NEW YORK, Nov. 18, 2020 (GLOBE NEWSWIRE) — Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: Spotify (NYSE: SPOT), Logiq, Inc. (OTC: LGIQ) Square (NYSE:SQ) and Alibaba (NYSE: BABA).
Square (NYSE:SQ) CEO Jack Dorsey: “Scaling Business and Consumer Fintech Ecosystems”
“…We have scaled not one but two ecosystems focused on expanding access to financial services for sellers and individuals…Let’s start with Seller. We’re focused on providing sellers with fast and flexible access to their funds, which has proven to be especially important this year. Square Card, our business debit card, which we launched last year, provides sellers with a way to immediately access and spend earned funds without setting up a bank account. Adoption of Square Card has increased each quarter since launch…We also work to provide employees easier access to funds. In the third quarter, we launched two new features for Square Payroll, Instant Payments and On-Demand Pay. Instant Payments allows Square Payroll merchants to pay employees using earned funds next business day with direct deposit or instantly when employees use Cash App. This strengthens the integration between our Seller and Cash App ecosystems, and it was a great example of what we can do when we connect the two ecosystems together…”
“For Cash App, we’ve continued to find ways to make financial services more relatable and accessible for individuals. We’ve seen strong adoption across the Cash App ecosystem, including our stock brokerage product, which has seen the fastest adoption of any product to-date. Since launching it less than a year ago, more than 2.5 million customers have bought stocks using Cash App and billions of dollars have been traded by the end of the third quarter…This quarter we launched Auto-Invest, which allows for dollar-cost averaging from recurring daily or weekly purchase of Bitcoin or stocks.”
Square (NYSE:
SQ
) Q3 2020 Earnings Highlights:
https://bit.ly/2UCHP6s
Logiq, Inc. (OTC: LGIQ) President, Brent Suen: “Southeast Asia Fintech/Ecomm with 10X Upside Potential”
Logiq, Inc. (OTC: LGIQ), a regular presenter at Wall Street Reporter’s NEXT SUPER STOCK livestream events, is rapidly growing it’s mobile e-commerce, and fintech business in Southeast Asia, with revenues accelerating to a $40 million run-rate.
In a recent livestream event, LGIQ President Brent Suen, explained why LGIQ has compelling upside, based on valuation comparables to it’s peers in the e-commerce/fintech space. While LGIQ trades at about 2X revenues, it’s peers such as SHOP, SE, STNE, and JMIA, are often trading at 20-30X revenues.
November 18, 12:00EST – LGIQ is presenting at Wall Street Reporter’s NEXT SUPER STOCK livestream event. Click here to join:
https://bit.ly/36KYXfU
Livestream starts 12:00 EST.
November 18 – LGIQ has launched its previously announced mobile fintech platform in Indonesia, in an exclusive strategic alliance with Indonesia’s social security program provider, Koperasi Mona Santoso Berjaya (KMSB). Using the new fintech platform, KMSB will provide micro-lending services to Badan Perlayanan Jaminan Sosial Ketenagakerjaan (BPJSTK), Indonesia’s social security agency that administers retirement and pension plans on behalf of Indonesian government entities and about 600,000 small- and medium-sized businesses (SMBs), with a combined total of 48 million individual members.
LGIQ and KMSB will jointly own and operate the new mobile fintech platform that will deliver mobile financial services. Logiq, through its Indonesian operations, will provide platform design and technology, management, ongoing hosting and technical support. KMSB will provide the financial institutional relationships for enabling the microlending program. The partners will then work together to launch a new marketing and advertising campaign that will encourage adoption and regular use of the mobile fintech offerings. The pilot program will provide mobile micro-lending and related services to 6,000 BPJSTK employees who will be able to borrow up to 20% of their annual salary.
“Through this exclusive strategic alliance with KMSB, we have a tremendous opportunity to improve the lives of nearly 20% of the Indonesian population who normally do not have access to traditional financial services,” stated LGIQ president, Brent Suen. “The opportunities for new revenue streams from microlending, mobile payments, and our eCommerce solutions with this enormous user base are also phenomenal, potentially generating tens of millions of dollars of revenue annually..”
November 18, 12:00EST – LGIQ is presenting at Wall Street Reporter’s NEXT SUPER STOCK livestream event. Click here to join:
https://bit.ly/36KYXfU
Livestream starts 12:00 EST.
Watch (OTC: LGIQ) NEXT SUPER STOCK livestream (10/28/20):
https://bit.ly/2JNIWOf
Alibaba Group Holdings (NYSE: BABA) Daniel Zhang CEO: “Big Growth Opportunities in Cloud and Southeast Asia”
In the latest earnings call, Alibaba CEO Daniel Zhang highlighted Alibaba Cloud and expansion in Southeast Asia as important new growth areas:
Cloud Opportunities: “…The pandemic is accelerating demand for cloud infrastructure and services. According to IDC’s latest report, Alibaba Cloud maintained its position as the largest public cloud service provider in China, which is a testament to Alibaba Cloud’s strengthening market leadership. In the June quarter, our cloud computing revenue grew 59% year-over-year in sectors such as Internet, financial services, consumer retail and public services. Alibaba Cloud not only provides infrastructure as a service but also develops industry-specific technology and business solutions to address real-world application requirements for our customers…the China cloud market is going to be somewhere in the $15 billion to $20 billion total size range, and the U.S. market is about 8x that. So the China market is still at a very early stage…”
Southeast Asia Strategic Growth Priority: “…Southeast Asia market is our strategic priority for Alibaba’s globalization strategy…The pandemic has significant impact on many Southeast Asian countries, and it has converted many consumers into online shoppers. We believe the increasing adoption of online shopping is beneficial for healthy growth of the region’s e-commerce industry over the long term… And I think when we look at our Lazada’s operation, we expect to build a more tech-driven, AI-driven sustainable business. Actually, today, in this market, the competition is very extensive, and the people invest and even certifies the buyers, sellers, even shipping fees and trying to get the short-term growth. But we strongly believe we need to build a long-term, sustainable business and so our advantage is, first is about Alibaba technology infrastructure and especially our experience and know-how and technologies in the AI and in the search and recommendation and the supply and demand match mechanism…”
Alibaba (NYSE: BABA) Q1 2021 Earnings Call Highlights:
https://bit.ly/3dZ8vXT
Spotify (NYSE: SPOT) CEO Daniel Ek: “The Beginning of Our Flywheel”
“…On the music fronts, we entered a new multi-year global license agreement with Universal Music Group that reflects our shared commitments in growing the industry and supporting artists at all stages of their careers….Universal Music Group will leverage Spotify’s marketplace tools for both frontline and catalogue artists to connect them with fans, grow their audiences and better monetize their fan base. And we’ll also work together to develop new products and tools that drive discovery and engagement at a scale that has never before existed….Spotify has now surpassed 60 million tracks globally, giving artists even more opportunities to connect with their biggest fans…”
“…We launched in Russia and 12 other European countries. And our first week in Russia was huge, even bigger than our first week in India…we have the opportunity to reach 250 million more listeners in these markets over the long-term. We are now operating in nearly every country across Europe, but there is still a lot of pent-up demand for Spotify in markets around the world, which is why we have plans for further expansion globally…What these two recent examples underscore is that staying focused on long-term growth, whilst managing for speed of iteration near-term is what will drive future growth.”
“What we are seeing here is the beginning of our ‘flywheel’…Spotify is now going after all of audio and that’s obviously a significantly larger market than just the music industry and then on itself. And so, what we are seeing is that, by every piece of contents that we are adding on the service that we are successfully serving to our consumer, we are creating more engagement. That engagement in turn leads to obviously lower churn, but more importantly, now that we have almost 300 million monthly active users on the platform. These users are also when they find great shows sharing that on social media and other forms to other consumers, as well driving this virtual cycle where more and more people are learning about what’s going on, on Spotify and more and more creators want to be on Spotify creating this virtuous flywheel.”
Spotify (NYSE: SPOT) Q2 2020 Earnings Call Highlights:
https://bit.ly/311tQdH
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