NEW YORK – March 19, 2020 (Investorideas.com Newswire) Weyland Tech, Inc. (OTCQX: WEYL) (OTCQX: $WEYLD) a number one international supplier of mCommerce platform-as-a-service (PaaS), eCommerce managed providers and fintech options, has supplied a company replace.
“Given the subscription-based mannequin of our flagship CreateApp mCommerce platform and the advantages of digital buyer interplay persevering with to drive exercise, we see restricted affect on our core enterprise from COVID-19,” commented Weyland Tech CEO, Brent Suen. “We have had latest minimal impact on productiveness and customer support. To make sure, it stays a fluid scenario, and we are going to proceed to carefully monitor developments and alter accordingly.”
In January, Weyland accomplished the acquisition of the Minneapolis-based eCommerce know-how firm, Push Interactive, which gives an eCommerce advertising and marketing resolution for enterprises and main U.S. manufacturers, together with HomeAdvisor, QuinStreet and Sunrun. The combination has proceeded easily and is now nearly full.
Weyland reported earlier that it exited 2019 at an annualized run charge of greater than $48.6 million, or $60.6 million on a mixed professional forma foundation with Push. This compares to $22.7 million in income for Weyland alone in 2018.
Weyland continues to see development in 2020, with an outlook aligned with trade analyst expectations for different e-Commerce firms like Amazon. Earlier in the present day, JPMorgan analyst, Doug Anmuth, raised his first quarter income estimate for Amazon to $74 billion — $1 billion increased than Amazon’s personal steerage vary.
Based on Anmuth: “eCommerce will profit as closings of bodily shops and concern of public locations ought to speed up the secular shift of retail on-line, which we consider will show sustainable even after the disaster ends.”
Push Interactive co-founder, CEO and president, Haig Newton, commented: “For Push, whereas we’re seeing important ‘noise’ within the channels associated to the coronavirus, there was some disruption on the demand aspect throughout our verticals. We’re always innovating and adapting to drive visitors by our acquisition funnels to fight this. We’re monitoring indicators in demand fluctuations for refinancing mortgages, debt consolidation, insurance policy, and residential renovation initiatives.”
Weyland additionally reported that the variety of registered customers for AtozGo™, the corporate’s well-liked hyper-local meals supply service in Jakarta, Indonesia, has as exceeded greater than 100,000, climbing by greater than 14,000 since mid-February.
The 100,000-user milestone for AtozGo was achieved inside solely eight months for the reason that app’s official launch. AtozGo customers are collectively producing a mean of greater than 15,500 supply orders per day after lately hitting a excessive of 17,500. Whereas down about 10% as a result of ongoing 14-day interval of ‘social distancing’ really helpful by the federal government leading to extra folks not commuting to town and dealing from house, an growing proportion of orders have been for unprepared meals and family provides from native grocery and comfort shops.
Based on Suen: “We consider the uptick in orders for unprepared meals from grocery and comfort shops is because of city customers discovering that AtozGo may help to keep away from potential publicity to the coronavirus whereas out in public or on the retailer. This development can also be being seen within the U.S. by house supply providers like Amazon. For AtozGo, there was a shift so as combine from principally lunchtime workplace employees to extra city residential clients.”
In comparison with different meals and grocery supply providers in Jakarta like GrabFood, AtozGo will increase the potential variety of obtainable supply folks by not requiring that they’ve a motorcar. They merely have to be inside strolling distance of the shopper and native institutions. This helps make the service a extra inexpensive and quicker possibility for city clients.
In February, Weyland carried out a 1-for-13 reverse cut up of its frequent inventory on February 27, 2020. The corporate expects the reverse cut up to permit its inventory worth to satisfy the itemizing necessities for The Nasdaq Capital Market, and it’s at the moment concerned in advancing the appliance and evaluate course of.
The corporate plans to file its 2019 Kind 10-Ok and maintain an investor convention name later this month. Dial-in data will probably be introduced through a press launch previous to the decision.
About Weyland Tech
Weyland Tech is a developer and international supplier of cellular enterprise software program functions. The corporate operates its CreateApp™ platform-as-a-service (PaaS) throughout three continents and 10 international locations, together with a few of the fastest-growing rising markets in Southeast Asia. The platform gives a cellular presence for small-and-medium sized companies (SMBs) that’s supported regionally by distributor partnerships.
Provided in 14 languages with greater than 70 built-in modules, CreateApp permits SMBs to create and deploy native cellular functions for Apple iOS and Google Android with out technical information or background. The know-how empowers SMBs to extend gross sales, attain extra clients, handle logistics, and promote their services and products in a simple, inexpensive and extremely environment friendly method. For extra data, go to weyland-tech.com.
About AtozPay™ and AtozGo™
By Weyland Tech’s minority-owned subsidiary, Weyland Indonesia Perkasa (WIP), the corporate operates AtozPay™ and AtozGo™. The AtozPay cellular funds platform serves the burgeoning mCommerce and e-Fee markets in Indonesia, the world’s fourth most populous nation. AtozGo is a fast-growing short-distance meals supply service operated in Jakarta, Indonesia. For extra data, go to atozpayindonesia.com.
About Push Interactive
The e-Commerce platform of Weyland’s Push Interactive subsidiary options complete buyer acquisition capabilities, extremely productive media and channel methods, well-tuned product promotion and messaging, and gross sales funnel improvement and optimization. The direct-to-consumer platform gives an end-to-end resolution for SMBs and main manufacturers, permitting these organizations to dramatically enhance on-line income whereas reducing the price of buyer acquisition and order achievement. Submit-sale, Push helps achievement, buyer relationship administration, and additional monetization by re-engagement and remarketing toolsets that improve buyer lifetime worth (LTV). For extra details about Push Interactive, go to www.pushint.com.
Essential Cautions Concerning Ahead-Wanting Statements
This launch accommodates sure “forward-looking statements” regarding the enterprise of the Firm. All statements, aside from statements of historic reality included herein are “forward-looking statements” together with statements relating to: the power of the Firm to efficiently combine Push, the continued development of the eCommerce phase and the power of the Firm to proceed its enlargement into that phase; the power of the Firm to draw clients and companions and generate revenues; the power of the Firm to efficiently execute its marketing strategy; the enterprise technique, plans, and aims of the Firm; and another statements of non-historical data. These forward-looking statements are sometimes recognized by way of forward-looking terminology equivalent to “believes,” “expects” or comparable expressions and contain recognized and unknown dangers and uncertainties. Though the Firm believes that the expectations mirrored in these forward-looking statements are affordable, they do contain assumptions, dangers, and uncertainties, and these expectations might show to be incorrect. Traders mustn’t place undue reliance on these forward-looking statements, which communicate solely as of the date of this information launch. The Firm’s precise outcomes may differ materially from these anticipated in these forward-looking statements on account of quite a lot of elements, together with these mentioned within the Firm’s periodic reviews which might be filed with the Securities and Change Fee and obtainable on its web site (www.sec.gov). All forward-looking statements attributable to the Firm or individuals appearing on its behalf are expressly certified of their entirety by these elements. Apart from as required below the securities legal guidelines, the Firm doesn’t assume any obligation to replace these forward-looking statements.
Brent Suen, CEO
Weyland Tech Inc.
Media & Investor Contact
Ronald Each or Grant Stude
Tel (949) 432-7566
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