Breaking #Fintech News:
Weyland Tech's (OTCQX: $WEYL) AtozGo Food Delivery Service Surpasses 49,500
Customers and 14,500 Daily Deliveries in Just Four Months Since Launch
NEW
YORK - November 29, 2019 (Investorideas.com Newswire) Weyland Tech, Inc. (OTCQX: WEYL), a leading global Platform-as-a-Service
(PaaS) provider of m-Commerce and fintech solutions, reported that its AtozGo™ local food delivery service in
Jakarta, Indonesia, has reached a registered customer base of 49,500 mobile
users and 14,500 deliveries per day after only four months since its inaugural
launch in July.
Read this in full
at https://www.investorideas.com/CO/WEYL/news/2019/11291AtozGo-FoodDeliveryService.asp
Powered
by Weyland's m-Commerce technology and the AtozPay™ mobile payment platform, AtozGo
allows office workers and city dwellers to order food delivered from their
local favorite restaurants. Using their smartphone, they can browse menus,
easily order and pay using their AtozPay e-Wallet, and track deliveries to
their door. AtozGo saves the hassle of going out and waiting in line, while
providing a fast and easy way for others to make extra money in their spare
time or even full time.
Unlike
other local food delivery services, such as GrabFood, AtozGo increases the potential number of
available delivery people by not requiring 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 consumers.
Jakarta
was an ideal location to introduce AtozGo, with a residential population of 30
million and 3.5 million commuters. The company's runner-based approach in
densely populated urban center like Jakarta reduced the typical food delivery
time by a third, or to about 15 minutes, as compared to competing services.
"AtozGo's
unique approach and phenomenal growth is generating a tremendous amount of
value," noted Weyland Tech CEO, Brent Suen. "Looking at global
competitors like Uber Eats or DoorDash, and even down to local competitors in
Southeast Asia, such as GrabFood or Go-Foods, their average
value per user is around $330. This implies a stand-alone valuation for AtozGo
of more than $16 million, and we've only just begun.
Jakarta
is just the starting point, with many other cities that are ideal for
expansion."
AtozGo
is currently adding about 1,000 new customers daily using innovative marketing
programs to drive user growth. As it introduces these promotions to more
population dense areas of Jakarta, it expects to increase this rate to
2,000-3,000 per day by the end of the first quarter of 2020.
"Given
the broad market opportunity in Southeast Asia alone," added Suen,
"we 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 next year."
The
food delivery service market in Southeast Asia is estimated at around $13 billion annually.
According to Frost & Sullivan
Through its subsidiary, Weyland Indonesia Perkasa,
Weyland Tech owes 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).
Earlier
this week, Weyland Tech announced plans to acquire Minneapolis-based
Push Holdings. The Push Interactive eCommerce platform is
highly synergistic and complementary to Weyland's mobile technology, and
provides Weyland a well-established U.S. operational platform to introduce its
products and service to North America at a lower cost of customer acquisition
and with higher subscription price points.
About Weyland Tech
Weyland
Tech, Inc. operates as a Fintech focused company and 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, Weyland 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.
The
company's subsidiary, Weyland Indonesia Perkasa (WIP), operates AtozPay and AtozGo. The AtozPay mobile
payments platform serves the burgeoning m-Commerce and e-Payment markets in
Indonesia, the world's fourth most populous country. AtozGo is a fast-growing
short-distance food delivery service in Jakarta, Indonesia.
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 e-commerce 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.
Weyland Tech Inc.
Media & Investor Contact
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