$WEYL Also contributing to the increase in recurri
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Posted On: 01/27/2020 11:50:06 AM
$WEYL Also contributing to the increase in recurring revenue was the adoption by existing customers of new features and modules added to the platform, which helped drive increased average CreateApp subscription fees per customer.
Earlier this month, the company completed its acquisition of the eCommerce technology company, Push Interactive, a direct-to-consumer eCommerce platform that provides an end-to-end solution for SMBs and major U.S. brands, like HomeAdvisor, QuinStreet and Sunrun.
Push Interactive sustained a significant return to growth in the second half of 2019, and anticipates reporting revenue of $1.9 million for the fourth quarter of 2019 and $7.7 million for the full year, primarily derived from managed services. Given new business transacted in the later part of the fourth quarter, Push estimates its annualized run-rate at year-end totaled more than $12 million, with an outlook for continued strong growth in 2020.
On a combined pro forma basis, the companies anticipate reporting $11.9 million in revenue for the fourth quarter of 2019, with total revenue of $42.3 million for the year. The combined annualized run rate on a pro forma basis totaled more than $60.6 million at year-end.
Weyland also reported that the new AtozGo™ local food delivery service launched last summer in Jakarta, Indonesia, by its mobile payments subsidiary, AtozPay™, has reached a registered customer base of 74,000 mobile users. About 22% of the userbase has been generating more than 15,400 deliveries per day. AtozGo has also nearly reached breakeven, which compares to global competitors which report 2%-3% average customer usage and expect continued losses for the next few years. AtozGo plans to continue to reinvest in user growth and regional expansion with its unique pedestrian-powered approach to urban food delivery. AtozPay’s total gross mobile transaction volume totaled $16 million in 2019.
“Our record results for 2019 reflect the strategic investments we made over the last few years to grow customer demand, leverage our distribution partnerships, and continually enhance our CreateApp PaaS based on customer feedback,” noted Weyland Tech CEO, Brent Suen. “This has resulted in a rapidly expanding customer base with low attrition, along with an increasing average revenue per customer. We have also benefited from markets with exceptionally strong growth in smartphone-driven m-Commerce, making CreateApp increasingly relevant and essential to businesses looking for a competitive edge in an increasingly mobile world.”
https://www.wsj.com/articles/PR-CO-20200127-905259
Earlier this month, the company completed its acquisition of the eCommerce technology company, Push Interactive, a direct-to-consumer eCommerce platform that provides an end-to-end solution for SMBs and major U.S. brands, like HomeAdvisor, QuinStreet and Sunrun.
Push Interactive sustained a significant return to growth in the second half of 2019, and anticipates reporting revenue of $1.9 million for the fourth quarter of 2019 and $7.7 million for the full year, primarily derived from managed services. Given new business transacted in the later part of the fourth quarter, Push estimates its annualized run-rate at year-end totaled more than $12 million, with an outlook for continued strong growth in 2020.
On a combined pro forma basis, the companies anticipate reporting $11.9 million in revenue for the fourth quarter of 2019, with total revenue of $42.3 million for the year. The combined annualized run rate on a pro forma basis totaled more than $60.6 million at year-end.
Weyland also reported that the new AtozGo™ local food delivery service launched last summer in Jakarta, Indonesia, by its mobile payments subsidiary, AtozPay™, has reached a registered customer base of 74,000 mobile users. About 22% of the userbase has been generating more than 15,400 deliveries per day. AtozGo has also nearly reached breakeven, which compares to global competitors which report 2%-3% average customer usage and expect continued losses for the next few years. AtozGo plans to continue to reinvest in user growth and regional expansion with its unique pedestrian-powered approach to urban food delivery. AtozPay’s total gross mobile transaction volume totaled $16 million in 2019.
“Our record results for 2019 reflect the strategic investments we made over the last few years to grow customer demand, leverage our distribution partnerships, and continually enhance our CreateApp PaaS based on customer feedback,” noted Weyland Tech CEO, Brent Suen. “This has resulted in a rapidly expanding customer base with low attrition, along with an increasing average revenue per customer. We have also benefited from markets with exceptionally strong growth in smartphone-driven m-Commerce, making CreateApp increasingly relevant and essential to businesses looking for a competitive edge in an increasingly mobile world.”
https://www.wsj.com/articles/PR-CO-20200127-905259
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