Seven Months Since Launch
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
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