NEW YORK, July 27, 2020 — Weyland Tech, Inc. (OTCQX: WEYL), a leading global provider of eCommerce, mCommerce, and fintech business enablement solutions, has partnered with ShopeePay, the mobile e-wallet platform of Sea Limited (NYSE: SE), to launch a marketing campaign for Weyland’s fast-growing AtozGo(TM) food delivery service in Jakarta.
As recently announced, ShopeePay will offer the AtozGo food and grocery delivery service to its large and growing fintech user base in Jakarta, Indonesia. Access to the AtozGo delivery service is being integrated into ShopeePay, allowing users to transact AtozGo orders within the mobile app. Through this integration, AtozGo will gain access to the hundreds of thousands of merchants and millions of users already on the ShopeePay fintech platform.
The AtozGo integration also represents ShopeePay’s first entry into the last-mile food and grocery delivery market in Southeast Asia. As part of the new joint marketing campaign, ShopeePay is offering its users a 30% discount on AtozGo orders during the first month from launch.
The AtozGo mobile app is also being updated to include a new option for paying for deliveries using ShopeePay’s mobile fintech technology.
“The formation and launch of our new co-marketing campaign with ShopeePay is a huge win for AtozGo and demonstrates our unique value proposition for both partners and customers alike,” noted Djunaedy Hermawanto, CEO of Weyland Indonesia Perkasa, the local operator of AtozGo.
Sea Limited selected AtozGo to support its entry into the food delivery market because of AtozGo’s strong brand presence in Jakarta that includes a well-established base of merchants and customers, with this resulting from its strong growth over the last year.
“Our rapid growth reflects our unique approach to the market, which includes being 100% pedestrian-powered and driven by the entrepreneurial spirit of our delivery people,” continued Hermawanto. “We now expect an even greater acceleration with our new ShopeePay partnership that is supported by the vast reach and resources of Sea Limited.”
Over the last two years since Sea Limited’s IPO on the New York Stock Exchange, it has risen to become the most valuable publicly traded company in Southeast Asia with a market capitalization of more than $52 billion.
AtozGo has now attracted more than 1,000 delivery people, up from 680 in March, by offering flexible hours and unlimited income potential. Merchants are also increasingly joining AtozGo, now at more than 35,000, up 9,000 over just the last few weeks. The increase in merchants provides AtozGo customers a greater selection of household products and services, with this driving larger and more frequent orders.
ShopeePay has also been increasing in popularity. A survey conducted by M2insights in January revealed that ShopeePay has become one of the top five e-wallets in Indonesia, and nearly 40% of respondents were using ShopeePay to transfer funds and make electronic payments. M2insights covered the new ShopeePay/AtozGo partnership in an article published on July 9.
“We expect our mutual platform integration with ShopeePay and especially the new co-marketing campaign to raise our profile in the industry and attract other valuable partnerships,” added Hermawanto. “We also see the integrations supporting the expansion of AtozGo into other urban areas in Southeast Asia where ShopeePay has already built a large user base.”
Statista reports that online food delivery business in Indonesia is expected to reach $1.95 billion in 2020, and continue to grow at a 11.5% compounded annual growth rate to $3.02 billion by 2024. Weyland’s success with AtozGo and ShopeePay has validated Weyland’s entry into Indonesia as one of only a handful of U.S. publicly traded companies focused on this hyper-growth emerging market.
According to the e-Conomy SEA 2019 report by Google, Temasek, and Bain, Indonesia’s Internet economy was worth $40 billion in 2019 and will grow more than threefold by 2025. Bank Indonesia, the country’s central bank, reported that the total value of e-wallet transactions increased from $3.2 billion in 2018 to $10.45 billion in 2019. The Asian Banker report projects it will exceed $15 billion in 2020.
About Sea Limited
Sea Limited (NYSE: SE) is a leading global consumer internet company founded in Singapore in 2009. Its mission is to better the lives of consumers and small businesses with technology. Sea operates three core businesses across digital entertainment, e-commerce, as well as digital payments and financial services, known as Garena, Shopee and SeaMoney, respectively. Garena is a leading global online games developer and publisher. Shopee is the largest pan-regional e-commerce platform in Southeast Asia and Taiwan. SeaMoney is a leading digital payments and financial services provider in Southeast Asia. For more information, visit www.seagroup.com.
Shopee is the leading e-commerce platform in Southeast Asia and Taiwan. It is a platform tailored for the region, providing both buyers and sellers with an easy, secure and fast online shopping experience through strong payment and logistical support. With a wide selection of product categories ranging from consumer electronics to home & living, health & beauty, baby & toys, fashion and fitness equipment, Shopee aims to continually enhance its platform and become the region’s e-commerce destination of choice. For more information, go to shopee.com
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(TM) 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(TM) data engine delivers valuable consumer insights that enhance the ROI of online marketing spend. The company’s AtozPay(TM) subsidiary offers mobile payments, e-wallet, and the AtozGo(TM) 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 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.