NEW YORK, Sept. 22, 2020 (GLOBE NEWSWIRE) — Logiq, Inc. (previously Weyland Tech) (OTCQX: WEYL), a world supplier of award-winning eCommerce answers, expects to finish 2020 with document income at greater than $38 million, with margins increasing throughout all trade segments.
“Regardless of a tumultuous 12 months of demanding situations and setbacks created by means of the worldwide pandemic, we’ve got been ready to develop into Logiq into a world supplier of a full-range of eCommerce answers for corporations of all sizes,” mentioned Logiq president, Brent Suen. “This has stored us not off course for progress in 2020 and past with extra diverse, high-margin income streams derived from the most powerful segments of our business.”
The corporate’s choices now fluctuate from cellular trade and fintech answers for micro-, small- and medium-sized companies (MSMBs) to AI-powered buyer acquisition for primary enterprises and types. Buyer relationships now fluctuate from masses of 1000’s of MSMBs all over the world to publicly traded Fortune 500 corporations. Marquee purchasers now come with House Marketing consultant, QuinStreet and Sunrun.
The brand new primary purchasers replicate how the corporate has been evolving from basically an eCommerce products and services corporation to a number one innovator of data-driven shopper intelligence and advertising and marketing era. The transformation of Logiq started originally of the 12 months with its acquisition of the eCommerce trade of U.S.-based Push Interactive. This has resulted in a streamlining of the corporate’s more than a few merchandise and trade devices into two segments: AppLogiq™ and DataLogiq™.
The AppLogiq platform-as-a-service (PaaS) permits MSMBs international to simply create and deploy a local cellular trade app with out technical wisdom or capital expense. AppLogiq empowers companies to succeed in extra consumers, build up gross sales, procedure bills, arrange logistics, and advertise their services and products in a very simple, inexpensive, and extremely environment friendly means. It additionally empowers amateur cellular entrepreneurs with easy-to-use information analytics and re-engagement/retargeting answers.
The corporate’s PayLogiq™ cellular e-wallet and GoLogiq™ city meals supply products and services show off the ability of the AppLogiq platform to create extremely treasured cellular apps that may draw in massive and lively consumer bases. Those products and services have change into magnets of pastime by means of primary business companions because of the precious shopper information each have obtained since inception and their center of attention on rising markets in Southeast Asia.
Logiq not too long ago shaped a partnership with Shopee, the main on-line buying groceries platform in Southeast Asia and unit of NYSE-traded Sea Ltd., and introduced an integration of GoLogiq with the ShopeePay cellular cost platform and introduced a co-marketing marketing campaign. ShopeePay brings to the marketing campaign robust progress on this marketplace. In its contemporary quarter, ShopeePay generated 260 million monetary transactions, up 130% year-over-year, with income up 187% to a document $510.6 million.
Ultimate week, Logiq additionally joined forces with Yabx, the microfinance unit of $5.2 billion Tech Mahindra (BSE:TECHM). In combination, they are going to be offering credit-based monetary products and services by means of the PayLogiq cellular app in Indonesia.
“No longer handiest do those primary new partnerships reveal the ability of AppLogiq to create robust new income alternatives for our corporation and AppLogiq subscribers, additionally they validate Logiq as a forged spouse for multibillion-dollar international tech corporations,” mentioned Suen. “Such partnerships additionally provide alternatives the place such new in-house trade devices created by means of AppLogiq can also be created and probably spun out to companions at really extensive valuations. We perceive it is very important stay fascinated about our core strengths, so on the proper time and valuation, that is our plan for those two answers.”
In combination, PayLogiq and GoLogiq annualized gross transaction quantity (GTV) these days exceeds $24 million. Comparative M&As and investments position the valuation of PayLogiq and GoLogiq at 2-Four occasions their GTV or at $48 million to $96 million. The mixed GTV progress outlook for 2021 these days exceeds $50 million.
In the meantime, those platforms proceed to have the benefit of robust marketplace tendencies. Statista reviews that on-line meals supply trade in Indonesia the place GoLogiq operates is increasing at an 11.5% compounded annual progress fee and can achieve $three billion by means of 2024. In the meantime, Financial institution Indonesia, the rustic’s central financial institution, reviews that the whole price of e-wallet transactions higher greater than tripled in 2019 to $10.45 billion.
“As one in all just a handful of U.S. publicly traded corporations centered in this hyper-growth marketplace, our luck there validates our marketplace technique,” mentioned Suen, “and particularly when it draws treasured, high-profile, companions like ShopeePay.”
DataLogiq, the corporate’s U.S.-based eCommerce platform, makes use of proprietary methodologies and AI techniques to ship treasured shopper insights that may dramatically give a boost to the effectiveness, achieve, and ROI of internet online affiliate marketing spend.
Through drawing from its first-party information obtained throughout Logiq’s eCommerce platforms, Logiq is creating a company-wide device for development customized audiences for promoting the use of its deep pool of shopper intelligence. It seems to gather those audiences the use of masses of possible issues of shopper pastime. Through managing the end-to-end shopper revel in, Logiq is in a position to hastily execute extremely efficient on-line campaigns that generate excessive ROI on advertising and marketing spend for itself and its consumers international.
As DataLogiq continues to scale and enlarge its core lead-generation trade, it’s also searching for accretive and complementary acquisitions. It not too long ago introduced its plans to obtain Fixel AI, which might permit an instantaneous entrée to better margin, self-serve SaaS choices. Different focused acquisitions come with excessive margin alternatives in Virtual-out-of-House and Attached TV markets.
2020 Monetary Outlook
Logiq sees income in the second one part of 2020 to be pushed basically by means of 20% progress in DataLogiq, resulting in greater than $38 million in income for the 12 months. DataLogiq’s robust progress can be in part offset by means of a gradual go back to progress in AppLogiq subscription income because of the affect of a COVID-19 lockdown in Jakarta, Indonesia the place maximum of AppLogiq’s vendors and consumers function. AppLogiq is predicted to go back to its ancient double-digit progress in 2021.
The corporate has additionally carried out a transition clear of decrease margin distributor relationships for AppLogiq, changing them with both higher-margin engagements or higher-margin direct gross sales given the result of a a success new internet online affiliate marketing program introduced in August.
DataLogiq stays on target to succeed in the upper finish of its 2020 income steering issued previous this 12 months of $13 million to $15 million, with gross margins increasing to just about 20% by means of 12 months finish.
Logiq expects its web loss, pushed basically by means of the pandemic affect, to fortify from $4.Five million within the first part of the 12 months to about $2 million in the second one part, with this growth pattern proceeding into the brand new 12 months, as margin fortify from round 18% to the objective of 30-32% in 2021.
Additionally riding long term progress would be the near-term of completion of the not too long ago introduced Fixel AI acquisition and the higher advisable stake within the corporation’s PayLogiq/GoLogiq subsidiary from 31% to 51%. Gaining regulate PayLogiq/GoLogiq positions the corporate to consolidate the subsidiary’s income and take higher good thing about any possible strategic choices, as mergers and acquisitions, in addition to eCommerce trade usually proceed to accentuate.
Previous this 12 months, Logiq engaged the main U.S. funding financial institution, The Benchmark Corporate, to help within the exploration, analysis and execution of strategic choices design to give a boost to shareholder price.
Consistent with Logiq CEO, Tom Furukawa: “Via our synergistic acquisitions and new partnerships, and additional cross-platform improvements, we will be able to proceed to extend buyer process throughout our trade segments as we benefit from the marketplace tendencies riding the exceptional progress of eCommerce international.”
Logiq, Inc. (OTCQX: WEYL) is a U.S.-based main international supplier of eCommerce, mCommerce, and fintech trade enablement answers. Its AppLogiq™ platform-as-a-service permits small-and-medium sized companies international to simply create and deploy a local cellular app for his or her trade with out technical wisdom or background. AppLogiq empowers companies to succeed in extra consumers, build up gross sales, arrange logistics, and advertise their services and products in a very simple, inexpensive, and extremely environment friendly means. AppLogiq is obtainable in 14 languages throughout 10 international locations and 3 continents, together with one of the most fastest-growing rising markets in Southeast Asia.
The corporate’s subsidiary, DataLogiq, supplies a data-driven, end-to-end eCommerce advertising and marketing answer for enterprises and primary U.S. manufacturers, together with House Marketing consultant, QuinStreet and Sunrun. Its AI-powered LogiqX™ information engine delivers treasured shopper insights that give a boost to the ROI of internet online affiliate marketing spend. The corporate’s PayLogiq™ gives cellular bills, and GoLogiq™ gives hyper-local meals supply products and services. For more info about Logiq, pass to Logiq.com.
Ahead-Taking a look Disclaimer
This press liberate might comprise sure forward-looking statements and knowledge, as outlined inside the that means of Phase 27A of the Securities Act of 1933 and Phase 21E of the Securities Alternate Act of 1934, and is topic to the Secure Harbor created by means of the ones sections. The Corporate cautions you that statements on this press liberate that aren’t an outline of ancient info are forward-looking statements. Those statements are in response to the Corporate’s present ideals and expectancies. The inclusion of forward-looking statements must now not be considered a illustration by means of the Corporate or its associates that any of our plans or expectancies can be accomplished. Exact effects might vary from the ones set forth on this press liberate because of the chance and uncertainties inherent in our trade, together with, with out limitation: the health of our product for a selected utility or marketplace, expectancies of long term occasions, monetary effects, and/or trade transactions that is probably not consummated or learned, in addition to different dangers described in our prior press releases and in our filings with the Securities and Alternate Fee (“SEC”), together with below the heading “Possibility Elements” in our Annual File on Shape 10-Ok and any next filings with the SEC. You’re cautioned to not position undue reliance on those forward-looking statements, which discuss handiest as of the date hereof, and the Corporate undertakes no legal responsibility to revise or replace this press liberate to replicate occasions or instances after the date hereof.
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