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.
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, 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 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.
For more information, visit www.weyland-tech.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 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.
Brent Suen, CEO
Weyland Tech Inc.
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Ronald Both or Grant Stude
Tel (949) 432-7566
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