money in their spare time or even full time.
Powered by Weyland’s m-Commerce technology and the AtozPay™ mobile payment platform, AtozGo allows hungry office workers and city dwellers to easily order food delivered from their local favorite restaurants. Using the AtozGo mobile app, they can browse restaurant menus and submit their food orders via their smartphone, and then track the delivery to their door. Once their food arrives, they can pay using their AtozPay e-Wallet.
Unlike other local food delivery services, such as GrabFood, AtozGo increases the potential number of available delivery people by not requiring that they have a motor vehicle. They simply need to be within walking distance of the customer and local food establishments. This helps make the service a more affordable and faster option for urban customers.
With a residential population of more than 30 million and 3.5 million daily commuters, Jakarta has proven to be an ideal location for the launch of AtozGo. The company’s runner-based approach for densely populated urban center like Jakarta reduces the typical food delivery time by about a third, or around 15 minutes, as compared to competing services.
“The strong and rapid growth of AtozGo has proven that its unique approach addresses need for a hyper-local, pedestrian-powered food delivery service in urban areas,” commented Weyland Tech CEO, Brent Suen.
AtozGo’s unique approach and phenomenal growth continues to create a tremendous value for Weyland. For global competitors, like Uber Eats or DoorDash, and even down to AtozGo’s local competitors in Southeast Asia, such as GrabFood or Go-Foods, the typical average value per user is around $330. This implies a stand-alone valuation for AtozGo of more than $28 million.
“We’ve only just begun, with Jakarta as just the starting point and many other cities in Southeast Asia that are ideal for expansion,” added Suen, “We continue to see AtozGo on track to reach more than 250,000 food deliveries per day, with a customer base topping 1 million by the end of this year. Given this growth trajectory, we see an implied stand-alone valuation for AtozGo exceeding $330 million.”
The food delivery service market in Southeast Asia is estimated at around $13 billion annually. According to Frost & Sullivan, globally the sector is growing at a 14% compounded annual growth rate (CAGR) and is expected to reach $200 billion by 2025.
Through its subsidiary, Weyland Indonesia Perkasa, Weyland Tech owns 31% of AtozPay and AtozGo. Customers acquired through these mobile platforms also present the opportunity to introduce Weyland Tech’s CreateApp mobile app development solution to area merchants and small to medium businesses (SMBs).
About Weyland Tech
Weyland Tech is a developer and global provider of mobile business software applications. The company operates its CreateApp™ platform-as-a-service (PaaS) across three continents and 10 countries, including some of the fastest-growing emerging markets in Southeast Asia. The platform provides a mobile presence for small-and-medium sized businesses (SMBs) that is supported locally by distributor partnerships.
Offered in 14 languages with more than 70 integrated modules, CreateApp enables SMBs to create and deploy native mobile applications for Apple iOS and Google Android without technical knowledge or background. The technology empowers SMBs to increase sales, reach more customers, manage logistics, and promote their products and services in an easy, affordable and highly efficient way. For more information, visit weyland-tech.com.
About AtozPay™ and AtozGo™
Through Weyland Tech’s minority-owned subsidiary, Weyland Indonesia Perkasa (WIP), the company operates AtozPay™ and AtozGo™. The AtozPay mobile payments platform serves the burgeoning mCommerce and e-Payment markets in Indonesia, the world’s fourth most populous country. AtozGo is a fast-growing short-distance food delivery service operated in Jakarta, Indonesia. For more information, visit atozpayindonesia.com.
About Push Interactive
The e-Commerce platform of Weyland’s Push Interactive subsidiary features comprehensive customer acquisition capabilities, highly productive media and channel strategies, well-tuned product promotion and messaging, and sales funnel development and optimization. The direct-to-consumer platform provides an end-to-end solution for SMBs and major brands, allowing these organizations to dramatically increase online revenue while lowering the cost of customer acquisition and order fulfillment. Post-sale, Push supports fulfillment, customer relationship management, and further monetization through re-engagement and remarketing toolsets that enhance customer lifetime value (LTV). For more information about Push Interactive, visit www.pushint.com.
Important Cautions Regarding Forward Looking Statements
This release contains certain “forward-looking statements” relating to the business of the Company. All statements, other than statements of historical fact included herein are “forward-looking statements” including statements regarding: the ability of the Company to successfully integrate Push, the continued growth of the eCommerce segment and the ability of the Company to continue its expansion into that segment; the ability of the Company to attract customers and partners and generate revenues; the ability of the Company to successfully execute its business plan; the business strategy, plans, and objectives of the Company; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.
Company Contact
Brent Suen, CEO
Weyland Tech Inc.
Email contact
Media & Investor Contact
Ronald Both or Grant Stude
CMA
Tel (949) 432-7566
Email Contact
[/FONT]
1 for 13 reverse split, but looks like they are headed to NASDAQ
[h=2]Weyland Tech Joins Forces with Medias-Com'S SA to Introduce the Power of CreateApp to Small Businesses Across Italy[/h]11:00 am ET February 24, 2020 (Globe Newswire) Print
Weyland Tech, Inc. (OTCQX: WEYL), a leading global provider of mCommerce platform-as-a-service (PaaS), eCommerce managed services and fintech solutions, is preparing to launch its CreateApp mobile commerce platform-as-a-service in Italy.
The availability of CreateApp will allow the more than 172,000 small businesses across the country to easily establish and manage their mobile presence. To support the launch, Weyland has partnered with Medias-Com'S SA, a Swiss company specializing in media and communication.
Medias-Com'S will be joined by Infomaniak, one of the leading web solutions companies in Switzerland. Founded in 1994, Infomaniak has more than 130 employees and annual revenue of 25 million euros. Also partnered with Medias-Com'S for the campaign is Proteus, a leading IT company that provides Internet access and eCommerce applications to businesses across Italy.
"Italian small businesses have been grossly underserved in terms of mobile solutions, and we have found CreateApp to be an ideal solution for any business looking to create a mobile app to promote its product or services," commented Paolo Tozzini, owner and manager of Proteus. "Unlike anything else we've seen on the market, CreateApp enables business managers to easily create and deploy native mobile applications without technical knowledge or background. With CreateApp, they can finally leverage the power of mobile to increase sales, reach more customers, manage logistics and conduct financial transactions in a simple, affordable and highly efficient way."
CreateApp will be offered under the brand name, Medias-ComApps, with initial pricing set at 25-110 euros per month. It will include a business exchange platform for Asia-based companies to conduct cross-border business. The exchange will feature a unique on-the-fly language translation capability for B2B and B2B2C members interacting and engaging in e-Commerce via the platform.
First launched in Southeast Asia, CreateApp has attracted a large user following, growing 47 percent over the last year to more than 360,000. The launch in Italy follows the company's entry into Taiwan in association with Line Corp., and in the U.S. through its recent acquisition of Minneapolis-based Push Interactive.
"Entering the Italian small business market with a premium partner like Medias-Com'S represents another major step in plans for global expansion," commented Weyland CEO, Brent Suen. "It also highlights the highly-scalable, low-capex nature of our platform, with localized features that can be supported by regional partners. As our partnership with Medias-Com'S develops, we see our CreateApp platform being offered in Germany, France, Switzerland and the Benelux region."
According to Statista, Italy has one of the largest e-Commerce markets in Europe that is expected to grow nearly two-fold, from $12.3 billion in 2017 to $24.1 billion by 2023. Key factors driving this growth include greater Internet penetration and the growth in the number of mobile users. Mobile shopping has also gathered significant momentum in the country, with nearly 31% of all e-Commerce B2C sales transacted via mobile.
Weyland's recent acquisition of Push Interactive is expected to also provide specialized lead-generation tools for Italian small businesses to increase their online sales. Push Interactive's direct-to-consumer eCommerce platform provides an end-to-end solution for enterprises and major U.S. brands that include HomeAdvisor, QuinStreetand Sunrun.
"There are many exciting opportunities to add features and enhancements to CreateApp as provided by Push Interactive and our comprehensive suite of eCommerce products and services," added Suen, "with this all helping to drive expansion of our recurring, high-margin revenue stream over the coming quarters."
About Media-Com'S SA
Medias-Com'S is a Swiss company specializing in media and communication and all the branches that surround it. The company offers various online solutions that facilitate communication. This includes Medias-ComApps, an online platform for the creation of tailor-made mobile applications, and Medias-coms Signage, an online platform for the management of advertising screens. Medias-Com Shops is an online trading platform that facilitates the purchase of computer equipment. For more information, visit medias-coms.ch.
About Proteus
Launched in 1994, Proteus is a leading regional IT provider with clients ranging from The Vatican, multiple Italian ministries, Leica Microsystems ($1bb Euro enterprise) to many large enterprise clients across Italy. For more information, visit the company's website here.
About Infomaniak
Founded in 1994 and wholly owned by its founders and employees, Infomaniak is an independent company based exclusively in Switzerland. Not only are 70% of its employees highly qualified engineers, it also focuses systematically on internal development and open source solutions to design its products. This allows it to keep evolving its services while ensuring optimum guarantees of security and confidentiality for its customers. The company has more than 130 employees with annual revenue of 25 million euros. For more information, visit www.infomaniak.com/en.
About Weyland Tech
Weyland Tech is a developer and global provider of mobile business software applications. The company operates its CreateApp(TM) platform-as-a-service (PaaS) across three continents and 10 countries, including some of the fastest-growing emerging markets in Southeast Asia. The platform provides a mobile presence for small-and-medium sized businesses (SMBs) that is supported locally by distributor partnerships.
Offered in 14 languages with more than 70 integrated modules, CreateApp enables SMBs to create and deploy native mobile applications for Apple iOS and Google Android without technical knowledge or background. The technology empowers SMBs to increase sales, reach more customers, manage logistics, and promote their products and services in an easy, affordable and highly efficient way. For more information, visit weyland-tech.com.
About Push Interactive
The e-Commerce platform of Weyland's Push Interactive subsidiary features comprehensive customer acquisition capabilities, highly productive media and channel strategies, well-tuned product promotion and messaging, and sales funnel development and optimization. The direct-to-consumer platform provides an end-to-end solution for SMBs and major brands, allowing these organizations to dramatically increase online revenue while lowering the cost of customer acquisition and order fulfillment. Post-sale, Push supports fulfillment, customer relationship management, and further monetization through re-engagement and remarketing toolsets that enhance customer lifetime value (LTV). For more information about Push Interactive, visit www.pushint.com.
Important Cautions Regarding Forward-Looking Statements
This release contains certain "forward-looking statements" relating to the business of the Company. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding: the ability of the Company to successfully integrate Push, the continued growth of the eCommerce segment and the ability of the Company to continue its expansion into that segment; the ability of the Company to attract customers and partners and generate revenues; the ability of the Company to successfully execute its business plan; the business strategy, plans, and objectives of the Company; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.
Company Contact
Brent Suen, CEO
Weyland Tech Inc.
[h=2]Weyland Tech Joins Forces with Medias-Com'S SA to Introduce the Power of CreateApp to Small Businesses Across Italy[/h]11:00 am ET February 24, 2020 (Globe Newswire) Print
Weyland Tech, Inc. (OTCQX: WEYL), a leading global provider of mCommerce platform-as-a-service (PaaS), eCommerce managed services and fintech solutions, is preparing to launch its CreateApp mobile commerce platform-as-a-service in Italy.
The availability of CreateApp will allow the more than 172,000 small businesses across the country to easily establish and manage their mobile presence. To support the launch, Weyland has partnered with Medias-Com'S SA, a Swiss company specializing in media and communication.
Medias-Com'S will be joined by Infomaniak, one of the leading web solutions companies in Switzerland. Founded in 1994, Infomaniak has more than 130 employees and annual revenue of 25 million euros. Also partnered with Medias-Com'S for the campaign is Proteus, a leading IT company that provides Internet access and eCommerce applications to businesses across Italy.
"Italian small businesses have been grossly underserved in terms of mobile solutions, and we have found CreateApp to be an ideal solution for any business looking to create a mobile app to promote its product or services," commented Paolo Tozzini, owner and manager of Proteus. "Unlike anything else we've seen on the market, CreateApp enables business managers to easily create and deploy native mobile applications without technical knowledge or background. With CreateApp, they can finally leverage the power of mobile to increase sales, reach more customers, manage logistics and conduct financial transactions in a simple, affordable and highly efficient way."
CreateApp will be offered under the brand name, Medias-ComApps, with initial pricing set at 25-110 euros per month. It will include a business exchange platform for Asia-based companies to conduct cross-border business. The exchange will feature a unique on-the-fly language translation capability for B2B and B2B2C members interacting and engaging in e-Commerce via the platform.
First launched in Southeast Asia, CreateApp has attracted a large user following, growing 47 percent over the last year to more than 360,000. The launch in Italy follows the company's entry into Taiwan in association with Line Corp., and in the U.S. through its recent acquisition of Minneapolis-based Push Interactive.
"Entering the Italian small business market with a premium partner like Medias-Com'S represents another major step in plans for global expansion," commented Weyland CEO, Brent Suen. "It also highlights the highly-scalable, low-capex nature of our platform, with localized features that can be supported by regional partners. As our partnership with Medias-Com'S develops, we see our CreateApp platform being offered in Germany, France, Switzerland and the Benelux region."
According to Statista, Italy has one of the largest e-Commerce markets in Europe that is expected to grow nearly two-fold, from $12.3 billion in 2017 to $24.1 billion by 2023. Key factors driving this growth include greater Internet penetration and the growth in the number of mobile users. Mobile shopping has also gathered significant momentum in the country, with nearly 31% of all e-Commerce B2C sales transacted via mobile.
Weyland's recent acquisition of Push Interactive is expected to also provide specialized lead-generation tools for Italian small businesses to increase their online sales. Push Interactive's direct-to-consumer eCommerce platform provides an end-to-end solution for enterprises and major U.S. brands that include HomeAdvisor, QuinStreetand Sunrun.
"There are many exciting opportunities to add features and enhancements to CreateApp as provided by Push Interactive and our comprehensive suite of eCommerce products and services," added Suen, "with this all helping to drive expansion of our recurring, high-margin revenue stream over the coming quarters."
About Media-Com'S SA
Medias-Com'S is a Swiss company specializing in media and communication and all the branches that surround it. The company offers various online solutions that facilitate communication. This includes Medias-ComApps, an online platform for the creation of tailor-made mobile applications, and Medias-coms Signage, an online platform for the management of advertising screens. Medias-Com Shops is an online trading platform that facilitates the purchase of computer equipment. For more information, visit medias-coms.ch.
About Proteus
Launched in 1994, Proteus is a leading regional IT provider with clients ranging from The Vatican, multiple Italian ministries, Leica Microsystems ($1bb Euro enterprise) to many large enterprise clients across Italy. For more information, visit the company's website here.
About Infomaniak
Founded in 1994 and wholly owned by its founders and employees, Infomaniak is an independent company based exclusively in Switzerland. Not only are 70% of its employees highly qualified engineers, it also focuses systematically on internal development and open source solutions to design its products. This allows it to keep evolving its services while ensuring optimum guarantees of security and confidentiality for its customers. The company has more than 130 employees with annual revenue of 25 million euros. For more information, visit www.infomaniak.com/en.
About Weyland Tech
Weyland Tech is a developer and global provider of mobile business software applications. The company operates its CreateApp(TM) platform-as-a-service (PaaS) across three continents and 10 countries, including some of the fastest-growing emerging markets in Southeast Asia. The platform provides a mobile presence for small-and-medium sized businesses (SMBs) that is supported locally by distributor partnerships.
Offered in 14 languages with more than 70 integrated modules, CreateApp enables SMBs to create and deploy native mobile applications for Apple iOS and Google Android without technical knowledge or background. The technology empowers SMBs to increase sales, reach more customers, manage logistics, and promote their products and services in an easy, affordable and highly efficient way. For more information, visit weyland-tech.com.
About Push Interactive
The e-Commerce platform of Weyland's Push Interactive subsidiary features comprehensive customer acquisition capabilities, highly productive media and channel strategies, well-tuned product promotion and messaging, and sales funnel development and optimization. The direct-to-consumer platform provides an end-to-end solution for SMBs and major brands, allowing these organizations to dramatically increase online revenue while lowering the cost of customer acquisition and order fulfillment. Post-sale, Push supports fulfillment, customer relationship management, and further monetization through re-engagement and remarketing toolsets that enhance customer lifetime value (LTV). For more information about Push Interactive, visit www.pushint.com.
Important Cautions Regarding Forward-Looking Statements
This release contains certain "forward-looking statements" relating to the business of the Company. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding: the ability of the Company to successfully integrate Push, the continued growth of the eCommerce segment and the ability of the Company to continue its expansion into that segment; the ability of the Company to attract customers and partners and generate revenues; the ability of the Company to successfully execute its business plan; the business strategy, plans, and objectives of the Company; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.
Company Contact
Brent Suen, CEO
Weyland Tech Inc.
Source: Weyland Tech Inc.
February 27, 2020 08:31 ET
[h=2]Weyland Tech Launches CreateApp Marketing Campaign Across Indonesia in Partnership with National Telco, Indosat Ooredoo[/h][h=4][/h]
NEW YORK, Feb. 27, 2020 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (OTCQX: WEYL) a leading global provider of mCommerce platform-as-a-service (PaaS), eCommerce managed services and fintech solutions, has partnered with Indosat Ooredoo, Indonesia’s second largest telecom provider, to launch a nationwide marketing campaign for Weyland’s CreateApp mCommerce platform.
To drive signups, Indosat will offer the more than 6 million small and medium sized businesses (SMBs) in its nationwide subscriber network a 30-day free trial subscription to CreateApp. Indosat’s internal sales teams will lead the effort, with its customer service supporting the end-users. Indosat SMB customers who subscribe to CreateApp will be billed through their Indosat cell phone bills. Weyland will provide Indosat an ad channel on CreateApp via Google AdMob.
The CreateApp platform-as-a-service enables businesses to create and deploy native mobile applications for Apple iOS and Google Android without technical knowledge or background. It empowers SMBs to increase sales, reach more customers, manage logistics, conduct financial transactions, and promote their products and services in an easy, affordable and highly efficient way. The CreateApp user base, comprised of businesses across Southeast Asia, grew 47 percent last year to more than 360,000.
“This major marketing campaign with a trusted and large telecom provider like Indosat greatly expands our market reach in Indonesia where there is strong smartphone penetration and virtually no competition for DIY app platforms like CreateApp,” noted CreateApp’s chief product officer and founder, Eddie Foong. “This campaign also presents up- and cross-sell opportunities for AtozPay, our fintech solution for businesses to go cashless in a market where 60% of the adult population is unbanked.”
The Indonesia market has the fastest adoption of mobile apps, as well as the largest and fastest-growing Internet economy expected to grow at a 49% CAGR to more than $100 billion by 2025, according to Adjust Global App Trends 2019 Global Benchmarks Report.
“Our DIY app platform is a great fit with Indosat’s subscriber base, allowing users to easily market, promote and sell their goods and services via mobile,” commented Weyland CEO, Brent Suen. “CreateApp offers a valuable, unique and much needed solution for Indosat’s subscribers looking to compete in the fast-growing mCommerce and eCommerce markets. For Indosat, we see it creating more loyal and engaged business customers.”
Weyland’s recent acquisition of Minneapolis-based Push Interactive is also expected to provide lead-generation tools for Indonesian SMBs to increase their online sales.
About Indosat Ooredoo
Indosat Ooredoo, an Indonesia Stock Exchange listed company and member of Ooredoo Group, is building Indonesia’s leading digital telco, enabling access and greater connectivity for everybody and every business. Focusing on human growth, Indosat Ooredoo aspires to enrich the lives of Indonesians in the digital world and proactively offer solutions to fulfill their needs. Indosat Ooredoo was recognized in the Most Innovative Company of the Year category in the 2015 Asia Pacific Stevie Awards. For more information, visit indosatooredoo.com.
About Weyland Tech
Weyland Tech is a developer and global provider of mobile business software applications. The company operates its CreateApp™ platform-as-a-service (PaaS) across three continents and 10 countries, including some of the fastest-growing emerging markets in Southeast Asia. The platform provides a mobile presence for small-and-medium sized businesses (SMBs) that is supported locally by distributor partnerships.
Offered in 14 languages with more than 70 integrated modules, CreateApp enables SMBs to create and deploy native mobile applications for Apple iOS and Google Android without technical knowledge or background. The technology empowers SMBs to increase sales, reach more customers, manage logistics, and promote their products and services in an easy, affordable and highly efficient way. For more information, visit weyland-tech.com.
About Push Interactive
The e-Commerce platform of Weyland’s Push Interactive subsidiary features comprehensive customer acquisition capabilities, highly productive media and channel strategies, well-tuned product promotion and messaging, and sales funnel development and optimization. The direct-to-consumer platform provides an end-to-end solution for SMBs and major brands, allowing these organizations to dramatically increase online revenue while lowering the cost of customer acquisition and order fulfillment. Post-sale, Push supports fulfillment, customer relationship management, and further monetization through re-engagement and remarketing toolsets that enhance customer lifetime value (LTV). For more information about Push Interactive, visit www.pushint.com.
About AtozPay™ and AtozGo™
Through Weyland Tech’s minority-owned subsidiary, Weyland Indonesia Perkasa (WIP), the company operates AtozPay™ and AtozGo™. The AtozPay mobile payments platform serves the burgeoning mCommerce and e-Payment markets in Indonesia, the world’s fourth most populous country. AtozGo is a fast-growing short-distance food delivery service operated in Jakarta, Indonesia. For more information, visit atozpayindonesia.com.
Important Cautions Regarding Forward Looking Statements
This release contains certain “forward-looking statements” relating to the business of the Company. All statements, other than statements of historical fact included herein are “forward-looking statements” including statements regarding: the ability of the Company to successfully integrate Push, the continued growth of the eCommerce segment and the ability of the Company to continue its expansion into that segment; the ability of the Company to attract customers and partners and generate revenues; the ability of the Company to successfully execute its business plan; the business strategy, plans, and objectives of the Company; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.
Company Contact
Brent Suen, CEO
Weyland Tech Inc.
Email contact
Media & Investor Contact
Ronald Both or Grant Stude
CMA
Tel (949) 432-7566
Nasdaq rumours since 2016...https://scr.zacks.com/News/Press-Re...-Stopped-Earnings-Still-on-Track/default.aspx .
Not trying to bash, Bruce, just saying, between the reverse split, short squeez/dividend rumours, dilution, etc., there are too many shady things going from a pink sheet with Asian ties. Rubs me the wrong way. My $0.02.
Best,
Steiner
Not trying to bash, Bruce, just saying, between the reverse split, short squeez/dividend rumours, dilution, etc., there are too many shady things going from a pink sheet with Asian ties. Rubs me the wrong way. My $0.02.
Best,
Steiner
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[h=1]Weyland Tech Provides Corporate Update[/h][h=2][/h][FONT="]https://www.globenewswire.com/news-.../Weyland-Tech-Provides-Corporate-Update.html#[FONT="][/FONT][FONT="][/FONT][FONT="][/FONT][FONT="][/FONT][FONT="][/FONT]Email [FONT="][/FONT]Print Friendly [FONT="][/FONT]Share
March 19, 2020 08:31 ET | Source: Weyland Tech Inc.
NEW YORK, March 19, 2020 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (OTCQX: WEYL) (OTCQX: WEYLD), a leading global provider of mCommerce platform-as-a-service (PaaS), eCommerce managed services and fintech solutions, has provided a corporate update.
“Given the subscription-based model of our flagship CreateApp mCommerce platform and the benefits of digital customer interaction continuing to drive activity, we see limited impact on our core business from COVID-19,” commented Weyland Tech CEO, Brent Suen. “We’ve had recent minimal effect on productivity and customer service. To be sure, it remains a fluid situation, and we will continue to closely monitor developments and adjust accordingly.”
In January, Weyland completed the acquisition of the Minneapolis-based eCommerce technology company, Push Interactive, which provides an eCommerce marketing solution for enterprises and major U.S. brands, including HomeAdvisor, QuinStreet and Sunrun. The integration has proceeded smoothly and is now virtually complete.
Weyland reported earlier that it exited 2019 at an annualized run rate of more than $48.6 million, or $60.6 million on a combined pro forma basis with Push. This compares to $22.7 million in revenue for Weyland alone in 2018.
Weyland continues to see growth in 2020, with an outlook aligned with industry analyst expectations for other e-Commerce companies like Amazon. Earlier today, JPMorgan analyst, Doug Anmuth, raised his first quarter revenue estimate for Amazon to $74 billion — $1 billion higher than Amazon’s own guidance range.
According to Anmuth: “eCommerce will benefit as closings of physical stores and fear of public places should accelerate the secular shift of retail online, which we believe will prove sustainable even after the crisis ends."
Push Interactive co-founder, CEO and president, Haig Newton, commented: “For Push, while we are seeing significant ‘noise’ in the channels related to the coronavirus, there has been some disruption on the demand side across our verticals. We are constantly innovating and adapting to drive traffic through our acquisition funnels to combat this. We are monitoring indicators in demand fluctuations for refinancing mortgages, debt consolidation, insurance plans, and home renovation projects."
Weyland also reported that the number of registered users for AtozGo™, the company’s popular hyper-local food delivery service in Jakarta, Indonesia, has as exceeded more than 100,000, climbing by more than 14,000 since mid-February.
The 100,000-user milestone for AtozGo was achieved within only eight months since the app’s official launch. AtozGo users are collectively generating an average of more than 15,500 delivery orders per day after recently hitting a high of 17,500. While down about 10% due to the ongoing 14-day period of ‘social distancing’ recommended by the government resulting in more people not commuting to the city and working from home, an increasing percentage of orders have been for unprepared food and household supplies from local grocery and convenience stores.
According to Suen: “We believe the uptick in orders for unprepared foods from grocery and convenience stores is due to urban users discovering that AtozGo can help to avoid potential exposure to the coronavirus while out in public or at the store. This trend is also being seen in the U.S. by home delivery services like Amazon. For AtozGo, there has been a shift in order mix from mostly lunchtime office workers to more urban residential customers.”
Compared to other food and grocery delivery services in Jakarta like GrabFood, AtozGo increases the potential number of available delivery people by not requiring that they have a motor vehicle. They simply need to be within walking distance of the customer and local establishments. This helps make the service a more affordable and faster option for urban customers.
In February, Weyland implemented a 1-for-13 reverse split of its common stock on February 27, 2020. The company expects the reverse split to allow its stock price to meet the listing requirements for The Nasdaq Capital Market, and it is currently involved in advancing the application and review process.
The company plans to file its 2019 Form 10-K and hold an investor conference call later this month. Dial-in information will be announced via a press release prior to the call.
About Weyland Tech
Weyland Tech is a developer and global provider of mobile business software applications. The company operates its CreateApp™ platform-as-a-service (PaaS) across three continents and 10 countries, including some of the fastest-growing emerging markets in Southeast Asia. The platform provides a mobile presence for small-and-medium sized businesses (SMBs) that is supported locally by distributor partnerships.
Offered in 14 languages with more than 70 integrated modules, CreateApp enables SMBs to create and deploy native mobile applications for Apple iOS and Google Android without technical knowledge or background. The technology empowers SMBs to increase sales, reach more customers, manage logistics, and promote their products and services in an easy, affordable and highly efficient way. For more information, visit weyland-tech.com.
About AtozPay™ and AtozGo™
Through Weyland Tech’s minority-owned subsidiary, Weyland Indonesia Perkasa (WIP), the company operates AtozPay™ and AtozGo™. The AtozPay mobile payments platform serves the burgeoning mCommerce and e-Payment markets in Indonesia, the world’s fourth most populous country. AtozGo is a fast-growing short-distance food delivery service operated in Jakarta, Indonesia. For more information, visit atozpayindonesia.com.
About Push Interactive
The e-Commerce platform of Weyland’s Push Interactive subsidiary features comprehensive customer acquisition capabilities, highly productive media and channel strategies, well-tuned product promotion and messaging, and sales funnel development and optimization. The direct-to-consumer platform provides an end-to-end solution for SMBs and major brands, allowing these organizations to dramatically increase online revenue while lowering the cost of customer acquisition and order fulfillment. Post-sale, Push supports fulfillment, customer relationship management, and further monetization through re-engagement and remarketing toolsets that enhance customer lifetime value (LTV). For more information about Push Interactive, visit www.pushint.com.
Important Cautions Regarding Forward Looking Statements
This release contains certain “forward-looking statements” relating to the business of the Company. All statements, other than statements of historical fact included herein are “forward-looking statements” including statements regarding: the ability of the Company to successfully integrate Push, the continued growth of the eCommerce segment and the ability of the Company to continue its expansion into that segment; the ability of the Company to attract customers and partners and generate revenues; the ability of the Company to successfully execute its business plan; the business strategy, plans, and objectives of the Company; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.
Company Contact
Brent Suen, CEO
Weyland Tech Inc.
Email contact
Media & Investor Contact
Ronald Both
CMA
Tel (949) 432-7566
Email Contact
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[h=1]Weyland Tech Reports Revenue up 86% to Record $10.0 Million in Q4 2019, and up 53% to Record $34.6 Million for the Full Year[/h][h=2][/h][FONT="]https://www.globenewswire.com/news-...o-Record-34-6-Million-for-the-Full-Year.html#[FONT="][/FONT][FONT="][/FONT][FONT="][/FONT][FONT="][/FONT][FONT="][/FONT]Email [FONT="][/FONT]Print Friendly [FONT="][/FONT]Share
March 30, 2020 16:17 ET | Source: Weyland Tech Inc.
NEW YORK, March 30, 2020 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (OTCQX: WEYL), a leading global provider of mCommerce platform-as-a-service (PaaS), reported results for the fourth quarter and full year ended December 31, 2019. All quarterly and yearly comparisons are to the same year-ago period unless otherwise noted.
Financial Highlights
- Q4 2019 revenue, comprised of recurring subscription fees, totaled a record $10.0 million, up 11% from the previous quarter and up 86% from the year-ago quarter.
- Full-year 2019 revenue increased 53% to a record $34.6 million.
- Full-year 2019 gross profit increased 55% to $6.2 million, with gross margin improving 30 basis points to 18.0%
- Cash and cash equivalents totaled $3.0 million at December 31, 2019.
- Increased adoption of the company’s CreateApp mobile app solution for SMBs, which included new customers as well as existing customers subscribing to additional features and modules. The CreateApp user base, comprised of businesses across Southeast Asia, grew 47 percent last year to more than 360,000.
- Entered agreement to acquire the assets and operations of the eCommerce technology company, Push Interactive, which closed on January 8, 2020.
- Acquired 31% beneficial ownership of PT Weyland Indonesia Perkasa (WIP), owner and operator of the fast-growing AtozPay and AtozGo platforms. AtozGo™, a short distance food delivery service in Jakarta, Indonesia, addresses the need for a hyper-local, pedestrian-powered food delivery service that can make food delivery from local establishments quick and easy for office workers and urbanites. In the eight months since its launch, lunchtime deliveries have scaled to more than 100,000 customers.
“For Q4 and the full year of 2019, our record topline performance was driven by continued growth in CreateApp subscription fees, with this due to the increasing adoption of our CreateApp Platform-as-a-Service by businesses in the markets we serve,” commented Weyland Tech CEO, Brent Suen. “Excluding a recent change in the accounting for our R&D expense, expensing immediately versus amortizing, we would have been adjusted EBITDA positive for the fourth quarter.”
“CreateApp, which enables businesses to create and deploy native mobile applications for Apple iOS and Google Android without technical knowledge or background, realized strong gains in 2019 in terms of new users and market expansion. Our CreateApp user base, which is mostly comprised of businesses across Southeast Asia and other select countries, grew 47% in 2019 to more than 360,000.
“This growth continues to be driven primarily by our highly-productive channel partners who have been introducing new customers, as well by existing customers subscribing to additional features and modules. We also continued to benefit from the overall positive trends in global markets toward e-Commerce, and for emerging markets the continued shift to m-Commerce.
“In February of this year we announced a new partnership with Indosat Ooredoo, Indonesia’s second largest telecom provider, to launch a nationwide marketing campaign for CreateApp. We expect this partnership to greatly expand our market reach in Indonesia, especially where there is strong smartphone penetration and virtually no competition for DIY mobile app platforms like CreateApp.
“This campaign also presents up- and cross-sell opportunities for AtozPay, our fintech solution for businesses to go cashless in a market where 60% of the adult population is unbanked. The Indonesia market has the fastest adoption of mobile apps. It also has the largest and fastest-growing Internet economy, expected to grow at a 49% CAGR to more than $100 billion by 2025.
“CreateApp and our newly acquired U.S.-based business, Push Interactive, provide ‘e-Commerce enablement,’ with this now more important than ever for enterprises and brands around the world. Key to our acquisition of Push is how it has provided Weyland, which historically has been focused on South East Asia, a well-established beachhead in North America. We believe this will allow us to attract new users to CreateApp and AtozPay more quickly and cost efficiently.
“Push’s eCommerce platform is highly synergistic to our existing m-Commerce technologies, including AtozGo, our hyper-local, ‘foot-powered’ food delivery service operated by our AtozGo fintech subsidiary in Jakarta. We recently reported that the number of registered users for AtozGo reached more than 100,000. This major milestone was achieved within only eight months since AtozGo’s official launch. Given the trending, we see AtozGo growing to 1 million users by year-end.
“AtozGo users are collectively generating an average of more than 15,500 delivery orders per day after hitting a high of 17,500. Orders declined about 10% due to the ongoing 14-day period of ‘social distancing’ recommended by the government to slow the spread of the coronavirus, with this resulting in more people not commuting into the city and instead working from home. However, offsetting this has been an increasing percentage of orders for unprepared food and household supplies from local grocery and convenience stores.
“As we anticipated, our success with AtozGo has attracted the attention of other larger delivery service providers who traditionally operate in areas that require motorized delivery, and we’ve been involved in a number of ongoing discussions that could involve a potential buyer of AtozGo or a major partnership.
“The valuations of app-based food delivery services like AtozGo are highly favorable. If you look at the industry landscape, whether it's an Uber Eats or DoorDash, or even similar services in Southeast Asia like GrabFood or Go-Food, the average value per user is around $330. For AtozGo, this would imply a stand-alone valuation of around $33 million.
“CreateApp’s subscription-based model and the advantages of digital customer interaction continue to drive business activity despite the problems created by the coronavirus. There is now a greater focus with consumers on buying things that don’t require going out, but which you can order online and have it delivered to your door. As a result, we continue to expect growth in 2020, with our positive outlook aligned with industry analyst expectations for all e-Commerce- focused companies.
“We continue to work to elevate our profile in the financial community, since we believe the market valuation for a company like ours with $34.6 million in subscription-based revenue should garner a several times multiple in its price-to-revenue ratio. Publicly traded Software-as-a-Service and Platform-as-a-Service companies in our peer group typically trade at an average of around 10x revenues. Other microcap comparables trade at around 4x to 5x revenues on average, still considerably above our trading range. We expect the revenue and synergistic offerings of Push should drive our valuation even higher.
“We understand the benefit to our valuation of uplisting to a national exchange, and that such a listing would provide our investors with better trade execution and liquidity, as well as increase our visibility with retail and institutional investors. Near the end of February, we implemented a 1-for-13 reverse split of our common stock to allow our stock price to meet listing requirements. No one anticipated that so soon after that the spread of the coronavirus would hit the U.S. so hard and crush the financial markets. But we are continuing to advance the application process and hope to receive approval soon.
“To drive business growth and expansion, for the remainder of 2020 we will continue to focus on supporting our channel partners and enhancing our platform offerings. We expect margins to improve as we introduce more value-added services and increase our revenue base. We will also continue to evaluate a number of attractive merger and acquisition opportunities. We have the team and infrastructure to execute on our strategic business plan, but we also plan to continue to invest in our platform and people, with a focus on global expansion and user growth above all else. Given our momentum and proven differentiated products and strategies that address large and growing global markets, we anticipate finishing the year better and stronger than ever before.
“We came into 2020 with an annualized run rate of more than $48.6 million, or $60.6 million on a combined pro forma basis with Push. This compares to the $34.6 million in revenue for Weyland alone in 2019. In Q1 2020, we anticipate combined revenue of more than $15 million, with Push contributing to this more than $3 million. Given these results, we believe we remain on track for another year of double-digit organic growth, and triple digit acquisitive growth when factoring in the contribution of Push.”
2019 Financial Summary
Revenue increased 53% to a record $34.6 million in 2019, as compared to $22.7 million in 2018. The increase was due to a push for market share for the CreateApp platform during 2019 in highly competitive emerging markets as well as new subscriptions sold to existing customers and subscriptions sold directly to new customers.
Gross profit increased 55% to $6.2 million or 18.0% of revenue compared to $4.0 million or 17.7% of revenue in 2018.
Total operating expenses increased 62% to $12.8 million from $7.9 million in 2018.
Net loss was $6.5 million or $(0.11) per basic and fully diluted share, compared to net loss of $4.1 million or $(0.14) per basic and fully diluted share in the same year-ago period.
At December 31, 2019, cash and cash equivalents totaled $3.0 million, compared to $0.7 million on December 31, 2018. The increase was primarily the result of proceeds from an equity offering.
Guidance
In Q1 2020, the company anticipates revenue of approximately $15 million, with the contribution of its new Push Interactive subsidiary totalling more than $3 million.
Conference Call
Weyland management will host a conference call to discuss its fourth quarter 2019 results tomorrow morning, followed by a question and answer period.
Date: Monday, March 30, 2020
Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time)
Toll-free dial-in number: 1-888-394-8218
International dial-in number: 1-323-701-0225
Conference ID: 6710935
Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact CMA at 1-949-432-7566.
A replay of the call will be available after 8:00 p.m. Eastern time on the same day through April 13, 2020, as well as available for replay via the Investors section of the Weyland Tech website at weyland-tech.com/ir/.
Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 6710935
About Weyland Tech
Weyland Tech is a developer and global provider of mobile business software applications. The company operates its CreateApp™ platform-as-a-service (PaaS) across three continents and 10 countries, including some of the fastest-growing emerging markets in Southeast Asia. The platform provides a mobile presence for small-and-medium sized businesses (SMBs) that is supported locally by distributor partnerships.
Offered in 14 languages with more than 70 integrated modules, CreateApp enables SMBs to create and deploy native mobile applications for Apple iOS and Google Android without technical knowledge or background. The technology empowers SMBs to increase sales, reach more customers, manage logistics, and promote their products and services in an easy, affordable and highly efficient way. For more information, visit weyland-tech.com.
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[h=1]Weyland Tech’s AtozGo Expands Popular Food Delivery Service to Residential Consumers in Jakarta[/h][h=2][/h][FONT="]https://www.globenewswire.com/news-...ice-to-Residential-Consumers-in-Jakarta.html#[FONT="][/FONT][FONT="][/FONT][FONT="][/FONT][FONT="][/FONT][FONT="][/FONT]Email [FONT="][/FONT]Print Friendly [FONT="][/FONT]Share
April 28, 2020 08:31 ET | Source: Weyland Tech Inc.
Powered by Weyland’s m-Commerce technology and the AtozPay™ mobile payment platform, AtozGo allows users to easily pay for their deliveries and services using their AtozPay e-Wallet. Many city tenants have already been using the AtozPay fintech solution to pay their phone, utility, rent and other personal bills, with more than $24 million being transacted on the platform annually and growing.
AtozGo makes delivery of food or services from local establishments quick and easy, and over the last eight months since its launch, the number of AtozGo registered users has grown to more than 105,000. The service has also attracted more than 1,000 delivery people, up from 680 just a month ago, by providing very flexible hours and unlimited income potential. This rapid growth resulted in a record 17,500 orders delivered in a single day. Driven by the new residential launch, AtozGo’s customer base is expected to grow to more than 1 million by year end.
The city’s total residential population of more than 30 million, along with historically more than 3.5 million commuting daily, Jakarta was an ideal location to launch AtozGo. The company’s runner-based approach for a densely populated urban center like Jakarta reduces the typical delivery time by about a third, or around 15 minutes, as compared to competing services.
“Our launch into residential was long planned but recently accelerated due to the stay-at-home orders enacted over the last several weeks in order to curb the spread of the coronavirus,” noted Djunaedy Hermawanto, CEO of Weyland Indonesia Perkasa which operates AtozPay and AtozGo. “Last month, we began seeing workers ordering household items to the office, and realized they were doing this in order to avoid going out to the store later.”
“As anticipated, our success with AtozGo has attracted the attention of other larger delivery service providers who traditionally operate in areas that require motorized delivery,” said Hermawanto. “We’ve welcomed partnerships, like we announced with GrabFood last fall, and have continued to be engaged in a number of ongoing discussions that could involve a potential buyer of AtozGo or other major partnerships.”
“We’re considering these options since the valuations of app-based food delivery services like AtozGo are highly favorable,” continued Hermawanto. “If you look across the industry landscape, whether is an Uber Eats, DoorDash or Instacart, or even similar services in Southeast Asia, like GrabFood or Go-Food, the average value applied per user has been around $330. For AtozGo, this would imply a standalone valuation of more than $34 million.
“Today, these services are barely able to keep up with the rapid growth in demand, and analysts are predicting a permanent favorable change in customer behavior when it comes to home delivery. Combined with AtozGo’s unique approach to the market rapidly gaining ground, we see our value strengthening with every passing day.”
About Weyland Tech
Weyland Tech is a developer and global provider of mobile business software applications. The company operates its CreateApp™ platform-as-a-service (PaaS) across three continents and 10 countries, including some of the fastest-growing emerging markets in Southeast Asia. The platform provides a mobile presence for small-and-medium sized businesses (SMBs) that is supported locally by distributor partnerships.
Offered in 14 languages with more than 70 integrated modules, CreateApp enables SMBs to create and deploy native mobile applications for Apple iOS and Google Android without technical knowledge or background. The technology empowers SMBs to increase sales, reach more customers, manage logistics, and promote their products and services in an easy, affordable and highly efficient way.
Earlier this year, Weyland completed the acquisition of the Minneapolis-based eCommerce technology company, Push Interactive. Push provides an eCommerce marketing solution for enterprises and major U.S. brands, including HomeAdvisor, QuinStreet and Sunrun. For more information, visit weyland-tech.com.
About AtozPay™ and AtozGo™
Through Weyland Tech’s minority-owned subsidiary, Weyland Indonesia Perkasa (WIP), the company operates AtozPay™ and AtozGo™. The AtozPay mobile payments platform serves the burgeoning mCommerce and e-Payment markets in Indonesia, the world’s fourth most populous country. AtozGo is a fast-growing provider of short-distance food delivery and home services from local establishments operated in Jakarta, Indonesia. For more information, visit atozpayindonesia.com.
About Push Interactive
The e-Commerce platform of Weyland’s Push Interactive subsidiary features comprehensive customer acquisition capabilities, highly productive media and channel strategies, well-tuned product promotion and messaging, and sales funnel development and optimization. The direct-to-consumer platform provides an end-to-end solution for SMBs and major brands, allowing these organizations to dramatically increase online revenue while lowering the cost of customer acquisition and order fulfillment. Post-sale, Push supports fulfillment, customer relationship management, and further monetization through re-engagement and remarketing toolsets that enhance customer lifetime value (LTV). For more information about Push Interactive, visit www.pushint.com.
Important Cautions Regarding Forward Looking Statements
This release contains certain “forward-looking statements” relating to the business of the Company. All statements, other than statements of historical fact included herein are “forward-looking statements” including statements regarding: the ability of the Company to successfully integrate Push, the continued growth of the eCommerce segment and the ability of the Company to continue its expansion into that segment; the ability of the Company to attract customers and partners and generate revenues; the ability of the Company to successfully execute its business plan; the business strategy, plans, and objectives of the Company; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.
Company Contact
Brent Suen, CEO
Weyland Tech Inc.
Email contact
Media & Investor Contact
Ronald Both or Grant Stude
CMA
Tel (949) 432-7566
WEYL@cma.team
[/FONT]
[h=1]Weyland Tech’s AtozGo Expands Popular Food Delivery Service to Residential Consumers in Jakarta[/h][h=2][/h][FONT="]https://www.globenewswire.com/news-...ice-to-Residential-Consumers-in-Jakarta.html#[FONT="][/FONT][FONT="][/FONT][FONT="][/FONT][FONT="][/FONT][FONT="][/FONT]Email [FONT="][/FONT]Print Friendly [FONT="][/FONT]Share
April 28, 2020 08:31 ET | Source: Weyland Tech Inc.
Powered by Weyland’s m-Commerce technology and the AtozPay™ mobile payment platform, AtozGo allows users to easily pay for their deliveries and services using their AtozPay e-Wallet. Many city tenants have already been using the AtozPay fintech solution to pay their phone, utility, rent and other personal bills, with more than $24 million being transacted on the platform annually and growing.
AtozGo makes delivery of food or services from local establishments quick and easy, and over the last eight months since its launch, the number of AtozGo registered users has grown to more than 105,000. The service has also attracted more than 1,000 delivery people, up from 680 just a month ago, by providing very flexible hours and unlimited income potential. This rapid growth resulted in a record 17,500 orders delivered in a single day. Driven by the new residential launch, AtozGo’s customer base is expected to grow to more than 1 million by year end.
The city’s total residential population of more than 30 million, along with historically more than 3.5 million commuting daily, Jakarta was an ideal location to launch AtozGo. The company’s runner-based approach for a densely populated urban center like Jakarta reduces the typical delivery time by about a third, or around 15 minutes, as compared to competing services.
“Our launch into residential was long planned but recently accelerated due to the stay-at-home orders enacted over the last several weeks in order to curb the spread of the coronavirus,” noted Djunaedy Hermawanto, CEO of Weyland Indonesia Perkasa which operates AtozPay and AtozGo. “Last month, we began seeing workers ordering household items to the office, and realized they were doing this in order to avoid going out to the store later.”
“As anticipated, our success with AtozGo has attracted the attention of other larger delivery service providers who traditionally operate in areas that require motorized delivery,” said Hermawanto. “We’ve welcomed partnerships, like we announced with GrabFood last fall, and have continued to be engaged in a number of ongoing discussions that could involve a potential buyer of AtozGo or other major partnerships.”
“We’re considering these options since the valuations of app-based food delivery services like AtozGo are highly favorable,” continued Hermawanto. “If you look across the industry landscape, whether is an Uber Eats, DoorDash or Instacart, or even similar services in Southeast Asia, like GrabFood or Go-Food, the average value applied per user has been around $330. For AtozGo, this would imply a standalone valuation of more than $34 million.
“Today, these services are barely able to keep up with the rapid growth in demand, and analysts are predicting a permanent favorable change in customer behavior when it comes to home delivery. Combined with AtozGo’s unique approach to the market rapidly gaining ground, we see our value strengthening with every passing day.”
About Weyland Tech
Weyland Tech is a developer and global provider of mobile business software applications. The company operates its CreateApp™ platform-as-a-service (PaaS) across three continents and 10 countries, including some of the fastest-growing emerging markets in Southeast Asia. The platform provides a mobile presence for small-and-medium sized businesses (SMBs) that is supported locally by distributor partnerships.
Offered in 14 languages with more than 70 integrated modules, CreateApp enables SMBs to create and deploy native mobile applications for Apple iOS and Google Android without technical knowledge or background. The technology empowers SMBs to increase sales, reach more customers, manage logistics, and promote their products and services in an easy, affordable and highly efficient way.
Earlier this year, Weyland completed the acquisition of the Minneapolis-based eCommerce technology company, Push Interactive. Push provides an eCommerce marketing solution for enterprises and major U.S. brands, including HomeAdvisor, QuinStreet and Sunrun. For more information, visit weyland-tech.com.
About AtozPay™ and AtozGo™
Through Weyland Tech’s minority-owned subsidiary, Weyland Indonesia Perkasa (WIP), the company operates AtozPay™ and AtozGo™. The AtozPay mobile payments platform serves the burgeoning mCommerce and e-Payment markets in Indonesia, the world’s fourth most populous country. AtozGo is a fast-growing provider of short-distance food delivery and home services from local establishments operated in Jakarta, Indonesia. For more information, visit atozpayindonesia.com.
About Push Interactive
The e-Commerce platform of Weyland’s Push Interactive subsidiary features comprehensive customer acquisition capabilities, highly productive media and channel strategies, well-tuned product promotion and messaging, and sales funnel development and optimization. The direct-to-consumer platform provides an end-to-end solution for SMBs and major brands, allowing these organizations to dramatically increase online revenue while lowering the cost of customer acquisition and order fulfillment. Post-sale, Push supports fulfillment, customer relationship management, and further monetization through re-engagement and remarketing toolsets that enhance customer lifetime value (LTV). For more information about Push Interactive, visit www.pushint.com.
Important Cautions Regarding Forward Looking Statements
This release contains certain “forward-looking statements” relating to the business of the Company. All statements, other than statements of historical fact included herein are “forward-looking statements” including statements regarding: the ability of the Company to successfully integrate Push, the continued growth of the eCommerce segment and the ability of the Company to continue its expansion into that segment; the ability of the Company to attract customers and partners and generate revenues; the ability of the Company to successfully execute its business plan; the business strategy, plans, and objectives of the Company; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.
Company Contact
Brent Suen, CEO
Weyland Tech Inc.
Email contact
Media & Investor Contact
Ronald Both or Grant Stude
CMA
Tel (949) 432-7566
WEYL@cma.team
[/FONT]
April 28, 2020 08:31 ET | Source: Weyland Tech Inc.
JAKARTA, Indonesia, April 28, 2020 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (OTCQX: WEYL), a leading global Platform-as-a-Service (PaaS) provider of mCommerce, eCommerce and fintech business enablement solutions, has expanded AtozGo™, its popular food delivery service for office workers in Jakarta, Indonesia, to the city’s residential tenants.
The extended service area and hours of operation allows the city’s urbanites to use the AtozGo mobile app to order food from local grocery and convenience stores, as well as other household services, including dry cleaning, shoe repair, maintenance, cleaning and water bottle delivery.
Powered by Weyland’s m-Commerce technology and the AtozPay™ mobile payment platform, AtozGo allows users to easily pay for their deliveries and services using their AtozPay e-Wallet. Many city tenants have already been using the AtozPay fintech solution to pay their phone, utility, rent and other personal bills, with more than $24 million being transacted on the platform annually and growing.
AtozGo makes delivery of food or services from local establishments quick and easy, and over the last eight months since its launch, the number of AtozGo registered users has grown to more than 105,000. The service has also attracted more than 1,000 delivery people, up from 680 just a month ago, by providing very flexible hours and unlimited income potential. This rapid growth resulted in a record 17,500 orders delivered in a single day. Driven by the new residential launch, AtozGo’s customer base is expected to grow to more than 1 million by year end.
The city’s total residential population of more than 30 million, along with historically more than 3.5 million commuting daily, Jakarta was an ideal location to launch AtozGo. The company’s runner-based approach for a densely populated urban center like Jakarta reduces the typical delivery time by about a third, or around 15 minutes, as compared to competing services.
“Our launch into residential was long planned but recently accelerated due to the stay-at-home orders enacted over the last several weeks in order to curb the spread of the coronavirus,” noted Djunaedy Hermawanto, CEO of Weyland Indonesia Perkasa which operates AtozPay and AtozGo. “Last month, we began seeing workers ordering household items to the office, and realized they were doing this in order to avoid going out to the store later.”
“As anticipated, our success with AtozGo has attracted the attention of other larger delivery service providers who traditionally operate in areas that require motorized delivery,” said Hermawanto. “We’ve welcomed partnerships, like we announced with GrabFood last fall, and have continued to be engaged in a number of ongoing discussions that could involve a potential buyer of AtozGo or other major partnerships.”
“We’re considering these options since the valuations of app-based food delivery services like AtozGo are highly favorable,” continued Hermawanto. “If you look across the industry landscape, whether is an Uber Eats, DoorDash or Instacart, or even similar services in Southeast Asia, like GrabFood or Go-Food, the average value applied per user has been around $330. For AtozGo, this would imply a standalone valuation of more than $34 million.
“Today, these services are barely able to keep up with the rapid growth in demand, and analysts are predicting a permanent favorable change in customer behavior when it comes to home delivery. Combined with AtozGo’s unique approach to the market rapidly gaining ground, we see our value strengthening with every passing day.”
About Weyland Tech
Weyland Tech is a developer and global provider of mobile business software applications. The company operates its CreateApp™ platform-as-a-service (PaaS) across three continents and 10 countries, including some of the fastest-growing emerging markets in Southeast Asia. The platform provides a mobile presence for small-and-medium sized businesses (SMBs) that is supported locally by distributor partnerships.
Offered in 14 languages with more than 70 integrated modules, CreateApp enables SMBs to create and deploy native mobile applications for Apple iOS and Google Android without technical knowledge or background. The technology empowers SMBs to increase sales, reach more customers, manage logistics, and promote their products and services in an easy, affordable and highly efficient way.
Earlier this year, Weyland completed the acquisition of the Minneapolis-based eCommerce technology company, Push Interactive. Push provides an eCommerce marketing solution for enterprises and major U.S. brands, including HomeAdvisor, QuinStreet and Sunrun. For more information, visit weyland-tech.com.
About AtozPay™ and AtozGo™
Through Weyland Tech’s minority-owned subsidiary, Weyland Indonesia Perkasa (WIP), the company operates AtozPay™ and AtozGo™. The AtozPay mobile payments platform serves the burgeoning mCommerce and e-Payment markets in Indonesia, the world’s fourth most populous country. AtozGo is a fast-growing provider of short-distance food delivery and home services from local establishments operated in Jakarta, Indonesia. For more information, visit atozpayindonesia.com.
About Push Interactive
The e-Commerce platform of Weyland’s Push Interactive subsidiary features comprehensive customer acquisition capabilities, highly productive media and channel strategies, well-tuned product promotion and messaging, and sales funnel development and optimization. The direct-to-consumer platform provides an end-to-end solution for SMBs and major brands, allowing these organizations to dramatically increase online revenue while lowering the cost of customer acquisition and order fulfillment. Post-sale, Push supports fulfillment, customer relationship management, and further monetization through re-engagement and remarketing toolsets that enhance customer lifetime value (LTV). For more information about Push Interactive, visit www.pushint.com.
Important Cautions Regarding Forward Looking Statements
This release contains certain “forward-looking statements” relating to the business of the Company. All statements, other than statements of historical fact included herein are “forward-looking statements” including statements regarding: the ability of the Company to successfully integrate Push, the continued growth of the eCommerce segment and the ability of the Company to continue its expansion into that segment; the ability of the Company to attract customers and partners and generate revenues; the ability of the Company to successfully execute its business plan; the business strategy, plans, and objectives of the Company; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.
Company Contact
Brent Suen, CEO
Weyland Tech Inc.
Email contact
Media & Investor Contact
Ronald Both or Grant Stude
CMA
Tel (949) 432-7566
WEYL@cma.team
[/FONT]
[h=1]Weyland Tech’s AtozGo Expands Popular Food Delivery Service to Residential Consumers in Jakarta[/h][h=2][/h][FONT="]https://www.globenewswire.com/news-...ice-to-Residential-Consumers-in-Jakarta.html#[FONT="][/FONT][FONT="][/FONT][FONT="][/FONT][FONT="][/FONT][FONT="][/FONT]Email [FONT="][/FONT]Print Friendly [FONT="][/FONT]Share
April 28, 2020 08:31 ET | Source: Weyland Tech Inc.
JAKARTA, Indonesia, April 28, 2020 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (OTCQX: WEYL), a leading global Platform-as-a-Service (PaaS) provider of mCommerce, eCommerce and fintech business enablement solutions, has expanded AtozGo™, its popular food delivery service for office workers in Jakarta, Indonesia, to the city’s residential tenants.
The extended service area and hours of operation allows the city’s urbanites to use the AtozGo mobile app to order food from local grocery and convenience stores, as well as other household services, including dry cleaning, shoe repair, maintenance, cleaning and water bottle delivery.
Powered by Weyland’s m-Commerce technology and the AtozPay™ mobile payment platform, AtozGo allows users to easily pay for their deliveries and services using their AtozPay e-Wallet. Many city tenants have already been using the AtozPay fintech solution to pay their phone, utility, rent and other personal bills, with more than $24 million being transacted on the platform annually and growing.
AtozGo makes delivery of food or services from local establishments quick and easy, and over the last eight months since its launch, the number of AtozGo registered users has grown to more than 105,000. The service has also attracted more than 1,000 delivery people, up from 680 just a month ago, by providing very flexible hours and unlimited income potential. This rapid growth resulted in a record 17,500 orders delivered in a single day. Driven by the new residential launch, AtozGo’s customer base is expected to grow to more than 1 million by year end.
The city’s total residential population of more than 30 million, along with historically more than 3.5 million commuting daily, Jakarta was an ideal location to launch AtozGo. The company’s runner-based approach for a densely populated urban center like Jakarta reduces the typical delivery time by about a third, or around 15 minutes, as compared to competing services.
“Our launch into residential was long planned but recently accelerated due to the stay-at-home orders enacted over the last several weeks in order to curb the spread of the coronavirus,” noted Djunaedy Hermawanto, CEO of Weyland Indonesia Perkasa which operates AtozPay and AtozGo. “Last month, we began seeing workers ordering household items to the office, and realized they were doing this in order to avoid going out to the store later.”
“As anticipated, our success with AtozGo has attracted the attention of other larger delivery service providers who traditionally operate in areas that require motorized delivery,” said Hermawanto. “We’ve welcomed partnerships, like we announced with GrabFood last fall, and have continued to be engaged in a number of ongoing discussions that could involve a potential buyer of AtozGo or other major partnerships.”
“We’re considering these options since the valuations of app-based food delivery services like AtozGo are highly favorable,” continued Hermawanto. “If you look across the industry landscape, whether is an Uber Eats, DoorDash or Instacart, or even similar services in Southeast Asia, like GrabFood or Go-Food, the average value applied per user has been around $330. For AtozGo, this would imply a standalone valuation of more than $34 million.
“Today, these services are barely able to keep up with the rapid growth in demand, and analysts are predicting a permanent favorable change in customer behavior when it comes to home delivery. Combined with AtozGo’s unique approach to the market rapidly gaining ground, we see our value strengthening with every passing day.”
About Weyland Tech
Weyland Tech is a developer and global provider of mobile business software applications. The company operates its CreateApp™ platform-as-a-service (PaaS) across three continents and 10 countries, including some of the fastest-growing emerging markets in Southeast Asia. The platform provides a mobile presence for small-and-medium sized businesses (SMBs) that is supported locally by distributor partnerships.
Offered in 14 languages with more than 70 integrated modules, CreateApp enables SMBs to create and deploy native mobile applications for Apple iOS and Google Android without technical knowledge or background. The technology empowers SMBs to increase sales, reach more customers, manage logistics, and promote their products and services in an easy, affordable and highly efficient way.
Earlier this year, Weyland completed the acquisition of the Minneapolis-based eCommerce technology company, Push Interactive. Push provides an eCommerce marketing solution for enterprises and major U.S. brands, including HomeAdvisor, QuinStreet and Sunrun. For more information, visit weyland-tech.com.
About AtozPay™ and AtozGo™
Through Weyland Tech’s minority-owned subsidiary, Weyland Indonesia Perkasa (WIP), the company operates AtozPay™ and AtozGo™. The AtozPay mobile payments platform serves the burgeoning mCommerce and e-Payment markets in Indonesia, the world’s fourth most populous country. AtozGo is a fast-growing provider of short-distance food delivery and home services from local establishments operated in Jakarta, Indonesia. For more information, visit atozpayindonesia.com.
About Push Interactive
The e-Commerce platform of Weyland’s Push Interactive subsidiary features comprehensive customer acquisition capabilities, highly productive media and channel strategies, well-tuned product promotion and messaging, and sales funnel development and optimization. The direct-to-consumer platform provides an end-to-end solution for SMBs and major brands, allowing these organizations to dramatically increase online revenue while lowering the cost of customer acquisition and order fulfillment. Post-sale, Push supports fulfillment, customer relationship management, and further monetization through re-engagement and remarketing toolsets that enhance customer lifetime value (LTV). For more information about Push Interactive, visit www.pushint.com.
Important Cautions Regarding Forward Looking Statements
This release contains certain “forward-looking statements” relating to the business of the Company. All statements, other than statements of historical fact included herein are “forward-looking statements” including statements regarding: the ability of the Company to successfully integrate Push, the continued growth of the eCommerce segment and the ability of the Company to continue its expansion into that segment; the ability of the Company to attract customers and partners and generate revenues; the ability of the Company to successfully execute its business plan; the business strategy, plans, and objectives of the Company; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.
Company Contact
Brent Suen, CEO
Weyland Tech Inc.
Email contact
Media & Investor Contact
Ronald Both or Grant Stude
CMA
Tel (949) 432-7566
WEYL@cma.team
[/FONT]
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[h=1]Weyland Tech Reports Revenue up 76% to Record $15.0 Million in Q1 2020[/h][h=2][/h][FONT="]https://www.globenewswire.com/news-...up-76-to-Record-15-0-Million-in-Q1-2020.html#[FONT="][/FONT][FONT="][/FONT][FONT="][/FONT][FONT="][/FONT][FONT="][/FONT]Email [FONT="][/FONT]Print Friendly [FONT="][/FONT]Share
May 15, 2020 10:28 ET | Source: Weyland Tech Inc.
NEW YORK, May 15, 2020 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (OTCQX: WEYL), a leading global provider of mCommerce platform-as-a-service (PaaS), reported results for the first quarter ended March 31, 2020. All quarterly comparisons are to the same year-ago period unless otherwise noted.
Q1 Financial Highlights
- Revenue increased 76% to a record $15.0 million. The increase was due to a $3.3 million or 38% increase in subscription revenue generated by the company’s CreateApp B2B mCommerce platform and $3.2 million contributed by its new Push Interactive subsidiary acquired on January 8, 2020.
- Consolidated gross profit increased 75% to $2.6 million or 17.7% of consolidated revenue.
- Cash and cash equivalents and restricted cash totaled $4.0 million at March 31, 2020.
- Acquired the assets and operations of Push Holdings to launch mobile apps in North America leveraging Weyland’s mCommerce and mobile fintech solutions, as well as offer Push’s eCommerce products and services globally.
- Partnered with Indosat Ooredoo, Indonesia’s second largest telecom provider, to launch a nationwide marketing campaign for CreateApp in Indonesia.
- Launched CreateApp in Taiwan to reach the more than 1.3 million small-and-medium sized businesses (SMBs) across the country and help them easily establish a mobile presence.
- Partnered with Medias-Com’S SA, a Swiss company specializing in media and communication in order to launch its CreateApp mobile commerce platform-as-a-service in Italy.
- Increased adoption of CreateApp mobile app solution for small and medium-sized businesses, which included existing customers subscribing to additional features and modules. The CreateApp user base, comprised of businesses across Southeast Asia, grew to more than 390,000 during the quarter.
“Our record topline performance in the first quarter was primarily due to the continued adoption of our CreateApp Platform-as-a-Service by SMBs, plus a nearly full quarter of revenue generated from Push Interactive that we acquired on January 8th,” said Weyland Tech CEO, Brent Suen. “CreateApp and Push both provide ‘e-Commerce enablement,’ with these services now becoming more important than ever for businesses and brands in an increasingly mobile world.
“Key to our acquisition of Push is how it provides brands for which CreateApp can launch mobile Apps globally. Push’s eCommerce platform is also synergistic to our m-Commerce technologies deployed in Indonesia, including AtozGo, our hyper-local, ‘foot-powered’ food delivery service operating in Jakarta.
“We recently reported that the number of registered users for AtozGo reached more than 100,000. This major milestone was achieved within only eight months since AtozGo’s official launch. We still see AtozGo hitting 1 million registered users by year-end despite the impact of COVID-19 on businesses given the service’s recent expansion into the residential market. The residential launch was long planned but was accelerated due to the stay-at-home orders and shift to working from home.
“As with CreateApp, our primary focus with AtozGo has always been on user and transaction growth, and this strategy has been highly successful. As expected, our unique approach with AtozGo, powered by an innovative mobile app, has now attracted the attention of larger delivery service providers who traditionally use only motorized delivery. We are now actively involved in discussions with a potential buyer or major partner for AtozGo.
“The valuations of app-based food delivery services are highly favorable. Whether it's an Uber Eats or GrubHub, or even similar services in Southeast Asia like GrabFood or Go-Food, the average value per user is pegged at around $330. For AtozGo, this would imply a stand-alone valuation of around $33 million, and that is just as of today. If we hit our goal of 1 million users by year-end, the valuation would come in at 10 times that or nearly $330 million.
“SMBs in the markets we serve have become increasingly aware that selling online is important and worth a premium to use a service like CreateApp to sell more. To better serve our target customers and optimize our price points, we realigned our CreateApp platform into 10 modules, reducing it from 70. So, now within each of these 10 modules are multiple functions we previously offered separately. We discovered that by offering a more streamlined set of modules, with each having greater functionality, it makes it easier to sell subscriptions to the platform and charge an overall higher price. We see this also supporting greater gross margins on these subscription-based revenues.
“However, over the near term, with the shutdowns continuing in Southeast Asia due to COVID-19, we’ve begun to see the impact on small businesses in a region that represents virtually all of our current CreateApp customers. Like many subscriber-based businesses are doing these days, we have the flexibility give our distributors, through whom we primarily sell CreateApp, the flexibility to selectively extend CreateApp subscriptions from 30 to 90 days without charge.
“As we all know, once a customer is lost, it is much more difficult to bring them back. So, we believe this is not only good for customers but also for Weyland, as sustaining our customer base is key. Over the short term, we will incur some special COVID-19 related charges related to reduced service revenues. The full amount we cannot determine until the end of the quarter or year. But over the longer term, we believe supporting our customers and distributors in this way will provide a stronger foundation for future growth.
“The impact of COVID-19 on our Push Interactive business in the U.S. has been considerably less than for CreateApp. In fact, we recently saw two of Push’s larger and higher profile customers step up their business activity. These major customers also tend be timelier with their payments, reducing our accounts receivable.
“We are continuing to explore how we can leverage CreateApp to build native mobile apps for Push brands and enterprise customers in the U.S., as well as synergic ways we can drive growth across our global operations. We believe Push’s data-driven strategies can help us grow its business and reach $13 million to $15 million in revenue in 2020, with margins improving to approximately 20%.
“Our planned NASDAQ up-listing is progressing, but like many things these days, has been slowed by the distraction of the pandemic. At this point, we still have little indication of timing, but are also considering alternatives that have come to us unsolicited. We hope to provide more details as these progress. Clearly, from a capital markets perspective, there is a lot of unrealized or unrecognized value in Weyland Tech.
“Looking ahead, we remain optimistic about the continued demand for our products and services and look forward to Weyland hitting key milestones and becoming a more commercially successful, profitable business. While we expect Q2 to have its challenges due to the continuing global pandemic, we see the second half of the year trending back up as Southeast Asia opens up, and as our new operations in the U.S. help us transition to a more valuable, data-driven organization.”
Q1 2020 Financial Summary
Revenue increased 76% to a record $15.0 million in the first quarter of 2020, as compared to $8.5 million in Q1 2019. The increase was due to increased service income and inclusion of $3.2 million from its new Push Interactive subsidiary acquired in January 2020.
Gross profit increased 75% to $2.6 million or 17.7% of revenue in Q1 2020 compared to $1.5 million or 17.7% of revenue in the same year ago period.
Total operating expenses increased 256% to $5.5 million in Q1 2020 from $1.5 million in the same year ago period. The increase was primarily due to inclusion of $1.0 million in G&A expenses from its new Push Interactive subsidiary, as well as due to an increase in R&D, depreciation and amortization, and sales and marketing.
Net loss was $2.8 million or $(0.24) per basic and fully diluted share, compared to net loss of $27,000 or $(0.00) per basic and fully diluted share in the same year-ago period.
At March 31, 2020, cash and cash equivalents totaled $3.0 million, restricted cash of $1 million, compared to cash and cash equivalents of $3.0 million at December 31, 2019. The increase was primarily the result of additional cash as a result of the Push acquisition.
Conference Call
Weyland CEO Brent Suen will host a conference call later today to discuss the company’s first quarter 2020 results, followed by a question and answer period. He will be joined by the company’s CFO Lionel Choong, as well as Push Interactive CFO Rod Granero and Push Interactive Chief Technology Officer Tom Furukawa.
Date: Friday, May 15, 2020
Time: 11:00 a.m. Eastern time (8:00 a.m. Pacific time)
Toll-free dial-in number: 1-800-289-0438
International dial-in number: 1-323-794-2423
Conference ID: 1704393
Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact CMA at 1-949-432-7566.
A replay of the call will be available after 2:00 p.m. Eastern time on the same day through May 29, 2020, as well as available for replay via the Investors section of the Weyland Tech website at weyland-tech.com/ir/.
Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 1704393
About Weyland Tech
Weyland Tech is a developer and global provider of mobile business software applications. The company operates its CreateApp™ platform-as-a-service (PaaS) across three continents and 10 countries, including some of the fastest-growing emerging markets in Southeast Asia. The platform provides a mobile presence for small-and-medium sized businesses (SMBs) that is supported locally by distributor partnerships.
Offered in 14 languages with more than 70 integrated modules, CreateApp enables SMBs to create and deploy native mobile applications for Apple iOS and Google Android without technical knowledge or background. The technology empowers SMBs to increase sales, reach more customers, manage logistics, and promote their products and services in an easy, affordable and highly efficient way.
Earlier this year, Weyland completed the acquisition of the Minneapolis-based eCommerce technology company, Push Interactive. Push provides an eCommerce marketing solution for enterprises and major U.S. brands. For more information, visit weyland-tech.com.
About AtozPay™ and AtozGo™
Through Weyland Tech’s minority-owned subsidiary, Weyland Indonesia Perkasa (WIP), the company operates AtozPay™ and AtozGo™. The AtozPay mobile payments platform serves the burgeoning mCommerce and e-Payment markets in Indonesia, the world’s fourth most populous country. AtozGo is a fast-growing provider of short-distance food delivery and home services from local establishments operated in Jakarta, Indonesia. For more information, visit atozpayindonesia.com.
About Push Interactive
The e-Commerce platform of Weyland’s Push Interactive subsidiary features comprehensive customer acquisition capabilities, highly productive media and channel strategies, well-tuned product promotion and messaging, and sales funnel development and optimization. The direct-to-consumer platform provides an end-to-end solution for SMBs and major brands, allowing these organizations to dramatically increase online revenue while lowering the cost of customer acquisition and order fulfillment. Post-sale, Push supports fulfillment, customer relationship management, and further monetization through re-engagement and remarketing toolsets that enhance customer lifetime value (LTV). For more information about Push Interactive, visit www.pushint.com.
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[h=1]Weyland Tech’s AtozGo Expansion into Residential Jakarta Reaches 500 Deliveries Per Day as City Begins to Reopen[/h][h=2][/h][FONT="]https://www.globenewswire.com/news-...veries-Per-Day-as-City-Begins-to-Reopen.html#[FONT="][/FONT][FONT="][/FONT][FONT="][/FONT][FONT="][/FONT][FONT="][/FONT]Email [FONT="][/FONT]Print Friendly [FONT="][/FONT]Share
June 12, 2020 08:31 ET | Source: Weyland Tech Inc.
NEW YORK, June 12, 2020 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (OTCQX: WEYL), a leading global provider of mCommerce platform-as-a-service (PaaS), reported that the recently announced expansion of the AtozGo™ delivery service into residential Jakarta has now reached 500 deliveries per day being ordered by more than 2,000 registered residential users.
The service has also attracted now more than 1,000 delivery people, up from 680 in March, by providing flexible hours and unlimited income potential. Many new merchants have also signed up for AtozGo, now totaling 21,000, providing a broader selection of options available to AtozGo customers.
Previously available only to city office workers, in April AtozGo extended its service area and hours of operation to allow the Indonesian city’s urbanites to use its mobile app to order food from local grocery and convenience stores. Residents can also order household services, including dry cleaning, shoe repair, maintenance, cleaning and water bottle delivery.
After being in a COVID-19 lockdown since early March, over the next few weeks, workplaces, places of worship, shopping centers and recreational venues are expected to gradually reopen, as reported by the Straits Times. They will be required to follow certain health guidelines, including operating at 50 percent capacity and requiring individuals to maintain a distance of one meter.
Powered by Weyland’s m-Commerce technology and the AtozPay™ mobile payment platform, AtozGo supports these guidelines by allowing customers to easily order and pay for deliveries and services using AtozGo and their AtozPay e-Wallet.
Many residents have already been using the AtozPay fintech solution to pay their phone, utility, rent and other personal bills. AtozPay transaction volume was virtually unaffected by COVID-19, with an annualized gross transaction volume on pace at more than $15 million over the last few months.
Based on the momentum AtozGo was experiencing pre-pandemic, the company anticipates that as the city returns to normal over the next few weeks, deliveries will increase from around 15,000 overall to more than 20,000 deliveries per day, with the number of registered users to grow from more than 100,000 to more than 150,000.
“As we scale up, we see delivery growth to be driven largely by new residential users who typically make larger orders with higher dollar amounts compared to office workers who primarily use the service for ordering lunch,” noted Djunaedy Hermawanto, CEO of Weyland Indonesia Perkasa which operates AtozPay and AtozGo. “While today we have only 2,000 residential customers, they generate 500 deliveries per day, which is a much higher ratio than our office worker component. So, we see great potential to increase transaction volume and size by scaling up the number of residential users.”
The city’s total residential population of more than 30 million, along with historically more than 3.5 million commuting daily, Jakarta was an ideal location to launch AtozGo. The company’s runner-based approach for a densely populated urban center like Jakarta reduces the typical delivery time by about a third, or around 15 minutes, as compared to competing services.
“Given our continued success with our unique delivery system, we have continued to be engaged in a number of ongoing discussions that could involve a potential buyer of AtozGo or other major partnerships,” said Hermawanto. “We continue to anticipate a related transaction before the end of year.”
“We’re considering these options since the valuations of app-based food delivery services like AtozGo are highly favorable,” continued Hermawanto. “If you look across the industry landscape, whether it’s an Uber Eats, DoorDash or Instacart, or even similar services in Southeast Asia, like GrabFood or Go-Food, the average value applied per user has been around $330. For AtozGo, this would imply a standalone valuation today of more than $33 million.”
Food delivery services today are barely able to keep up with the rapid growth in demand, and analysts are predicting a permanent favorable change in customer behavior when it comes to home delivery. Combined with AtozGo’s unique approach to the market rapidly gaining ground, its value continues to increase with every passing day.
About Weyland Tech
Weyland Tech is a developer and global provider of mobile business software applications. The company operates its CreateApp™ platform-as-a-service (PaaS) across three continents and 10 countries, including some of the fastest-growing emerging markets in Southeast Asia. The platform provides a mobile presence for small-and-medium sized businesses (SMBs) that is supported locally by distributor partnerships.
Offered in 14 languages with more than 10 integrated modules, CreateApp enables SMBs to create and deploy native mobile applications for Apple iOS and Google Android without technical knowledge or background. The technology empowers SMBs to increase sales, reach more customers, manage logistics, and promote their products and services in an easy, affordable, and highly efficient way.
Earlier this year, Weyland completed the acquisition of the Minneapolis-based eCommerce technology company, Push Interactive. Push provides an eCommerce marketing solution for enterprises and major U.S. brands. For more information, visit weyland-tech.com.
About AtozPay™ and AtozGo™
Through Weyland Tech’s minority-owned subsidiary, Weyland Indonesia Perkasa (WIP), the company operates AtozPay™ and AtozGo™. The AtozPay mobile payments platform serves the burgeoning mCommerce and e-Payment markets in Indonesia, the world’s fourth most populous country. AtozGo is a fast-growing provider of short-distance food delivery and home services from local establishments operated in Jakarta, Indonesia. For more information, visit atozpayindonesia.com.
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