$WEYL - NEW YORK, Nov. 29, 2019 (GLOBE NEWSWIRE) -
Post# of 10469
(Total Views: 107)
Posted On: 11/29/2019 11:21:19 AM
$WEYL - NEW YORK, Nov. 29, 2019 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (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.
https://seekingalpha.com/pr/17713679-weyland-...deliveries
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.
https://seekingalpha.com/pr/17713679-weyland-...deliveries
(0)
(0)
Consider all my posts my opinion and not advice to buy or sell anything. I post on stocks I own or am considering owning. Do your own DD!