Webuy (WBUY)
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Stablecoin integration sends this stock skyrocketing 100%
Finbold· 2025-06-30 13:24
Core Insights - Webuy Global's share price surged over 94% to $10.94 following the announcement of a partnership with Coinbase Commerce to enable stablecoin payments [1][3] - The partnership aims to enhance digital payment solutions for international travelers, allowing purchases with various cryptocurrencies, including USDC [3][4] Group 1: Partnership and Market Reaction - The collaboration with Coinbase Commerce is expected to reduce friction in cross-border payments by providing near-instant transaction confirmations and eliminating costly banking intermediaries [4][5] - The significant increase in share price reflects investor enthusiasm for Webuy's strategic pivot towards digital payment solutions [1][3] Group 2: Strategic Implications - The introduction of stablecoin transactions is part of Webuy's broader digital transformation strategy, which includes AI-powered itinerary planning tools and an improved travel wallet experience [4][5] - Analysts believe this move will help Webuy differentiate itself in the competitive travel and e-commerce sectors, particularly among crypto-friendly users [5][6] Group 3: Regulatory Context - The growing interest in stablecoins is bolstered by the passage of the GENIUS Act, which provides a comprehensive federal framework for stablecoins, aiming to enhance regulatory clarity and consumer protections [6][7]
Webuy Global Ltd Integrates Coinbase to Accept Stablecoin Payments - Leading the Way in Travel Technology and Digital Payments
Globenewswire· 2025-06-30 11:02
Core Insights - Webuy Global Ltd. has integrated Coinbase Commerce into its platform, allowing customers to pay for travel packages and products using various cryptocurrencies, including stablecoin USDC, highlighting the company's commitment to digital innovation [1][2] - This integration aims to provide a borderless, instant, and cost-efficient payment experience for global customers, particularly benefiting travelers from crypto-active markets [2][3] - The acceptance of stablecoins is expected to enhance Webuy's travel brand WeTrip by reducing foreign exchange risks and streamlining cross-border transactions, thus strengthening the company's global positioning [3][4] Company Strategy - The integration of cryptocurrency payment options is part of Webuy's broader digital transformation strategy, which includes AI-driven itinerary planning and data-centric customer engagement [4] - Webuy aims to enhance its community e-commerce and travel services through predictive AI and personalized recommendations, targeting scalable growth in Southeast Asia [5]
Webuy Global Ltd. and CTG MICE Service Company Limited., a Subsidiary of China Tourism Group, Sign Landmark Agreement to Boost Inbound Tourism to China
Globenewswire· 2025-06-27 11:00
Core Insights - Webuy Global Ltd. has entered into a strategic Memorandum of Understanding (MOU) with CTG MICE Service Company Limited to develop inbound tourism services to China [1] - The partnership aims to facilitate the arrival of at least 20,000 Chinese inbound travelers annually through enhanced infrastructure and premium services [2] - The collaboration will leverage AI-powered itinerary planning and real-time support to enhance the travel experience [2][3] Company Overview - Webuy Global Ltd. is a technology-driven company focused on transforming community e-commerce and travel in Southeast Asia, utilizing predictive AI and personalized recommendations [4] - The travel vertical, WeTrip, is known for providing immersive and personalized travel solutions, including visa facilitation and exclusive access to heritage sites [3][4] - The company is committed to delivering high-quality and affordable travel services to improve the lives of millions in the region [4] Partnership Details - CTG Travel will act as WeTrip's exclusive inbound travel service provider in China, enhancing the travel experience for inbound travelers [4] - The collaboration includes access to fast-track VIP customs clearance, premium hospitality services, and customized city itineraries [6] - Joint campaigns such as "Cultural Tourism Going Global" aim to promote China's soft power and enhance destination branding [6] CTG MICE Overview - CTG MICE specializes in comprehensive MICE services for institutional clients, including conference services and customized incentive travel [5] - The company focuses on market innovation and aims to strengthen its professional capabilities to maximize customer value [5]
Webuy Global Ltd. Named One of Asia-Pacific’s Fastest-Growing Companies by Financial Times
Globenewswire· 2025-06-25 12:00
Group 1 - Webuy Global Ltd. has been included in the Financial Times and Statista's "High-Growth Companies Asia-Pacific 2025" list, recognizing its outstanding performance based on compound annual revenue growth from 2020 to 2023 [1][2] - The 2025 list highlights companies that have demonstrated exceptional resilience and innovation during global uncertainty, with Singapore leading in total entries [2] - The top sectors represented in the ranking include IT and software, financial services, and consumer platforms [2] Group 2 - Bin Xue, CEO and Co-Founder of Webuy, expressed pride in the recognition, attributing it to the company's commitment to innovation, operational excellence, and customer-centric growth [2] - Webuy Global Ltd. focuses on transforming community e-commerce and travel in Southeast Asia through a group-buy model enhanced by predictive AI and personalized recommendations [3] - The company's travel vertical offers curated itineraries and real-time support via its proprietary AI Travel Consultant, aiming to improve the lives of millions in the region [3]
Webuy Global Ltd. Appoints Award-Winning Corporate Leader Heng Wee Koon as Independent Director
Globenewswire· 2025-06-24 12:00
Core Insights - Webuy Global Ltd. has appointed Mr. Heng Wee Koon as Independent Director and Chair of the Compensation Committee, highlighting his strategic value to the company [1][4] - Mr. Heng has over 25 years of leadership experience in mergers and acquisitions, financial advisory, and corporate governance, currently serving as Lead Independent Director at Hyphens Pharma International Ltd. [2] - His previous roles include Partner at KPMG Advisory LLP and founder of Acelyr M&A and Acelyr Advisory, bringing deep expertise to Webuy's Board as the company continues its rapid growth [3] Company Overview - Webuy Global Ltd. is a technology-driven company focused on transforming community e-commerce and travel in Southeast Asia, utilizing predictive AI and personalized recommendations [5] - The company enhances its group-buy model and offers curated travel itineraries supported by its proprietary AI Travel Consultant, aiming to improve the lives of millions in the region [5]
Webuy Global Ltd. (Nasdaq: WBUY) Reinstated Listing on Nasdaq Capital Market and Returns to Profitability with Strong First Quarter Growth in Travel
GlobeNewswire News Room· 2025-05-08 10:30
Core Viewpoint - Webuy Global Ltd. has successfully reinstated its listing on the Nasdaq Capital Market, marking a significant milestone in its recovery strategy and operational momentum [1][2]. Company Performance - The company has regained compliance with Nasdaq's minimum bid price requirement, following a comprehensive recovery strategy that included reverse stock splits and a successful appeal [2]. - In Q1 2025, Webuy reported substantial growth, particularly in its travel vertical, with over US$2.6 million in travel bookings, a 45% increase year-over-year [3]. - The travel business in Indonesia generated approximately US$1.25 million in revenue in Q1 2025, a remarkable increase of over 2,160% compared to US$55,000 in Q1 2024 [3]. Strategic Focus - The CEO emphasized the company's commitment to scaling high-margin verticals, enhancing its technology platform, and driving long-term shareholder value [4]. - Webuy plans to leverage its Nasdaq relisting to accelerate strategic initiatives across Southeast Asia, focusing on AI-driven e-commerce tools and community engagement [4]. Company Overview - Webuy Global Ltd. is a technology-driven company transforming community e-commerce and travel in Southeast Asia, utilizing predictive AI and community-led engagement [5].
Webuy Global Ltd. Reports FY2024 Results and Achieves First-Ever Quarterly Profit
Globenewswire· 2025-04-22 12:30
Core Insights - Webuy Global Ltd. achieved group-level profitability for the first time in Q4 2024, marking a significant milestone in its operational turnaround [2][5] - The company reported an annual revenue of $58.3 million, supported by stable performance in its core verticals [5] - Operating expenses were reduced by over 30% through disciplined cost control measures [2][5] - A reverse stock split was completed in April 2025, positioning the company for a potential relisting on Nasdaq [2][5] - The company has integrated AI-driven tools across its operations to enhance customer experience and scalability [2][5] Company Overview - Webuy Global Ltd. is a technology-driven community e-commerce and travel platform focused on Southeast Asia [3] - The company leverages advanced AI technologies to enhance its 'group buy' model, providing personalized recommendations and predictive demand analytics [3] - Webuy aims to improve the lives of millions of families in Southeast Asia by offering high-quality, affordable products, services, and travel experiences [3]
Webuy (WBUY) - 2024 Q4 - Annual Report
2025-04-22 12:05
Exhibit 99.1 Webuy Global Ltd. Reports FY2024 Results and Achieves First-Ever Quarterly Profit Singapore, April 21, 2025 – Webuy Global Ltd. (OTC: WBUY), a technology-driven community e-commerce and travel platform in South East Asia, today announces that on April 21, 2025, the Company filed its 2024 annual report (Form 20-F) with the U.S. Securities and Exchange Commission. The report is available at www.sec.gov and the Company's investor relations website. Key FY2024 Highlights Vincent Xue Bin, Chief Exec ...
Webuy (WBUY) - 2024 Q4 - Annual Report
2025-04-22 12:00
Financial Performance - For the year ended December 31, 2024, net cash used in operating activities amounted to approximately $6.99 million, primarily due to a net loss of approximately $6.78 million [327]. - For the year ended December 31, 2023, net cash used in operating activities was approximately $7.16 million, resulting from a net loss of approximately $5.16 million [328]. - The company experienced a net cash decrease of approximately $1.59 million in 2024, compared to an increase of approximately $3.78 million in 2023 [326]. - For the year ended December 31, 2024, net cash used in investing activities was approximately $0.94 million, primarily for leasehold improvements and intangible assets [330]. - For the year ended December 31, 2024, net cash provided by financing activities amounted to approximately $6.34 million, primarily from the issuance of ordinary shares and convertible notes [333]. Cash and Fundraising Activities - The company expects improved cash flows from future fundraising activities, with a non-binding offer for an equity line of credit of up to $20 million over a 36-month period [325]. - The company has raised a total of approximately $15.53 million from financing activities in 2023, mainly from IPO proceeds [334]. Compensation and Employment - The total compensation for Bin Xue, the Chief Executive Officer, increased from $67,032 in 2023 to $80,827 in 2024 [357]. - Ai Lian Phang, the Chief Financial Officer, received a total compensation of $74,542 in 2023, which includes a salary of $73,738 and other compensation of $804 [357]. - Fangqin Lin, the Independent Director and Chairwoman of the Audit Committee, received $20,581 in 2024, while her compensation for 2023 was not specified [359]. - William Tat-Nin Chang, the Independent Director and Chairman of the Compensation and Nominating Committees, saw his compensation rise from $4,486 in 2023 to $22,452 in 2024 [359]. - Lizhi Qiao, an Independent Director, received $14,968 in 2024, compared to $2,990 in 2023 [359]. - The company provides employees with medical benefits, including outpatient coverage and medical leave, in compliance with Singapore employment laws [398]. - As of December 31, 2024, the company had 174 full-time employees, categorized as follows: Management (11), Accounts and Finance (15), Customer Management and Administration (7), Information Technology (2), Warehouse Labor (17), Others (122) [397]. Corporate Governance - The company has established three committees under the Board of Directors: Audit Committee, Compensation Committee, and Nominating Committee, all consisting of independent directors [368]. - The Audit Committee is responsible for overseeing the accounting and financial reporting processes and audits of the financial statements [372]. - The company has adopted an insider trading policy allowing insiders to sell securities under pre-arranged trading plans [370]. - The Board of Directors consists of five directors, a majority of whom are independent as defined by the Nasdaq Capital Market [364]. - The company intends to adopt a code of business conduct and ethics applicable to all directors, executive officers, and employees [396]. - The company is classified as a "foreign private issuer" and may rely on home country governance practices instead of certain Nasdaq corporate governance standards [383]. - The compensation committee is responsible for reviewing and approving the compensation structure for executive officers [378]. - The board of directors has the powers necessary for managing the company's business affairs under Cayman Islands law [380]. Ownership Structure - Bin Xue, CEO, holds 141,578 Class B shares, representing 79.41% ownership in Class B and 59.36% of total shares [401]. - GBUY GLOBAL LTD, controlled by Bin Xue, holds 142,134 Class B shares, accounting for 71.42% of Class B ownership [402]. - WEBUY TALENT LTD, also controlled by Bin Xue, holds 35,577 Class B shares, representing 0% ownership in Class B and 14.92% of total shares [401]. - Michelle Ting Ting Tan, Secretary of the Board, owns 5,990 Class B shares, which is 3.36% of Class B and 2.51% of total shares [401]. - All directors and executive officers collectively own 147,568 Class B shares, equating to 82.77% of Class B and 61.87% of total shares [401]. - Bin Xue has a 74.17% equity interest in GBUY GLOBAL LTD and 100% in WEBUY TALENT LTD [401]. - The total beneficial ownership of Class B shares by Bin Xue and associated entities is significant, indicating strong control over voting power [401]. - The company has a concentrated ownership structure, with a few individuals holding the majority of shares [401]. - The data reflects a strategic alignment of ownership and control among key executives and directors [401]. Labor Relations - The company has not engaged in any labor disputes and maintains good relationships with its employees [398]. - The company has not compensated its directors for their services other than reimbursing out-of-pocket expenses incurred in connection with their attendance at meetings for the fiscal years ended December 31, 2024 and 2023 [393].
Webuy Global Ltd. Provides Update on Nasdaq Listing and Strategic Growth Initiatives
Globenewswire· 2025-02-13 13:00
Core Viewpoint - Webuy Global Ltd. is facing delisting from Nasdaq due to non-compliance with the minimum bid price requirement but is actively pursuing a compliance plan and expanding its AI-driven business model to enhance growth and shareholder value [2][3][6]. Nasdaq Compliance and Appeal Process - On January 22, 2025, Webuy received a delisting notice from Nasdaq for failing to meet the $1.00 minimum bid price requirement, leading to suspension of trading on January 31, 2025 [2]. - The company has formally appealed the delisting decision and is scheduled to present its compliance plan at a hearing on February 27, 2025 [3]. Reverse Stock Split and Compliance Plan - Shareholders approved a reverse stock split at the AGM on December 18, 2024, with a ratio of 1-for-10 to 1-for-40, and the Board approved a 1-for-40 split on January 15, 2025 [4]. - Following the delisting notice, Webuy's shares are now traded on the OTC market, requiring additional approval from FINRA for the reverse split, with an application submitted on February 3, 2025 [5]. Strong Business Performance and AI Expansion - Despite procedural challenges, Webuy remains financially robust, having raised $3.6 million in a registered direct offering on December 17, 2024, to enhance its AI-powered solutions in e-commerce and travel [6]. - The company is committed to regaining its Nasdaq listing and executing its AI-driven growth strategy to create long-term shareholder value [6]. About Webuy Global Ltd. - Webuy is a technology-driven company aiming to be the leading e-commerce and travel platform in Southeast Asia, utilizing advanced AI technologies to enhance its 'group buy' model and provide personalized travel solutions [7]. - The company focuses on improving customer experiences through innovations like personalized itinerary planning and predictive demand analytics [8].