$WEYL The integration of the Weyland and Push platforms is expected to significantly enhance the value proposition for existing and prospective customers. Initial cross-selling opportunities include using CreateApp and AtozPay to support U.S.-based projects and campaigns for Push’s current enterprise customers.
“We recognized tremendous synergies in technology and in our corporate missions right from the start,” commented Haig Newton, co-founder, CEO and president of Push Holdings. “We believe that together we will be able to better help businesses and brands around the world reach more customers, increase their sales, and promote their products and services in an easier, more affordable and highly efficient way.”
Push will provide Weyland a well-established beachhead in North America, allowing it to attract new users to CreateApp and AtozPay quickly and cost-efficiently. This includes greatly reduced customer acquisition costs Weyland could not have achieved on its own. Previously, U.S. customer acquisition costs for CreateApp were estimated at $2-$3 per dollar generated, making market entry economically unfeasible. By leveraging Push’s highly effective marketing technology and operational resources, U.S. customer acquisition cost is expected to be as little as $0.30 on the dollar.
“What we find so amazing about CreateApp is that it requires literally no technical understanding or skills in app design for anyone to build a full-featured custom app in less than two hours,” noted Push Interactive’s chief technology officer, Tom Furukawa. “It’s a Shopify-like solution for mobile that enables businesses and brands to establish a mCommerce presence in an intuitive, do-it-yourself fashion. Layering on our Push platform, CreateApp users gain a fully end-to-end mCommerce solution supported by our team of expert digital media marketers that can enhance their visibility, customer traffic and ultimately conversions.”
As part of a public company, Weyland’s new Push subsidiary will gain easier access to growth capital and be better able to attract additional employee talent. Push can also leverage the cost efficiencies and diverse capabilities of Weyland’s existing 200-person technology and software development team in Jaipur, India, while Weyland gains technical and software development expertise from Push.
Weyland plans to launch CreateApp in the U.S. during the first quarter of 2020. The North American market is expected to support a higher price point for subscription fees as compared to the company’s current market in Southeast Asia. A comparative revenue model of a U.S. industry peer supports 96,000 users at $300 each per month. This is several times higher than the current CreateApp subscription model for Southeast Asia at only $12-$80 per month, depending on optional features implemented.
“Our initial work with Push to introduce CreateApp in the U.S. led to this strategic acquisition, so we have already made strong progress in this regard,” added Suen. “eCommerce is becoming increasingly mobile in the U.S., creating a huge new market opportunity for CreateApp and AtozPay.”
Weyland’s post-acquisition revenue model anticipates that U.S. CreateApp subscription revenues alone could exceed $5 million by end of 2020. This would be in addition to potential new Push offerings adopted by Weyland’s existing international SMB customer base, as well as new AtozPay eWallet and mobile pay integrations in the U.S.
Additional details about the definitive asset purchase agreement are provided in a Form 8-K, available at www.sec.gov and the investor relations section of Weyland Tech’s website at weyland-tech.com.
https://www.bloomberg.com/press-releases/2019...25-million
“We recognized tremendous synergies in technology and in our corporate missions right from the start,” commented Haig Newton, co-founder, CEO and president of Push Holdings. “We believe that together we will be able to better help businesses and brands around the world reach more customers, increase their sales, and promote their products and services in an easier, more affordable and highly efficient way.”
Push will provide Weyland a well-established beachhead in North America, allowing it to attract new users to CreateApp and AtozPay quickly and cost-efficiently. This includes greatly reduced customer acquisition costs Weyland could not have achieved on its own. Previously, U.S. customer acquisition costs for CreateApp were estimated at $2-$3 per dollar generated, making market entry economically unfeasible. By leveraging Push’s highly effective marketing technology and operational resources, U.S. customer acquisition cost is expected to be as little as $0.30 on the dollar.
“What we find so amazing about CreateApp is that it requires literally no technical understanding or skills in app design for anyone to build a full-featured custom app in less than two hours,” noted Push Interactive’s chief technology officer, Tom Furukawa. “It’s a Shopify-like solution for mobile that enables businesses and brands to establish a mCommerce presence in an intuitive, do-it-yourself fashion. Layering on our Push platform, CreateApp users gain a fully end-to-end mCommerce solution supported by our team of expert digital media marketers that can enhance their visibility, customer traffic and ultimately conversions.”
As part of a public company, Weyland’s new Push subsidiary will gain easier access to growth capital and be better able to attract additional employee talent. Push can also leverage the cost efficiencies and diverse capabilities of Weyland’s existing 200-person technology and software development team in Jaipur, India, while Weyland gains technical and software development expertise from Push.
Weyland plans to launch CreateApp in the U.S. during the first quarter of 2020. The North American market is expected to support a higher price point for subscription fees as compared to the company’s current market in Southeast Asia. A comparative revenue model of a U.S. industry peer supports 96,000 users at $300 each per month. This is several times higher than the current CreateApp subscription model for Southeast Asia at only $12-$80 per month, depending on optional features implemented.
“Our initial work with Push to introduce CreateApp in the U.S. led to this strategic acquisition, so we have already made strong progress in this regard,” added Suen. “eCommerce is becoming increasingly mobile in the U.S., creating a huge new market opportunity for CreateApp and AtozPay.”
Weyland’s post-acquisition revenue model anticipates that U.S. CreateApp subscription revenues alone could exceed $5 million by end of 2020. This would be in addition to potential new Push offerings adopted by Weyland’s existing international SMB customer base, as well as new AtozPay eWallet and mobile pay integrations in the U.S.
Additional details about the definitive asset purchase agreement are provided in a Form 8-K, available at www.sec.gov and the investor relations section of Weyland Tech’s website at weyland-tech.com.
https://www.bloomberg.com/press-releases/2019...25-million
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