Tag: Society Pass

Institutional Analyst: Our Number #1 Internet Company, Society Pass (Nasdaq: SOPA), Holds Appeal for Both Traders and Long-Term Investors

Institutional Analyst Inc (Institutional Analyst) issues Equity Research Report on Society Pass Incorporated (SoPa) (Nasdaq: SOPA), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem.

Click here to view the full Institutional Analyst Equity Research Report. https://internetstockreview.com/sopa-report-ii/

Summary Points:

  • Compelling investment thesis – With near $20 million of cash in the bank, versus a $28 million current market capitalization, and with four Wall Street firms price targets averaging $6.60 (500% higher) and their revenue projections ranging from $40 to $60 million in 2023, SoPa can only be defined as compelling.

SoPa is building a portfolio of eCommerce start-ups and has all the ingredients in a major winner:
— Easy to Understand Business Model
— Underfollowed
— Scaleable Sector, Offering 100X Growth Potential
— Offers US Investors Back Door Entry Into Fast Growing SE Asia
— Market Capitalization Under $500 Million
— Financially Sound
— Management Team With Both Financial and eCommerce Expertise
— Summary and How to Trade and Invest in SOPA
— Wall Street Coverge

  • Sustainable incubator business model – While still early (bottom of the first inning), the Society Pass business model is off to an excellent start, with six acquisitions last year alone. Institutional Analyst views incubators and accelerators as having the most ‘durable’ model of any in the technology sector, in that they are on a constant search for early-stage companies that are creating the latest and most innovative technologies or services.
  • Underfollowed – At $1.00 currently, Society Pass has a market value of $28 million with only 28 million shares outstanding. While we consider Society Pass to be under-followed, by no means is it un-followed. There are four Wall Street firms that have initiated coverage with lengthy research reports, totaling over 70 pages, including this report. With price targets averaging $6.60 or better than 500% higher than where it is currently trading, we could have headlined this section, “Loved But Under-followed”.
  • Easy to Understand Game Plan – SoPa doesn’t buy and fix. It buys or partners, and then supercharges or scales early technology start-ups. Led by former investment banker Dennis Nguyen, SOPA looks for visionary founders with three to four years of experience under their belt. Companies that may be growing at 50-70% a year. These are not companies needing to be fixed. Investing in SoPa is very much like investing in the experienced manager of a venture capital firm. Not investing in the venture capital fund
  • but in the experienced manager of the fund. This is where the Society Pass business attractiveness comes in. There are hundreds of viable acquisition candidates in SE Asia and any single one has the potential to be the next Tik-Tok (Tik-Tok after all didn’t know it was going to be the next Tik-Tok, when it was started in a three-bedroom apartment).
  • Scaleable Sector Offering 100X Growth Potential – There are very few limitations to the scalabilty of the Society Pass business plan. They need analysts and deal-makers to bring the acquisition targets under the SOPA umbrella. And they need to ensure the acquired companies understand the benefits of integrating with SOPA’s Loyalty program called ‘Society Points’, a digital wallet, and a defacto currency. It will tie all of its acquired companies together, enabling data integration (who’s buying what) leading to enhancing revenues for all its controlled properties and outlets. They’re not looking to grow this operation to 10x or 20x. They’re looking to expand this 100-fold.
  • Offers US Investors Back Door Entry Into Fast Growing SE Asia – Investing in Society Pass offers US investors a back door entry into these fast-growing start-ups, with considerably less risk, as we can rely on an experienced management team to do all the hard work for us. The CEO is an entrepreneur who has taken six companies public. As a former investment banker, he can identify thousands and acquire scores of start-ups. We believe he is well-suited to guide us through a maze of opportunities.
  • Deep Management Team With Both Financial and eCommerce Expertise – The company is run by a deep bench of C-suite executives, country managers and business unit heads.

About Society Pass Inc.
Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.

SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa’s data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; Handycart.vn, a leading online restaurant delivery service based in Vietnam; and Mangan.ph, a leading local restaurant delivery service in Philippines.

For more information on Society Pass, please visit:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.

Cautionary Note Concerning Forward-Looking Statements
This press release may include “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus relating to the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

Dennis Nguyen, Founder/Chairman/CEO of Nasdaq-listed Society Pass Inc (Nasdaq: SOPA) to Speak at NXT CX Summit Indonesia

Society Pass Incorporated (“SoPa”) (Nasdaq: SOPA), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem, today announces that company founder, chairman, and CEO Dennis Nguyen has been invited to serve as the keynote speaker at the 8th NXT CX Summit Indonesia to be held on Wednesday, 22 February 2023. The title of the conference is “Holistic Approach to Indonesia’s Customer Transformation.”

Mr. Nguyen is the Founder, Chairman and CEO of SoPa. He has been an investment banker and venture capitalist with more than 25 years of deal experience in the SEA, Greater China, US, EU, Korea and Middle East markets. He founded Society Pass in 2018 and led the company to its historical initial public offering on Nasdaq in November 2021, being the first Vietnam-based company to complete a traditional IPO outside of Vietnam. SoPa aims to transform the entire retail value chain towards a more digital future in SEA with SoPa’s first-in-class loyalty, fintech and e-commerce ecosystem.

During the conference, Mr. Nguyen will talk about “Society Pass: Building the Next Generation Digital Ecosystem in Southeast Asia” at 10:45 am on Wednesday, 22 Feb 2023.

Event details:
Event: 8th NXT CX Summit Indonesia https://www.nxtcxsea.com/
Date: Wednesday, 22nd February 2023
Location: Hotel Indonesia Kempinski, Jakarta, Indonesia (In-person Conference)

About Society Pass Inc.

Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.

SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa’s data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

SoPa leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, digital advertising platform; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform; Handycart.vn, a leading online restaurant delivery service based in Vietnam; Mangan.ph, a leading local restaurant delivery service in Philippines and Pushkart.ph, a popular grocery delivery company in Philippines.

For more information on Society Pass, please visit:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.

Cautionary Note Concerning Forward-Looking Statements

This press release may include “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus relating to the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

Society Pass (Nasdaq: SOPA) Engages ThinkEquity to Facilitate Stock Repurchase Program of Up to US$2 Million Commencing on 01 February 2023

Society Pass Incorporated (SoPa) (Nasdaq: SOPA), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem, today announces that its Board of Directors has approved a stock repurchase program authorising the repurchase of up to US$2 million of its common stock, commencing on 01 February 2023.

Dennis Nguyen, Founder, Chairman and Chief Executive Officer, comments, “We are pleased to announce the approval of this share repurchase program, providing us with a significant tool to generate shareholder value. As of 31 December 2022, SoPa has approximately US$19 mn of cash and zero long-term debt. Given our closing stock price of $1.11 on 31 January 2023, our current undervalued market capitalisation presents an extremely attractive opportunity to buy our common shares at a significant discount to their intrinsic value. Our well capitalised cash position, which translates into approximately $0.70 per share, and strong revenue generation allow SoPa to build out our next generation fintech and e-commerce ecosystem in SEA through paradigm shifting acquisitions and fund this stock repurchase program.”

The Company engaged ThinkEquity LLC to purchase shares of the Company’s common stock from time to time in the open market at prevailing market prices, in privately negotiated transactions or other means in compliance with applicable federal securities laws. The timing and amount of stock repurchases under the program, if any, will be at the discretion of management, and will depend on a variety of factors, including price, available cash, general business and market conditions and other investment opportunities. Any shares acquired will be available for general corporate purposes. Information regarding share repurchases will be available in the Company’s periodic reports on Form 10-Q and 10-K filed with the Securities and Exchange Commission or as otherwise required by applicable federal securities laws. The Company had approximately 26.6 million shares outstanding as of 20 January 2023.

About Society Pass Inc.
Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.

SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa’s data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

SoPa leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, digital advertising platform; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform; Handycart.vn, a leading online restaurant delivery service based in Vietnam; Mangan.ph, a leading local restaurant delivery service in Philippines and Pushkart.ph, a popular grocery delivery company in Philippines.

For more information on Society Pass, please visit:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.

Cautionary Note Concerning Forward-Looking Statements
This press release may include “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus relating to the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

Institutional Analyst: Society Pass (Nasdaq: SOPA) Acquiring and Incubating Startups in the Heart of the Asian Silicon Valley

Institutional Analyst Inc (Institutional Analyst) issues Equity Research Report on Society Pass Incorporated (SoPa) (Nasdaq: SOPA), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem.

Click here to view the full Institutional Analyst Equity Research Report. https://internetstockreview.com/initiating-coverage-on-society-pass-sopa/

Summary Points:

  • Southeast Asia: the Asian Silicon Valley – SEA, including Indonesia, Philippines, Singapore, Thailand, and VietNam much like Northern CA, is widely known for having 100’s of thousands of well-educated, technology-savvy entrepreneurs. In sum, there are thousands of companies that could potentially be acquired, partially acquired, or incubated by Society Pass to generate shareholder value.
  • Visionary and experienced founder – Led by Dennis Nguyen, a University of Chicago Booth School of Business MBA graduate and entrepreneur, and former mergers and acquisition Investment Banker at Citigroup, Credit Agricole Indosuez, and Daiwa Securities. His over 25 years of Asia-based investment banking and venture capital experience, along with his team of bankers in identifying and bringing fast-growing technology start-ups to the acquisition negotiating table, creates a true sky-is-the-limit operating scenario.
  • Strong revenue generation in 2023 – Operating at breakneck speed to take advantage of the market turbulence over the past few years and currently, SoPa’s acquisitions-focused business model has quickly assembled a portfolio of seven exciting and growing companies, each exhibiting breakthrough potential to generate over US$100 million in group sales in 2023.
  • Huge and growing user and merchant base – SoPa’s seven portfolio companies have amassed 3.3 million registered users and 205,000 registered merchants.
  • Healthy balance sheet and strong cash levels – Currently, SoPa has nearly $20 million in cash, compared to a market capitalization of just $26 million today. It’s worthy to note Mr. Nguyen controls 7.7 million shares and has voting control of over 70% of the shares.
  • Strong technology and marketing teams – SoPa’s team of software developers rapidly improves the product or service offerings of its portfolio company, while its team of eCommerce marketing experts rapidly grows the subscriber base of such start-up.
  • In house accounting, legal and corporate restructuring experts – SoPa has at its resource, business, accounting, funding, legal, and corporate structure experts. Things that if ignored, can and often do later crush the dreams of even the most talented technology start-up founder.

About Society Pass Inc.
Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.

SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa’s data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; Handycart.vn, a leading online restaurant delivery service based in Vietnam; and Mangan.ph, a leading local restaurant delivery service in Philippines.

For more information on Society Pass, please visit:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.

Cautionary Note Concerning Forward-Looking Statements
This press release may include “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus relating to the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

Society Pass (Nasdaq: SOPA)/Thoughtful Media Group Acquires More Media, Indonesia-based Digital Design and Branding Agency

Thoughtful Media Group Inc (“Thoughtful Media” or “TMG”), the Thailand-based social commerce-focused, premium digital advertising network of Society Pass Incorporated (“SoPa”) (Nasdaq: SOPA), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem, today announces the acquisition of More Media, a leading Indonesia-based creative design and branding agency. The More Media acquisition extends TMG’s social commerce and influencer advertising business reach beyond Thailand and Vietnam and into the booming Indonesia digital advertising sector.

Founded in 2021 as an international caliber design and branding agency serving up-and-coming Indonesian companies in the beauty, F&B, e-commerce and logistics sectors, More Media has grown its client base through quick deployment of value-added services and understanding of the local market tastes. With its focus on storytelling and providing end-to-end branding services, More Media has onboarded a diverse roster of clients such as Langsre, Emilia, Kei Dining, and Allino. Post acquisition, More Media is re-branded as Thoughtful Media Indonesia with its Co-Founder, Eugenia Agnes Gusti, appointed as VP of Business Development for Thoughtful Media to drive sales and onboard Indonesia clients onto the regional TMG digital advertising platform.

Mr. Dennis Nguyen, Society Pass Founder, Chairman and Chief Executive Officer/TMG Chairman, exclaims, “We are so excited to welcome Eugenia Agnes Gusti, Ursula Michelle and the rest of the More Media into our ever-expanding TMG platform. More Media seamlessly blends into our product and geographical growth strategy for TMG as we enter yet another leading SEA market. By combining More Media’s market leading design and branding capabilities in Indonesia with TMG’s social commerce and influencer advertising focused MPN, we leverage our storytelling capabilities and amplify SoPa’s upcoming loyalty offering. And with this acquisition, TMG now operates in Thailand, Vietnam and Indonesia. Since SoPa acquired TMG back in July 2022, TMG has grown from strength to strength with headcount growing from a dozen professionals to over 30 staff in just a matter of months. As we enter Singapore, Philippines, and Malaysia markets in 2023, TMG is uniquely positioned to be the premier SEA regional digital advertising agency offering a significant value proposition for advertisers, merchants and influencers in SEA’s biggest economy.”

According to Influencer Marketing Hub, the influencer advertising market grew to US$16.4 billion in 2022 and the value of social commerce sales growing to US$958 billion in 2022. And according to Strategic Market Research, with Asia representing 70% of the market, the global social commerce market size is expected to reach US$7 trillion by 2030, representing a CAGR of 30% from 2021. Well-positioned to benefit from these growth forecasts, Indonesia’s digital advertising revenues are expected to soar this decade as increasingly more consumers make direct purchases on social media platforms, as social media sites are adopting innovative buying criteria and features, and as merchants incorporate shoppable posts and buy buttons on their respective pages. In addition, socially conscious consumers are influencing the evolution of the entire online retail industry. This trend comes as a result of the shifting inclination of brands from traditional celebrities to online influencers to endorse their products. Indeed, influencer marketing is quickly becoming an indispensable part of the mainstream branding strategies across organisations of all types.

“More Media is proud to officially merge with TMG. By joining forces with TMG’s broad advertising network and SoPa’s extensive ecosystem and large user and merchant bases in SEA, we are thrilled about expanding our business to fully become an end-to-end digital marketing company. According to Grand View Research, the global influencer marketing platform market size was valued at USD 10.39 billion in 2021 and is now expected to expand at a compound annual growth rate (CAGR) of 33.4% from 2022 to 2030. With this explosion in influencer advertising and social commerce throughout SEA, Thoughtful Media Indonesia is well positioned to generate significant revenues in 2023 and occupies a central position in Indonesia’s large and fast-paced growing advertising market, both online and offline,” explains Ms. Eugenia Agnes Gusti, Co Founder, More Media.

About Society Pass Inc.

Founded in 2018 as a next generation, data-driven, loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.

SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa’s data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital advertising network; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; Handycart.vn, a premier online restaurant delivery service based in Vietnam; and Mangan.ph, a leading local restaurant delivery service in Philippines.

For more information on Society Pass, please review the following online information which is not part of this press release:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.

Cautionary Note Concerning Forward-Looking Statements

This press release may include “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus relating to the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

Society Pass (Nasdaq: SOPA) Announces 2021 Annual General Meeting of Shareholders to be held on 20 December 2022

Society Pass Incorporated (“SoPa” or the “Company”) (Nasdaq: SOPA), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem, today announces that it will hold its 2021 Annual General Meeting (“AGM”) of shareholders at 9:00 A.M. US Eastern time, or at 10:00 P.M. Singapore time, on Tuesday, 20 December 2022 to be held virtually here from Society Pass’ headquarters at Grace Global Raffles, #14-01, 137 Market Street, Singapore 048943. The Company’s Schedule 14A was filed with the US Securities and Exchange Commission (“SEC”) on 01 December 2022.

The Company’s annual report can be downloaded at here ( https://thesocietypass.com/index.php/investor-relations/ ). The Company’s Form 10-K, including its audited financial statements for the fiscal year ended 31 December 2021, has been filed with the SEC and can be accessed on the SEC’s website at www.sec.gov.

Shareholders will vote on proposals for the election of board members, the amendment to the Company’s equity incentive plan and the ratification of the selection for the independent registered public accounting firm for approval at the AGM. The AGM will also serve as a forum for management to discuss Company affairs with shareholders.

The Board of Directors of the Company has fixed the close of business on 21 October 2022 as the record date (the “Record Date”) for determining the shareholders entitled to attend the AGM or any adjournment or postponement thereof.

Holders of record of the Company’s common and preferred shares at the close of business on the Record Date are entitled to attend the AGM and any adjournment or postponement thereof virtually. Holders of record of the Company’s common and preferred shares planning to attend the AGM in person are required to indicate their interest to attend the AGM by following the procedures indicated in the Notice of Annual Meeting of Stockholders.

About Society Pass Inc.

Founded in 2018 as a next generation, data-driven, loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.

SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa’s data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital advertising network; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; Handycart.vn, a premier online restaurant delivery service based in Vietnam; and Mangan.ph, a leading local restaurant delivery service in Philippines.

For more information on Society Pass, please review the following online information which is not part of this press release:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.

Cautionary Note Concerning Forward-Looking Statements

This press release may include “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus relating to the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

Argus Research: Society Pass (Nasdaq: SOPA) Building a Loyalty-Driven E-Commerce Platform in Southeast Asia

Argus Research Co (Argus) issues Equity Research Report on Society Pass Incorporated (SoPa) (Nasdaq: SOPA), SEA’s leading data-driven loyalty, fintech and e-commerce ecosystem.

Click here to view the full Argus Research Co Equity Research Report. https://tinyurl.com/ycxymnxz

Summary Points:

  • Compelling fair value valuation. Applying a 4 times revenue multiple to its 2023E revenue run-rate forecast of $60 mn, adjusting for $23 million in net cash and estimating share count of 34 mn at 2023E, Argus arrives at a fair value estimate for SOPA of $7.50 per share.
  • Breakout year on year revenue growth in 3Q 2022. 3Q 2022 revenues were $2.1 mn, up from $83,000 in 3Q 2021, reflecting a rapidly accelerating platform rollout.
  • Accelerating 2022 and 2023 revenue projections. Argus forecasts 2022 revenues of $7 mn and 2023 revenue of $40 mn, driven by on-line travel booking and digital marketing. Argus forecasts Society Points to accelerate revenue growth with a revenue run rate of $60 mn by 2023E.
  • Healthy balance sheet. SoPa had cash of $23.0 mn and shareholders’ equity of $27.6 mn.
  • Significant onboarding of consumers and merchants. SoPa has amassed more than 3.3 million registered consumers and over 200,000 registered merchants/brands. Argus sees SoPa building critical mass in its user base to support it loyalty program.
  • Material revenue generating acquisitions. In 3Q 2022, Society Pass closed 4 acquisitions of consumer-focused businesses, highlighted by Singapore-based Gorilla Networks, a blockchain and web3 technology-enabled mobile telecommunications operator; Thoughtful Media, a Bangkok-based, social media platform; Philippines-based Mangan Group, which offers restaurant delivery services; and Nusa Trip, an Indonesia-based online travel-booking site.
  • Society Points loyalty platform rollout. SoPa integrates these diverse businesses by attracting and retaining customers through an open-loop loyalty program, Society Points, which is expected to launch in 1Q 2023. SoPa announced a partnership with CoinSmart to add crypto payments capabilities and integration with Stripe’s financial payment infrastructure, which simplifies payment flow, accepts payments in multiple currencies, and features anti-fraud technology.
  • Travel Vertical. In August 2022, SoPa acquired NusaTrip, the 1st IATA-accredited Indonesian online travel agency. Leveraging its first-mover advantage among Indonesian corporate and retail customers, NusaTrip has engaged with +80 million unique visitors, and onboarded more than 1.2 million registered users, 500 airlines, and 200,000 hotels globally.
  • Digital Marketing Vertical. In July 2022, SoPa acquired Thailand-based Thoughtful Media, a social commerce-focused Multi-Platform Network, which recorded revenues of $5.8 million in 2021 and uploaded over 675,000 videos with over 80 billion video views since 2010. The network of 263 YouTube channels has onboarded over 85 million subscribers. Argus sees digital advertising enhancing Society Points and SoPa ecosystem via data-driven marketing campaigns.
  • Food and Beverage Vertical. In July 2022, SoPa acquired Mangan, a Philippines local restaurant delivery service. Mangan has generated +100,000 app downloads and onboarded +500,000 registered consumers, +80,000 social media followers, and +1,200 registered restaurants.
  • Telecommunications Vertical. In June 2022, SoPa acquired Singapore-based Gorilla Networks and will incorporate Gorilla’s blockchain/web3 technology onto its ecosystem. Consumers can convert unused mobile data into digital assets that can be redeemed for eVouchers or other VAS.

About Society Pass Inc.
Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.

SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa’s data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; Handycart.vn, a leading online restaurant delivery service based in Vietnam; and Mangan.ph, a leading local restaurant delivery service in Philippines.

For more information on Society Pass, please check out:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.

Cautionary Note Concerning Forward-Looking Statements
This press release may include “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus relating to the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

Society Pass Inc Integrates with Stripe Inc’s Payments Platform

  • Society Pass Inc (Nasdaq: SOPA) integrates with Stripe Inc (“Stripe”) payments platform to power transaction settlement services for merchants and consumers on SoPa’s ecosystem
  • Leveraging the cutting-edge technological solutions from Stripe, SoPa simplifies payment flows and provides superior shopping experience to consumers.

Society Pass Incorporated (SoPa) (Nasdaq: SOPA), Southeast Asia’s leading data-driven loyalty, fintech and e-commerce ecosystem, today announces the integration of Stripe’s financial infrastructure solutions onto the SoPa platform to power transaction settlement services for merchants and customers on SoPa’s ecosystem.

Leveraging Stripe’s cutting-edge technology solutions, Society Pass expands the product and geographical reach of its ecosystem, simplifies payment flows, and accepts payments at scale in multiple currencies. In addition, SoPa leverages Stripe’s anti-fraud technology, Stripe Radar, to detect and block fraud using machine learning. Merchants on SoPa’s ecosystem utilise Stripe’s payment infrastructure to accept credit and debit cards payments from customers, enable their customers to checkout in a simple way, and at the same time provide a superior shopping experience to consumers.

Rokas Sidlauskas, Chief Marketing Officer of Society Pass, comments, “We are thrilled to announce this integration with Stripe which provides diverse payment options to our consumers whilst streamlining the process for merchants to manage their finances and get paid faster. Since our incorporation, Society Pass has redefined the e-commerce experience for millions of registered consumers and hundreds of thousands of registered merchants in SEA. By offering convenience, flexibility, and control on both sides of the retail transaction, SoPa paves a win-win path for our merchants and consumers alike. Partnering with Stripe is an organic path to accelerate this goal”.

As a global financial infrastructure platform, Stripe makes it easy for companies to launch, run and scale their business from day one. Stripe offers a broad set of software tools, including services like built-in-machine-learning powered fraud protection, advanced analytics and infrastructure that makes it easy for businesses of all sizes to scale locally and internationally, while reducing the time and resources spent on payments so they can focus on their core business.

Society Pass’ first-in-class ecosystem transforms the entire retail value chain towards a more digital future in SEA. Looking ahead, SoPa will continue to simplify the use and access to online shopping, leveraging cutting edge technologies and capabilities to tailor more intelligent, individualized, and contextual experiences for the next generation consumers. In addition, SoPa is committed to make continuous efforts in reinforcing and diversifying its ecosystem by means of strategic acquisitions of market-leading companies and partnerships with visionary entrepreneurs in six distinct B2C e-commerce verticals: loyalty, lifestyle, food & beverage delivery, telecoms, digital marketing, and travel.

About Society Pass Inc.
Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.

SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa’s data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; Handycart.vn, a leading online restaurant delivery service based in Vietnam; and Mangan.ph, a leading local restaurant delivery service in Philippines.

For more information on Society Pass, please check out:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.

Cautionary Note Concerning Forward-Looking Statements
This press release may include “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus relating to the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

Society Pass Inc (Nasdaq: SOPA) Reports Breakout 9 Month 2022 and 3Q 2022 Financial Results

Society Pass Incorporated (“SoPa”) (Nasdaq: SOPA), SEA’s leading data-driven loyalty, fintech and e-commerce ecosystem, today announces a filing of its 3Q 2022 Form 10-Q with the Securities and Exchange Commission. Please see filing here. https://www.sec.gov/ix?doc=/Archives/edgar/data/0001817511/000160706222000677/sopa093022form10q.htm

Summary Points:
– Nine months 2022 unaudited revenues grew 2,870% year on year (from $100,823 for nine months ended 30 September 2021 to $2,994,416 for nine months ended 30 September 2022).
– Third quarter 2022 unaudited revenues grew 2,354% year on year (from $83,534 for third quarter ended 30 Sep 2021 to $2,050,264 for third quarter ended 30 September 2022).
– Third quarter 2022 unaudited revenues grew 311% quarter on quarter (from $499,062 for second quarter ended 30 June 2022 to $2,050,264 for third quarter ended 30 September 2022).
– With cash on hand of $23 million on 30 September 2022, SoPa is well capitalised for roll out of Society Pass loyalty platform and continuing acquisitions of Southeast Asia (“SEA”) companies in loyalty, lifestyle, food & beverage delivery, telecoms, digital media, and travel verticals for the rest of 2022 and 2023.
– Since inception, SoPa has onboarded 3.3 million registered consumers and over 205,000 registered merchants/brands onto its ever-expanding next generation digital ecosystem and loyalty platform in SEA.
– SoPa completed a total of three acquisitions in 3Q 2022.

Unaudited nine month 2022 revenues grew 2,870% year on year (from $100,823 for nine months ended 30 September 2021 to $2,994,416 for nine months ended 30 September 2022).

Unaudited third quarter 2022 revenues grew 2,354% year on year (from $83,534 for third quarter ended 30 September 2021 to $2,050,264 for third quarter ended 30 September 2022).

Unaudited third quarter 2022 revenues grew 311% quarter on quarter (from $499,062 for second quarter ended 30 June 2022 to $2,050,264 for third quarter ended 30 September 2022).

Reporting cash on hand of $23 million on 30 September 2022, SoPa is well capitalised for roll out of the Society Pass loyalty platform and continuing acquisitions of SEA companies in loyalty, lifestyle, food & beverage delivery, telecoms, digital media, and travel verticals for the rest of 2022 and 2023.

SoPa completed a total of three acquisitions in 3Q 2022, including Thoughtful Media Group (“TMG”), a Thailand-based a social commerce-focused, premium digital video multi-platform network, Mangan.ph, a Philippines-based restaurant delivery app, and a social commerce-focused, premium digital video multi-platform network, NusaTrip, a leading Indonesia-based Online Travel Agency.

With these three acquisitions, SoPa has now amassed over 3.3 million registered consumers and over 205,000 registered merchants/brands onto its ever-expanding next generation digital ecosystem and loyalty platform in SEA.

In the third quarter 2022, SoPa opened Bangkok and Jakarta offices.

Remarking on SoPa’s breakout 3Q 2022 financial performance, Society Pass CFO, Raynauld Liang, comments, “Our continuing robust year-on-year and quarter-on-quarter sales expansion confirms our momentum building, acquisitions focused operating model. We saw dramatic rise in revenues and number of registered consumers and registered merchants/brands. Leflair continues to recognise strong revenues, whilst our TMG and Nusatrip subsidiaries are generating the bulk of sales for the entire company. With the strong foundation being built, we look to achieve new highs in revenues as well as number of registered consumers and merchants in 4Q 2022 as we integrate market leading companies in the loyalty, lifestyle, food & beverage delivery, telecoms, digital media, and travel verticals.”

About Society Pass Inc

Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.

SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa’s data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; Handycart.vn, a leading online restaurant delivery service based in Vietnam; and Mangan.ph, a leading local restaurant delivery service in Philippines.

For more information on Society Pass, please check out:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.

Cautionary Note Concerning Forward-Looking Statements

This press release may include “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus relating to the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

Society Pass Inc (Nasdaq: SOPA) Awarded Game Changer Award from Alibaba Cloud AsiaStar 10×10 2022

On Friday, 04 November 2022 during the Apsara Conference, Alibaba Cloud awarded Society Pass Incorporated (“SoPa”) (Nasdaq: SOPA), Southeast Asia’s (“SEA”) leading data-driven fintech and e-commerce ecosystem, the Game Changer Award in recognition of companies that set precedents or broke records in Southeast Asia (SEA).

Initiated by Alibaba Cloud in 2009, the Apsara Conference witnesses the development of digital intelligence and technological innovation and 2022 marks the 13th edition of the conference. Known as AsiaStar 10×10, along with tech ecosystem partners, Alibaba Cloud recognises companies, communities, and projects in ten categories across SEA. The awardees are selected from the representatives of Alibaba Cloud, government agencies, investors, industry experts, and media outlets.

Raynauld Liang, Chief Financial Officer of Society Pass, explained, “Society Pass is building the next generation digital ecosystem in SEA. On behalf of our company, I would like to thank Alibaba for this recognition of SoPa’s paradigm shifting, game changing business model. With the digital platform we are building, Society Pass looks forward to closely working with Alibaba in the months and years ahead.”

About Society Pass Inc

Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.

SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa’s data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam’s leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; Handycart.vn, a leading online restaurant delivery service based in Vietnam; and Mangan, a leading local restaurant delivery service in Philippines.

For more information on Society Pass, please check out:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.

Cautionary Note Concerning Forward-Looking Statements

This press release may include “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus relating to the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com