as City Begins to Reopen
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.
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