NEW YORK, Aug. 04, 2020 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (OTCQX: WEYL), a leading global provider of eCommerce, mCommerce, and fintech business enablement solutions, has expanded to Indonesia a new digital marketing campaign for its CreateApp mCommerce platform-as-a-service (PaaS).
The launch in Indonesia follows a successful pilot marketing program recently completed in Taiwan that included new online seminars hosted by CreateApp’s chief product officer and founder, Eddie Foong.
The seminars were attended by potential distributors and resellers interested in remarketing CreateApp as an ideal solution for any small and medium business (SMB) looking for an easy and affordable way to establish a mobile presence.
CreateApp subscriptions were purchased by seminar attendees in blocks of 10, who then resold them to SMBs across Taiwan. This resulted in more than 1,000 new CreateApp customers, and generated a marketing ROI to Weyland of about 3-to-1 on the first month.
The company has been selling CreateApp in Indonesia through distributors and primarily under private label. Under the new campaign, the company will offer CreateApp under its owned brand.
“Our new marketing campaign involves greater access to resellers, lower costs and higher margins as compared to our historical ways of distributing CreateApp,” noted Foong. “The new stay-at-home environment in Southeast Asia has opened up the large-scale opportunity to engage home based entrepreneurs looking to either sign up other businesses or launch their own online business.”
The population of Indonesia is the world’s fourth largest with over 267 million people, and has more than 90% smartphone penetration. There are currently 60 million SMBs in Indonesia, with around 10 million in the perfect target demographic for CreateApp.
“If Taiwan offers 3-to-1 marketing ROI, with a population one-tenth the size of Indonesia, we see an ample opportunity to replicate the same returns with a larger base of prospective customers in Indonesia,” added Foong. “We see near-term an $8 million subscription-based opportunity in Taiwan, along with much higher margins at around 30%. Turning to Indonesia, we see at least a 10x multiple in terms of the recurring revenue opportunity.”
CreateApp enables businesses anywhere in the world to create and deploy native Apple iOS or Google Android mobile applications without technical knowledge or background. CreateApp empowers SMBs to increase sales, reach more customers, manage logistics, conduct financial transactions, and promote their products and services in an easy, affordable and highly efficient way. The CreateApp user base, comprised of businesses across Southeast Asia, grew 47 percent last year to more than 360,000.
Weyland’s acquisition of Minneapolis-based Logiq earlier this year is also expected to eventually provide lead-generation tools for Indonesian SMBs that can help to increase online sales.
About Weyland Tech
Weyland Tech, Inc. (OTCQX: WEYL) is a U.S.-based leading global provider of eCommerce, mCommerce, and fintech business enablement solutions. Its CreateApp™ platform-as-a-service enables small-and-medium sized businesses worldwide to easily create and deploy a native mobile app for their business without technical knowledge or background. CreateApp empowers businesses to reach more customers, increase sales, manage logistics, and promote their products and services in an easy, affordable, and highly efficient way. CreateApp is offered in 14 languages across 10 countries and three continents, including some of the fastest-growing emerging markets in Southeast Asia.
Weyland’s subsidiary, Logiq Inc., provides a data-driven, end-to-end eCommerce marketing solution for enterprises and major U.S. brands, like Home Advisor, QuinStreet and Sunrun. The AI-powered LogiqX™ data engine delivers valuable consumer insights that enhance the ROI of online marketing spend. The company’s AtozPay™ subsidiary offers mobile payments, e-wallet, and the AtozGo™ hyper-local food delivery services in Indonesia, which has the fastest-growing mobile economy in Southeast Asia. For more information about Weyland Tech, go to weyland-tech.com.
Important Cautions Regarding Forward Looking Statements
This press 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 adoption of our product offerings by SMBs and other businesses; the ability of the company to expand its new seminar marketing approach, the ability to expand its new seminar marketing approach to distributors; the ability of the Company to successfully integrate the assets of Logiq, 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; the continued use and success of AtozGo and AtozPay; 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.
LogiqX is a trademark of Logiq, Inc. All rights reserved.
Company Contact
Brent Suen, CEO
Weyland Tech Inc.
Email contact
Media & Investor Contact
Ronald Both or Grant Stude
CMA Investor & Media Relations
Tel (949) 432-7566
WEYL@cma.team
