Weimob a WeChat-based CRM solution provider that helps businesses to build m-commerce platforms on WeChat at lower costs.
An announcement issued by Weimob Group has aroused heated debate. Weimob's production environment and data suffered artificial "malicious destruction" by its employees. As a result, the system was interrupted for 7 days, the production server failed, and a large amount of user data was deleted.
On March 5th, Tencent Cloud officially released a long article on the Weimob database repair record. Data security has become an issue that cannot be avoided by any enterprise in the digital business era, and Shang Cloud can be used as a way to strengthen data security, which should be valued by enterprises.
The Hong Kong-based company Weimob Group announced that it plans to subscribe for 63.83% of Wuxi Yazuo Online Technology Co., Ltd. (hereinafter referred to as Yazuo) for CNY 114 million. On February 20, Weimob Group closing up 6.84%.
In 2019, it is estimated that total precision billing revenue will reach CNY 4.8 billion, SaaS revenue will increase to CNY 470 million, SaaS customer churn rate will drop to 21.6%, and adjusted net profit will be CNY 52.7 million. However, unexpected COVID-19 and the recent "delete database" event will put pressure on FY20 revenue growth.
The company's revenue is expected to continue its high growth trend in 2020. The company's Hong Kong stock market was listed in January 2019 and it was included in the Hang Seng Index in September 2019. For reference, overseas SaaS companies such as Shopify and Salesforce have the same high expenses during their high-speed growth, and the valuation level is around 10 XPS.