Weyland Tech Provides Corporate Update

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Weyland Tech, Inc., a leading global provider of mCommerce platform-as-a-service (PaaS), eCommerce managed services and fintech solutions, has provided a corporate update.

“Given the subscription-based model of our flagship CreateApp mCommerce platform and the benefits of digital customer interaction continuing to drive activity, we see limited impact on our core business from COVID-19,” commented Weyland Tech CEO, Brent Suen. “We’ve had recent minimal effect on productivity and customer service. To be sure, it remains a fluid situation, and we will continue to closely monitor developments and adjust accordingly.”

In January, Weyland completed the acquisition of the Minneapolis-based eCommerce technology company, Push Interactive, which provides an eCommerce marketing solution for enterprises and major U.S. brands, including HomeAdvisor, QuinStreet and Sunrun. The integration has proceeded smoothly and is now virtually complete.

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Weyland reported earlier that it exited 2019 at an annualized run rate of more than $48.6 million, or $60.6 million on a combined pro forma basis with Push. This compares to $22.7 million in revenue for Weyland alone in 2018.

Weyland continues to see growth in 2020, with an outlook aligned with industry analyst expectations for other e-Commerce companies like Amazon. Earlier today, JPMorgan analyst, Doug Anmuth, raised his first quarter revenue estimate for Amazon to $74 billion — $1 billion higher than Amazon’s own guidance range.

According to Anmuth: “eCommerce will benefit as closings of physical stores and fear of public places should accelerate the secular shift of retail online, which we believe will prove sustainable even after the crisis ends.”

Push Interactive co-founder, CEO and president, Haig Newton, commented: “For Push, while we are seeing significant ‘noise’ in the channels related to the coronavirus, there has been some disruption on the demand side across our verticals. We are constantly innovating and adapting to drive traffic through our acquisition funnels to combat this. We are monitoring indicators in demand fluctuations for refinancing mortgages, debt consolidation, insurance plans, and home renovation projects.”

Weyland also reported that the number of registered users for AtozGo, the company’s popular hyper-local food delivery service in Jakarta, Indonesia, has as exceeded more than 100,000, climbing by more than 14,000 since mid-February.

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The 100,000-user milestone for AtozGo was achieved within only eight months since the app’s official launch. AtozGo users are collectively generating an average of more than 15,500 delivery orders per day after recently hitting a high of 17,500. While down about 10% due to the ongoing 14-day period of ‘social distancing’ recommended by the government resulting in more people not commuting to the city and working from home, an increasing percentage of orders have been for unprepared food and household supplies from local grocery and convenience stores.

According to Suen: “We believe the uptick in orders for unprepared foods from grocery and convenience stores is due to urban users discovering that AtozGo can help to avoid potential exposure to the coronavirus while out in public or at the store. This trend is also being seen in the U.S. by home delivery services like Amazon. For AtozGo, there has been a shift in order mix from mostly lunchtime office workers to more urban residential customers.”

Compared to other food and grocery delivery services in Jakarta like GrabFood, AtozGo increases the potential number of available delivery people by not requiring that they have a motor vehicle. They simply need to be within walking distance of the customer and local establishments. This helps make the service a more affordable and faster option for urban customers.

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