Weyland Tech Completes Acquisition of Push Interactive eCommerce Platform, Sets Stage for U.S. Launch of CreateApp for SMBs Nationwide - Seite 2

Push has provided Weyland a well-established beachhead in North America, allowing Weyland to attract new users to CreateApp and AtozPay more quickly and cost efficiently. Previously, U.S. customer acquisition costs for CreateApp were estimated at $2-$3 per dollar generated, which made the market entry economically unfeasible. By leveraging Push’s highly effective marketing technology and operational resources, U.S. customer acquisition cost is expected to drop to as little as $0.30 per dollar generated.

CreateApp requires literally no technical understanding or skills in app design for anyone to build a full-featured custom app in less than two hours. CreateApp is a Shopify-like solution for mobile that enables businesses and brands to establish a mCommerce presence in an intuitive, do-it-yourself fashion. Push Interactive’s chief technology officer, Tom Furukawa, noted: “By layering on our Push platform, CreateApp users gain a fully end-to-end mCommerce solution supported by our team of expert digital media marketers. We believe we can enhance visibility, customer traffic and ultimately conversions more easily and cost effectively than other competitive options.”

As part of a public company, Weyland’s new Push subsidiary gains easier access to growth capital and is better able to attract employee talent. Push plans to leverage the cost efficiencies and diverse capabilities of Weyland’s 200-person technology and software development team in Jaipur, India, while Weyland gains many years of technical and software development expertise from the Push team.

Weyland still plans to launch CreateApp in the U.S. in the current calendar quarter. The North American market is expected to support a higher price point for subscription fees versus the company’s current market in Southeast Asia. A comparative revenue model of a U.S. industry peer supports 96,000 users at $300 each per month. This compares to the current CreateApp subscription model for Southeast Asia priced at only $12-$80 per month, depending on optional features implemented.

Added Suen: “Our earlier work with Push to introduce CreateApp in the U.S. led to this strategic acquisition. So, we have already made strong progress towards its planned U.S. launch in the coming weeks. eCommerce is becoming increasingly mobile in the U.S., creating a huge new market opportunity for CreateApp and AtozPay.”

Additional details about the definitive asset purchase agreement are provided in a Form 8-K, available at www.sec.gov and the investor relations section of Weyland Tech’s website at weyland-tech.com.