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Bacolod City, Philippines Thursday, August 6, 2020
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Megaworld creates unit
for digital tech investments

 

Property giant Megaworld is creating a wholly-owned subsidiary that spearheads the company’s investments and ventures into digital innovations and technology as it takes advantage of opportunities brought about by changes in consumer behaviors and lifestyles in this digital age.

Agile Digital Ventures is its digital investment arm that will engage in investing and building technology start-ups that hope to support the country’s food, retail, and hospitality industries during these challenging times, a press release from Megaworld said.

The company initially allocated a three-year Capex of USD5 million or approximately P250-million to build its first start-up project for three years.

The first start-up investment is an all-in-one, on-demand premium lifestyle delivery app, which is set for public roll-out in August.

Customers can purchase products ranging from food, gadgets, hardware, kitchenware, children’s toys and stuff, pet care, personal care, medicines, office and school supplies, hotel dishes, liquor, to Covid-19 essentials, from over 300 local and international merchants, the press release said.

Orders may either be delivered on-demand, or on a later schedule. Customers may choose for regular delivery, drive-through, or takeaway pick-up for their orders.

“Our main goal is to help retailers smoothly migrate to the digital platform especially during this challenging time. Since 2018, we have been looking for investment opportunities on an app that will enable our retail partners sell and deliver their products online and on-demand. We have talked to several potential partners, but eventually, we decided to build our own,” Kevin Tan, chief strategy officer of Megaworld, and the president of Agile Digital Ventures Inc., said in the press release.*

 

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