Breaking Fintech News: Weyland Tech’s AtozGo Expands Popular Food Delivery Service to Residential Consumers in Jakarta
JAKARTA, Indonesia – April 28, 2020 (Investorideas.com Newswire) Weyland Tech, Inc. (OTCQX: WEYL) (OTCQX: WEYLD), a leading global Platform-as-a-Service (PaaS) provider of mCommerce, eCommerce and fintech business enablement solutions, has expanded AtozGo, its popular food delivery service for office workers in Jakarta, Indonesia, to the city’s residential tenants.
The extended service area and hours of operation allows the city’s urbanites to use the AtozGo mobile app to order food from local grocery and convenience stores, as well as other household services, including dry cleaning, shoe repair, maintenance, cleaning and water bottle delivery.
Powered by Weyland’s m-Commerce technology and the AtozPay mobile payment platform, AtozGo allows users to easily pay for their deliveries and services using their AtozPay e-Wallet. Many city tenants have already been using the AtozPay fintech solution to pay their phone, utility, rent and other personal bills, with more than $24 million being transacted on the platform annually and growing.
AtozGo makes delivery of food or services from local establishments quick and easy, and over the last eight months since its launch, the number of AtozGo registered users has grown to more than 105,000. The service has also attracted more than 1,000 delivery people, up from 680 just a month ago, by providing very flexible hours and unlimited income potential. This rapid growth resulted in a record 17,500 orders delivered in a single day. Driven by the new residential launch, AtozGo’s customer base is expected to grow to more than 1 million by year end.
The city’s total residential population of more than 30 million, along with historically more than 3.5 million commuting daily, Jakarta was an ideal location to launch AtozGo. The company’s runner-based approach for a densely populated urban center like Jakarta reduces the typical delivery time by about a third, or around 15 minutes, as compared to competing services.
“Our launch into residential was long planned but recently accelerated due to the stay-at-home orders enacted over the last several weeks in order to curb the spread of the coronavirus,” noted Djunaedy Hermawanto, CEO of Weyland Indonesia Perkasa which operates AtozPay and AtozGo. “Last month, we began seeing workers ordering household items to the office, and realized they were doing this in order to avoid going out to the store later.”
“As anticipated, our success with AtozGo has attracted the attention of other larger delivery service providers who traditionally operate in areas that require motorized delivery,” said Hermawanto. “We’ve welcomed partnerships, like we announced with GrabFood last fall, and have continued to be engaged in a number of ongoing discussions that could involve a potential buyer of AtozGo or other major partnerships.”
“We’re considering these options since the valuations of app-based food delivery services like AtozGo are highly favorable,” continued Hermawanto. “If you look across the industry landscape, whether is an Uber Eats, DoorDash or Instacart, or even similar services in Southeast Asia, like GrabFood or Go-Food, the average value applied per user has been around $330. For AtozGo, this would imply a standalone valuation of more than $34 million.
“Today, these services are barely able to keep up with the rapid growth in demand, and analysts are predicting a permanent favorable change in customer behavior when it comes to home delivery. Combined with AtozGo’s unique approach to the market rapidly gaining ground, we see our value strengthening with every passing day.”
About Weyland Tech
Weyland Tech 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, CreateApp 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.
Earlier this year, Weyland completed the acquisition of the Minneapolis-based eCommerce technology company, Push Interactive. Push provides an eCommerce marketing solution for enterprises and major U.S. brands, including HomeAdvisor, QuinStreet and Sunrun. For more information, visit weyland-tech.com.
About AtozPay and AtozGo
Through Weyland Tech’s minority-owned subsidiary, Weyland Indonesia Perkasa (WIP), the company operates AtozPay and AtozGo. The AtozPay mobile payments platform serves the burgeoning mCommerce and e-Payment markets in Indonesia, the world’s fourth most populous country. AtozGo is a fast-growing provider of short-distance food delivery and home services from local establishments operated in Jakarta, Indonesia. For more information, visit atozpayindonesia.com.
About Push Interactive
The e-Commerce platform of Weyland’s Push Interactive subsidiary features comprehensive customer acquisition capabilities, highly productive media and channel strategies, well-tuned product promotion and messaging, and sales funnel development and optimization. The direct-to-consumer platform provides an end-to-end solution for SMBs and major brands, allowing these organizations to dramatically increase online revenue while lowering the cost of customer acquisition and order fulfillment. Post-sale, Push supports fulfillment, customer relationship management, and further monetization through re-engagement and remarketing toolsets that enhance customer lifetime value (LTV). For more information about Push Interactive, visit www.pushint.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 eCommerce 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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