Weyland Tech (WEYL) Provides Shareholder Update on Business Model Evolution
HONG KONG, CHINA–(Marketwired – September 01, 2016) – Weyland Tech Inc. (OTCQB: WEYL) (“Weyland Tech” or the “Company”), a provider of mobile business applications provides a shareholder update on its evolving business model.
Given the nature of DIY mobile apps (“apps”), and the primary target market of Small-Medium-sized-Businesses (“SMB’s”), a typical go-to-market strategy would have direct sales force or resellers approach SMB’s directly to drive license sales.
Over the past eight months, the Company has evolved this model with two distinct market paths to drive recurring revenue sales:
A) Strategic Partnerships in countries/regions where said partners are responsible for targeting SMB’s either thru an installed base of customers OR groups of Direct Sellers with a sales force encompassing SMB’s as end customers.
B) Enterprise Solutions where large retailers (hypermart chains, mall owners, brand owners with company-owned and franchise stores) adopt a ‘Master App’ on a white-label basis, hosted at a 3rd party regional Hosting or Data Center facility.
With the above strategy, we believe that the Company has been able to maintain a lower capital expenditure base due to the ‘level-two’ customer support vs. ‘level-one’ customer support, smaller sales and marketing teams, and the need to provide hosting services.
In addition to the previously announced partnerships this year, the Company is currently in late stage discussions and negotiations with a number of strategic partners and enterprise-sized customers, including major regional and country telecommunications providers, Fortune 500 retailers and ‘affiliate’ groups.
Specific terms of the relationships and agreements will remain confidential for competitive reasons. However, agreements are expected to continue to support a transition from a license model to a multi-year model with subscriptions, m-commerce sharing and advertising revenues.
For further information about Weyland Tech, Inc., contact Rich Kaiser, Investor Relations, YES INTERNATIONAL 757-306-6090 (001-757-306-6090), [email protected], [email protected] and http://www.weyland-tech.com/.
About Weyland Tech Inc.
Weyland Tech’s CreateApp platform is focused on the Asia markets. Our CreateApp platform is offered in 12 languages and enables small-medium-sized businesses (“SMB’s”) to create a mobile application (“APP”) without the need of technical knowledge and background.
SMB’s can increase sales, reach more customers and promote their products and services via a simple easy to build mobile APPs in an affordable and cost-effective manner, http://www.weyland-tech.com/.
Safe Harbor Statement
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 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 (http://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.