Tag: Society Pass

Society Pass (Nasdaq: SOPA) to Present at the Singapore Fintech Festival on 02-04 November 2022

Society Pass Incorporated (Nasdaq: SOPA) (SoPa or the Company), Southeast Asia’s (SEA) leading data-driven loyalty and e-commerce ecosystem, today announces that SOPA management has been invited to present at the Singapore Fintech Festival (SFF), to be held on Wednesday, 02 November to Friday, 04 November 2022. The in-person venue for the event is Singapore Expo located at 1 Expo Drive, Singapore 486150.

SOPA management will present at the SFF at the following times:
Day 2 (Thursday, 03 November)
1645 – 1700 – Rokas Sidlauskas (SOPA Chief Marketing Officer)
1700 – 1715 – Raynauld Liang (SOPA’s Chief Financial Officer)

Day 3 (Friday, 04 November)
1545 – 1600 – Rokas Sidlauskas (SOPA Chief Marketing Officer)
1600 – 1615 – Loic Gautier (Leflair Inc Chief Executive Officer)

About Society Pass Inc
Founded in 2018 as a digitally-focused loyalty and data marketing 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 e-commerce 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 Society Pass loyalty 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 contact
PRecious Communications for SoPa
sopa@preciouscomms.com

Think Equity: Society Pass (Nasdaq: SOPA) – Initiating Coverage on Digital Commerce Platform for Southeast Asia with Upside Potential

Think Equity, LLC (Think Equity) initiates coverage on Society Pass Inc. (Nasdaq: SOPA) (SoPa).

Click Here (on Society Pass website) to view the full Think Equity research report. https://thesocietypass.com/wp-content/uploads/2022/09/ThinkEquity_SocietyPass_Initiation_ResearchReport_26Sep2022.pdf

Summary Points:

  • ECommerce Holding Company. Society Pass is an acquisition-focused eCommerce holding company operating six interconnected verticals in loyalty, lifestyle, food and beverage, telecoms, digital media, and travel, connecting millions of registered consumers and thousands of registered merchants in Southeast Asia. The company has on-boarded more than 3.3 million registered consumers and over 200K registered merchants and brands. The company generated $520K of sales in 2021, with a revenue forecast of $9.5 million for 2022 and $42.7 million for 2023.
  • Seasoned and Diverse Executive Team. The company is led by a team of seasoned Asia-based executives who have spent a total of over 150 years on the ground in Asia with operating, marketing, technology and financial experience there. Society Pass is the sixth company that Dennis Nguyen, Group Founder, Chairman and CEO, has taken public. Over half the executives and employees are female. The company’s board of directors brings diverse experiences from technology to finance, to legal, to investment banking/private equity. The company has built a sophisticated technology platform in four years and on-boarded over 3.3 million registered consumers and over 200k registered merchants/brands.
  • Integrated Ecosystem. Society Pass acquires companies in targeted verticals, which include lifestyle, food and beverage delivery, travel, digital media, telecommunications, and loyalty. In the lifestyle vertical, the company acquired Leflair in February 2021 and relaunched in the Vietnamese marketplace in September 2021. In food and beverage delivery, the company acquired Pushkart and Handycart in February 2022 and Mangan in July 2022. In July 2022, the company acquired Thoughtful Media, a Thailand-based digital media company. In August 2022, the company acquired NusaTrip, an Indonesia-based leading Southeast Asia OTA. The business model is to acquire companies in targeted verticals and integrate them into the platform.
  • Society Points. A Virtuous Cycle of Revenue Generation and Loyalty Creation in SEA. The company opportunistically acquires attractively valued companies to synergistically generate additional revenue streams, optimize efficiencies for merchants, and more cost-effectively aggregate consumers and merchants through synchronized marketing campaigns. The company’s loyalty platform, Society Points, drives this revenue generation and loyalty creation processes. The company has launched a beta version of the Society Pass app in June 2022 and expects to fully launch the app in 1Q 2023.
  • Strategies for Digital Commerce in Asia/Pacific. Southeast Asia’s digital commerce revenue is expected to reach a 10-year CAGR of 32% by 2025. Business unit leaders, like Society Pass, carefully select their markets. Based on industry estimates, the expected growth of consumer spending on digital commerce for the Southeast Asian region will exceed $88 billion by 2025. This comes from a low penetration of the total retail market. Southeast Asia presents attractive growth opportunities and challenges for SoPa.
  • Growth Strategies. As the company continues to acquire e-commerce platforms and apps in Southeast Asia, it should dramatically increase its revenue base, registered customer base, and registered merchant base. The company beta-launched its Society Pass loyalty platform in the second quarter 2022. The company is constantly upgrading its HR talent, especially identifying and mentoring female executives. It has built a powerful and integrated technology ecosystem targeting Southeast Asia, and operates in three of the world’s most attractive and fast-growing economies. Its senior executives have spent most of their lives in Southeast Asia running companies.
  • Valuation. Think Equity’s 12-month price target is $6, based on 3.9x FY23 sales per share estimate.
  • Solid Financials. As of June 30, 2022, the company had cash and cash equivalents of $28 million. For the six months ended June 30, 2022, the company’s stockholders’ equity was $35 million.

About Society Pass Inc
Founded in 2018 as a digitally-focused loyalty and data marketing 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, SoPa is an acquisition-focused e-commerce 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 Society Pass loyalty 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, please check out: http://thesocietypass.com/.

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

Filing of Society Pass (Nasdaq: SOPA) Form 8-K/A in Connection of Acquisitions of AdActive Media CA, Inc and Thoughtful Thailand Ltd; Acquired Subsidiaries Recognised 2021 Revenues of US$5.6 million

Society Pass Incorporated (Nasdaq: SOPA) (SoPa or the Company), Southeast Asia’s (SEA) leading data-driven loyalty and e-commerce ecosystem, today announces the filing of Form 8-K/A with the Securities and Exchange Commission (SEC) in connection of acquisitions of AdActive Media CA, Inc (the CA Sub) and Thoughtful Thailand Ltd (the Thailand Sub), (the Thailand Sub and the CA Sub comprise the Acquired Subsidiaries).

Click Here (on SEC website) to view the Form 8-K/A filing.
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001817511/000160706222000581/sopa091222form8ka.htm

Summary Points:

  • On 07 July 2022, SoPa, through its wholly-owned subsidiary, Thoughtful Media Group Incorporated (“Thoughtful Media” or “TMG”), a Nevada corporation, a Thailand-based, a social commerce-focused, premium digital video Multi-Platform Network (“MPN”)/social media influencer advertising platform, acquired from AdActive Media Group, Inc., a Delaware corporation, (i) all of the outstanding capital stock of the CA Sub, and (ii) 99.75% of all of the outstanding capital stock of the Thailand Sub.
  • Integrating the Acquired Subsidiaries onto its platform, TMG is a social commerce-focused, premium digital video MPN/social media influencer advertising platform headquartered in Thailand with an operating presence in the US, Vietnam, and Philippines. TMG expects to expand to Indonesia and Singapore in 4Q 2022.
  • The combined 1Q 2022 revenues and loss from operations from the Acquired Subsidiaries totaled $1,312,986 and $84,582, respectively.
  • The combined 1Q 2021 revenues and loss from operations from the Acquired Subsidiaries totaled $1,265,053 and $114,032, respectively.
  • The combined 2021 revenues and loss from operations from the Acquired Subsidiaries totaled $5,655,795 and $1,173,022, respectively.
  • The combined 2020 revenues and loss from operations from the Acquired Subsidiaries totaled $5,928,800 and $899,933, respectively.

About Society Pass Inc
Founded in 2018 as a digitally-focused loyalty and data marketing 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, SoPa is an acquisition-focused e-commerce 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 Society Pass loyalty 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, please check out: http://thesocietypass.com/.

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) Founder, Chairman and CEO, Dennis Nguyen, to Speak at the Wild Digital Southeast Asia 2022 Conference on 07 September 2022

Society Pass Incorporated (Nasdaq: SOPA) (SoPa), Southeast Asia’s (SEA) leading data-driven loyalty and e-commerce ecosystem, today announced that Founder, Chairman and Chief Executive Officer, Dennis Nguyen will speak at the Wild Digital Southeast Asia 2022 Conference at 11:30 AM (GMT +8) on Wednesday, 07 September 2022 at Le Meridien Kuala Lumpur, Malaysia. He will participate in the panel discussion titled The New Roll-Up Play: Evolution of Ecommerce Aggregators in SEA. Bringing together some of the eCommerce roll-up industry’s most influential thought leaders for the panel discussion, Mr Nguyen along with the other speakers will explore the core trends and technologies shaping the future of digital eCommerce aggregators, strategies for maintaining industry dominance in SEA as well as how one can gear up to a successful exit.

Southeast Asia presents huge opportunities given the rapidly increasing mobile and internet penetration in the region, paired with very attractive young demographics. The market opportunity for e-commerce companies is expanding at an ever-increasing rate in SEA, where a surge in digital adoption is driving user and merchant uptake as well as creating new technologies and accompanying business models.

Society Pass’s success up to this point has been built through offering unique value for both consumers and merchants, along with a sophisticated software infrastructure supporting that exchange. Society Pass consumers easily search and order anything they want through the Company’s various interconnected mobile and web platforms. Society Pass’s strategic alliances, delivery arrangements, and payment processing are also done within the platform, reducing the inconvenience of checkout for consumers.

About Society Pass Inc
Founded in 2018 as a digitally-focused loyalty and data marketing 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, SoPa is an acquisition-focused e-commerce 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 Society Pass loyalty 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, please check out: http://thesocietypass.com/.

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 Company (Argus Research) issues Equity Research Report on Society Pass Inc. (Nasdaq: SOPA) (SoPa).

Click Here (on Society Pass website) or Here (on Argus Research website) to view the full Argus Research Equity Research Report. https://tinyurl.com/ArgusResearch-SOPA-26August

Summary Points:

  • Society Pass Inc. (“SoPa”), founded in 2018 and based in Singapore, operates e-commerce platforms in Southeast Asia (“SEA”). SoPa focuses on the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore, and Thailand, which together account for more than 80% of the Southeast Asian population. SoPa’s vertical markets include Lifestyle, Grocery and Food Delivery, Mobile Telecommunications, Loyalty, Travel, and Digital Media. 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’s business model is based upon acquiring smaller e-commerce companies with high growth potential at a relatively low cost and expanding its user base across a robust product and service ecosystem. SoPa plans to integrate these diverse businesses by attracting and retaining customers through a loyalty program called Society Points, which has entered beta testing and is expected to launch broadly in the beginning of 2023. Loyalty program members will be able to redeem points to make purchases directly from Society Pass or from affiliated merchants. They will also receive personalized promotions and discounts based on the company’s data capabilities and understanding of consumer shopping behaviour. Argus Research believes that this open-loop loyalty program differentiates Society Pass from other regional competitors.
  • As of August 2022, SoPa has amassed more than 3.3 million registered consumers and over 205,700 affiliated merchants and brands. Second-quarter 2022 revenues of approximately $500,000 reflect the nascent stage of its platform rollout.
  • Argus Research has a favourable view of SoPa’s target markets given its still limited e-commerce capabilities and strong projected growth. Vietnam, Indonesia, Philippines, Singapore, and Thailand all have young, rapidly-growing populations with a median age of 25-32, compared to an estimated 42 in China, a much more mature market. SEA economies are also growing at a faster-than-average rate. According to the International Monetary Fund, since 2010, SEA has averaged 4.6% GDP growth, compared to 0.7% in Japan, 0.8% in the EU, and 1.7% in the US.
  • Argus Research forecasts 2022 revenues of $7 million and 2023 revenue of $30 million, primarily driven by Leflair and supported by Pushkart, Handycart, and other recently completed acquisitions. Argus Research expects the broad launch of the Society Points programs to accelerate the revenue growth trajectory, and Argus Research forecasts a revenue run rate of approximately $40 million by the end of 2023 (for entities whose acquisition have already closed).
  • SoPa’s recent market cap near $50 million is close to one-time 2023 year-end revenue run-rate forecast of $40 million, and well below the average multiple of four-to-five times for a basket of comparable e-commerce peers. Argus Research believes the current valuation does not seem to reflect adequately SoPa’s growth prospects, driven by acquisitions, the loyalty points program, and continued economic recovery in SEA. Further, Argus Research thinks that the restructuring of Leflair to a separate entity that can eventually support its own public listing can unlock shareholder value for SoPa, with an attractive return on capital, under a holding company model.
  • To value Society Pass, Argus Research applies a six-times multiple to a year-end 2023 revenue run-rate forecast of $40 million, discounted back one period at 10%. Argus Research then adjusts based on its outlook for $15 million in cash and share count of 30 million at the end of 2022, and arrive at a fair value estimate for SOPA of $8 per share, well above current levels.
  • In Argus Research’s view, a premium to the peer average is warranted, given the early stage of Society Pass’ revenue-growth trajectory. Argus Research notes that its revenue assumptions could change significantly, as the company continues its M&A strategy and integrates new companies into its product and service ecosystem.

About Society Pass Inc
As a digitally-focused loyalty and data marketing ecosystem in Vietnam, Indonesia, Philippines, Singapore and Thailand and with offices located in Angeles, Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Manila, and Singapore, SoPa is an acquisition-focused e-commerce 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.

SoPa’s business model focuses on analysing user data through its Society Pass loyalty platform and circulation of its universal loyalty points or Society Points. The SoPa loyalty platform drives customer acquisition and increases customer retention for merchants. Since its inception, SoPa has amassed over 3.3 million registered consumers and over 205,000 registered merchants/brands onto its platform. 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, the leading local restaurant delivery service in Philippines. For more information, please check out: http://thesocietypass.com/.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

Spartan Capital: Society Pass (Nasdaq: SOPA) – SoPa’s Nusatrip Cleared for Take-off

Spartan Capital Securities LLC (“Spartan Capital”) issues Equity Research Report on Society Pass Inc. (Nasdaq: SOPA) (“SoPa”).

Click Here (on Society Pass website) to view the full Spartan Capital Equity Research Report. https://tinyurl.com/SpartanCapital-SOPA-25August

Summary Points:

– Society Pass recently closed on its acquisition of the Indonesian online travel site Nusatrip just as the Indonesian travel market is taking off with international travel up 525% year-to-date.

– The deal was signed at an event on July 1st and just closed on August 15th with SoPa paying $620,000. Spartan Capital attended the closing event, visited Nusatrip’s Jakarta offices, met with its founder and CEO, and met the president of the seller, PT Moratelindo in Jakarta. Moratelindo is a telecom juggernaut in Indonesia with strong government connections, but Nusatrip was not a core business. The two companies remain close, for example with Nusatrip utilizing Moratelindo data centres, so SoPa has gained a strong, valuable partner in the region.

– Nusatrip is the third largest online travel agency in Indonesia, after Traveloka, which is independent, and Tiket.com, which is owned by the Indonesian conglomerate Djarum Group. According to recent press accounts, both have considered capital markets transactions in the last year which would value each in the billions of dollars. So Nusatrip could well be worth more than SoPa paid.

– Indonesia is a democracy with the fourth largest population in the world. GDP growth is projected at around 5% this year and next and its rapidly growing young population is served by numerous ultra-low-cost carriers (ULCCs). In Spartan Capital experience, young emerging market adults tend to avail themselves of international travel as soon as they have some disposable income. The domestic market is huge as Indonesia is an archipelago consisting of 18,000 islands, so much travel is by air, not by car.

– Nusatrip was EBITDA positive and growing rapidly before the pandemic with positive EBITDA from 2014, its second year in business, to 2018.

– The Indonesian travel market is again booming with traffic up 92% over 2021 through the first six months of this year. Spartan Capital expects this rebound to continue as it began later than the US and European markets and traffic is only about half that of 2019, before the pandemic.

– So, in Spartan Capital’s view, SoPa has impeccable timing, buying a business that was loaded with debt incurred to cover operating costs during the pandemic but poised for rapid growth, and likely to return to profitability again soon.

– Spartan Capital identifies six relatively straightforward synergies between Nusatrip and the other SoPa business units which should drive revenue across the ecosystem, furthering the founder’s dream of creating the next billion-dollar Southeast Asia super-app.

1. Expand Nusatrip to the other four countries where SoPa operates.
2. Cross sell Gorilla travel eSIMs so Nusatrip international travel customers can use their phones abroad.
3. Leverage Thoughtful Media social media/influencer marketing to market the service.
4. Leflair, SoPa’s luxury goods flash sale app, is launching in Indonesia later this year.
5. Allow Nusatrip customers to earn points through the Society Pass loyalty program to purchase goods on any of the seven other SoPa businesses.
6. Allow customers of the other seven SoPa businesses to use their loyalty points for travel booked through Nusatrip.

About Society Pass Inc

As a digitally-focused loyalty and data marketing ecosystem in Vietnam, Indonesia, Philippines, Singapore and Thailand and with offices located in Angeles, Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Manila, and Singapore, SoPa is an acquisition-focused e-commerce holding company operating 6 interconnected verticals (loyalty, lifestyle, F&B, telecoms, digital media, and travel), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

SoPa’s business model focuses on analysing user data through its Society Pass loyalty platform and circulation of its universal loyalty points or Society Points. The Society Pass loyalty platform drives customer acquisition and increases customer retention for merchants. Since its inception, SoPa has amassed over 3.3 million registered consumers and over 205,000 registered merchants/brands onto its platform. It has invested 2+ years building proprietary IT architecture with cutting-edge components 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 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, Mangan, the leading local restaurant delivery service in Philippines, Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator, Thoughtful Media Group, a Bangkok-based, a social commerce-focused, premium digital video multi-platform network, and NusaTrip (“NusaTrip”), a leading Jakarta-based Online Travel Agency (“OTA”) in Indonesia and across SEA. For more information, please check out: http://thesocietypass.com/.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

Maxim: Society Pass (Nasdaq: SOPA) Raise Estimates on Expected Contributions from M&A, Positive on the South East Asia E-commerce Market

Maxim Group LLC (Maxim) issues Equity Research Report on Society Pass Inc. (Nasdaq: SOPA) (SoPa).

Click Here (on Society Pass website) to view the full Maxim Equity Research Report. https://tinyurl.com/Maxim-SOPA

Summary Points:

  • SOPA is in the early stages of building an online South East Asian company. Luxury store, Leflair, was the primary revenue contributor for 2Q22. Other businesses are food and beverage online support, online delivery companies Handycart and Pushkart (bought during 1Q22), and Mangan.ph (2Q22), as well as Gorilla Networks, a telecom MVNO (early June ’22). SOPA is also starting a loyalty points offering. Maxim believes there should be significant cross-selling opportunities and organic growth in the future. Specifically, Maxim believes Thoughtful Media can market the Company’s other brands and the food delivery and luxury brand businesses can be expanded geographically. Maxim has a positive view on the SEA market given faster-than-expected growth rates, increasing mobile and ecommerce penetration, younger populations, travel opening back up, and the opportunity to consolidate smaller companies.
  • 2Q22 revenue of $445K increased significantly from $8K in the prior year quarter, but was below our estimate of $670K. Results were held back as most of its businesses were very early stage. Almost all the quarter’s revenue came from the online ordering segment, which currently consists of the company’s online luxury store, Leflair. The cost of online marketing limited the amount put to use. Hardware and Software segments are currently not being prioritized. 3Q22 adjusted EBITDA loss of ($4.4M) was wider than our estimate of ($3.3M) and a loss of ($0.1M) in the prior year quarter. The variance vs. our estimate is primarily due to 1-time costs related to capital raises, M&A, higher growth investments, and public company-related costs.
  • Healthy cash. SOPA ended June 2022 with $28M in cash and no debt. Cash included the $25M, net from November 2021 IPO and $10.7M, net from a February 2022 capital raise. Maxim projects current cash levels to be sufficient to fund organic growth over the next two years.
  • Maxim raises revenue projections and expect significant growth for the next two years. Maxim expects growth from spending on marketing, expansions, and launch of Loyalty Points in mid-2022 and factoring in contributions from all announced acquisitions.
  • Maxim projects revenue to increase from $0.5M in 2021, to $12.9M in 2022 (unchanged), and $54M in 2023 ($38.2M prior). The increase is due to the significant expected contribution from acquisitions and organic growth. Maxim projects 2022 adjusted EBITDA loss to widen to ($13.9M) (($12.7M prior), from a loss of ($4.9M) in 2021. The higher loss is due to one time costs related to acquisitions and higher public company expenses. For 2023, Maxim projects the adjusted EBITDA loss narrows to ($2.2M) from ($4.7M) prior.
  • Compelling valuation – Maxim believes SOPA is undervalued and trades at a discount to its peer group. SOPA trades at an EV/revenue multiple of 0.4x our 2023 revenues compared to a peer group EV/revenue multiple of 2.3x our 2023 revenues. Maxim’s positive outlook is supported by the attractive SE Asian markets and opportunities to consolidate smaller companies. Management has announced plans to spin off Leflair Group and to have it listed on the Nasdaq by the end of 2022.

About Society Pass Inc
As a digitally-focused loyalty and data marketing ecosystem in Vietnam, Indonesia, Philippines, Singapore and Thailand and with offices located in Angeles, Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Manila, and Singapore, SoPa is an acquisition-focused e-commerce holding company operating 6 interconnected verticals (loyalty, lifestyle, F&B, telecoms, digital media, and travel), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

SoPa’s business model focuses on analysing user data through its Society Pass loyalty platform and circulation of its universal loyalty points or Society Points. The Society Pass loyalty platform drives customer acquisition and increases customer retention for merchants. Since its inception, SoPa has amassed over 3.3 million registered consumers and over 205,000 registered merchants/brands onto its platform. 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 Leflair.com, Vietnam’s leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; Handycart.vn, a leading Vietnam-based restaurant delivery service; Mangan, a leading local restaurant delivery service in Philippines; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Thoughtful Media Group, a Bangkok-based, a social commerce-focused, premium digital video multi-platform network, and NusaTrip, a leading Jakarta-based online travel agency in Indonesia and across SEA. For more information, please check out: http://thesocietypass.com/.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

Spartan Capital: Society Pass (Nasdaq: SOPA) 10Q Shows Early Progress for Four Verticals

Spartan Capital Securities LLC (Spartan Capital) issues Equity Research Report on Society Pass Inc. (Nasdaq: SOPA) (SoPa).

Click Here (on Society Pass website) to view the full Spartan Capital Equity Research Report. https://tinyurl.com/SocietyPass

Summary Points:

  • Vietnamese e-commerce luxury goods retailer Leflair generated 92% of revenue and has strongly rebounded since being purchased out of bankruptcy and relaunched last year. Leflair posted a minor gross loss and a $694k operating loss. We look for four major catalysts for Leflair for the remainder of 2022: first, the launch of a new app, second, re-entry into the Philippines market, entry into the Indonesian market and the 4Q holiday shopping season.
  • The second largest contributor was online grocery and food delivery comprising 5% of revenue. This included both Pushkart, which offers supermarket delivery in the Philippines and Handycart which offers restaurant delivery in Hanoi, Vietnam. We suspect that Pushkart generated the bulk of this revenue. During 3Q, the company acquired Mangan, a restaurant delivery company in the Philippines, which should substantially increase segment revenue.
  • The telecom segment is represented by Gorilla which was acquired in May. It generated $5.6k in data sales revenue, versus our estimate of zero, ahead of the relaunch of its app planned for late 3Q.
  • Both telecom and merchant POS had modest positive gross income, while the other two did not, netting to effectively zero. The operating loss was $7.6 million, with the vast majority of this related to G&A. As revenue ramps, we expect each unit to first turn a positive gross margin, then cover operating expenses. As is normal for a growth company, we expect costs related to growth to keep operating income negative for at least the next year.
  • Lastly, EBITDA came in at negative $4.4 million and the company ended June with $28 million in cash. Our model has the company generating $10 million more in EBITDA losses through the end of 2023 before turning positive in 2024, so cash appears more than adequate. The Q also provided details on recent acquisitions, which are being done with modest cash outlays — all seven closed acquisitions were done for about $1.2 million in cash, plus stock. So we see the opportunity for many more acquisitions as well with the cash on hand.

About Society Pass
As a digitally-focused loyalty and data marketing ecosystem in Vietnam, Indonesia, Philippines, Singapore and Thailand and with offices located in Angeles, Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Manila, and Singapore, SoPa is an acquisition-focused e-commerce holding company operating 6 interconnected verticals (loyalty, lifestyle, F&B, telecoms, digital media, and travel), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

SoPa’s business model focuses on analysing user data through its Society Pass loyalty platform and circulation of its universal loyalty points or Society Points. The Society Pass loyalty platform drives customer acquisition and increases customer retention for merchants. Since its inception, SoPa has amassed over 3.3 million registered consumers and over 205,000 registered merchants/brands onto its platform. It has invested 2+ years building proprietary IT architecture with cutting-edge components 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 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, Mangan, the leading local restaurant delivery service in Philippines, Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator, Thoughtful Media Group, a Bangkok-based, a social commerce-focused, premium digital video multi-platform network, and NusaTrip (“NusaTrip”), a leading Jakarta-based Online Travel Agency (“OTA”) in Indonesia and across SEA. For more information, please check out: http://thesocietypass.com/.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

Spartan Capital: Society Pass (Nasdaq: SOPA) – Southeast Asia eCommerce Super-App With Billion Dollar Potential

Spartan Capital Securities LLC (Spartan Capital) issues Equity Research Report on Society Pass Inc. (Nasdaq: SOPA) (SoPa).

Click Here https://bit.ly/3Bmg3l4 (on Society Pass website) or Here https://bit.ly/3vfGzc2 (with Spartan Capital Securities account) to view the full Spartan Capital Equity Research Report.

Summary Points:

  • Society Pass aspires to be the next major Southeast Asia (“SEA”) super-app. Comparable success stories such as Lazada, GoTo and Grab have all been accorded multi-billion valuations.
  • Spartan Capital forecasts SoPa to generate $7.2 million in revenue in 2022, $29.3 million in 2024, up 308% and $59.8 million in 2024, up 104%. Spartan Capital forecasts EBITDA loss narrowing from $10 million in 2022 to just $5.6 million in 2024, then turning positive in 2025.
  • Spartan Capital likens SoPa to what Masayoshi Son has done with SoftBank, headquartered out of Japan, although with an exclusive focus on e-commerce and SEA.
  • SoPa operates in five SEA countries (Singapore, Vietnam, Indonesia, Philippines, and Thailand), all are vibrant open economies, recovering from Covid lockdowns and now seeing dynamic growth. SEA consumers are younger and more tech-savvy than counterparts in the US.
  • SoPa owns 8 portfolio companies in food/beverage (F&B), luxury goods, telecoms, digital media, travel and merchant software sectors and ties them together with its Society Points loyalty program. The eight business units are:
  • Leflair – a Vietnam luxury goods flash sale e-commerce company akin to Groupon.
  • NusaTrip – an Indonesia travel website company serving the region akin to Expedia.
  • Thoughtful Media Group – a Bangkok-based social commerce firm serving US and Asian brands.
  • Gorilla Networks – a Singapore blockchain-enabled MVNO serving the mobile/travel markets.
  • Mangan – Philippines largest local restaurant food delivery company akin to GrubHub/DoorDash.
  • Handycart – a Hanoi, Vietnam restaurant delivery company poised to enter Saigon.
  • Pushkart – a Philippines supermarket delivery company akin to Instacart.
  • #HOTTAB – a Vietnam restaurant and hotel terminal/back-end software management platform.

  • Society Points and SoPa’s 8 subsidiaries offer multiple ways for consumers to earn loyalty points and to redeem such loyalty points for things of value.
  • Operating under a matrix management structure, SoPa is led by entrepreneurial Founder, Chairman and CEO, Dennis Nguyen, and a strong team of C-suite executives, business unit CEOs and country managers.
  • Over half of SoPa’s executives are female.

About Society Pass
As a loyalty and data marketing ecosystem in Singapore, Vietnam, Philippines, and Thailand and with offices located in Singapore, Hanoi, Ho Chi Minh City, Manila, Angeles and Bangkok, SoPa is an acquisition-focused e-commerce holding company operating 7 interconnected verticals (loyalty, merchant software, lifestyle, F&B, telecoms, digital media, and travel), which seamlessly connects millions of consumers and thousands of merchants across multiple product and service categories throughout SEA.

SoPa’s business model focuses on analysing user data through its Society Pass loyalty platform and circulation of its universal loyalty points or Society Points. The Society Pass loyalty platform drives customer acquisition and retention for merchants. Since its inception, SoPa has amassed over 2.1 million registered consumers and over 6,700 registered merchants/brands onto its platform. It has invested 2+ years building proprietary IT architecture with cutting edge components 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 Southeast Asia. SoPa operates #HOTTAB Biz and #HOTTAB POS – a Vietnam-based POS, CRM and analytics technology solutions provider for small and medium-sized enterprises, 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, Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator, Thoughtful Media Group, a Bangkok-based, a social commerce-focused, premium digital video multi-platform network, and Mangan, a leading local restaurant food delivery company in Philippines. For more information, please check out: http://thesocietypass.com/.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

Society Pass (SoPa) Marks First Foray into Thailand by Acquiring Bangkok-Headquartered Thoughtful Media Group, Southeast Asia’s Leading Digital Video Multi-Platform Network and Social Commerce Platform

  • SoPa acquires first company in Thailand and continues network expansion of its digital ecosystem throughout Southeast Asia (“SEA”)
  • Thoughtful Media’s social commerce-focused Multi-Platform Network (“MPN”) in Thailand, Vietnam, Philippines and the US amplifies SoPa’s loyalty offering
  • Thoughtful Media recorded revenues of US$5.8 million in 2021, forecasts significant revenue growth in 2022 and beyond
  • Thoughtful Media’s data-rich MPN has uploaded over 675,000 videos with over 80 billion video views since 2010, and the current network of 263 YouTube Channels has onboarded over 85 million subscribers
  • SoPa sees significant cross-marketing and revenue generation synergies between Thoughtful Media and rest of SoPa ecosystem

Society Pass Incorporated (SoPa or Society Pass) (Nasdaq: SOPA), Southeast Asia’s leading data-driven loyalty platform, today announces the acquisition of Thoughtful Media Group (Thoughtful Media), a social commerce-focused, premium digital video MPN headquartered in Thailand with an operating presence in the US, Vietnam, and Philippines. The acquisition of Thoughtful Media marks SoPa’s first foray into Thailand and adds to SoPa’s growing ecosystem of technology-enabled companies located in the SEA countries of Vietnam, Philippines, Singapore and Thailand.

Originally founded in 2010, Thoughtful Media today creates and distributes digital advertising campaigns across its MPN in both SEA and the US. With its intimate knowledge of local markets, digital marketing technology tools and social commerce business focus, advertisers leverage Thoughtful Media’s wide influencer network throughout SEA to market and sell advertising inventory exclusively with specific placement and effect. As a result, Thoughtful Media’s content creator partners earn a larger share of advertising revenues from international consumer brands. And according to Accenture, the social commerce market is poised to grow to US$1.2 trillion by 2025 at a CAGR of 26%.

Thoughtful Media recorded revenues of US$5.8 million in 2021. Since its founding, Thoughtful Media’s data-rich MPN has uploaded over 675,000 videos with over 80 billion video views. The current network of 263 YouTube channels has onboarded over 85 million subscribers with an average monthly viewership of over 600 million views.

Thoughtful Media’s social commerce platform amplifies the reach and engagement of SoPa’s e-commerce ecosystem and retail partners. The growing ubiquity of social media influencers on shaping purchase decisions has driven increasingly greater numbers of brands to shift advertising budgets to this dynamic outlet. SoPa aims to increase customer engagement whilst also focusing on the quality of relationships through a campaign-based approach enabled by this synergistic acquisition.

Thoughtful Media’s digital advertising tools and expertise bolsters Society Points, SoPa’s paradigm shifting loyalty platform. Through data-driven marketing campaigns, advertisers of all types utilise Society Points’ proprietary 1st party data to improve the targeting, efficacy, and efficiency of their digital marketing spend. SoPa’s product offering uniquely positions Thoughtful Media as a leading SEA retail marketing and advertising hub for international and regional consumer brands.

Dennis Nguyen, Society Pass Founder, Chairman, and Chief Executive Officer comments, “We are thrilled to have Thoughtful Media join the ever-expanding SoPa ecosystem. Thoughtful Media’s social commerce-focused business model perfectly complements our future growth strategy for Society Pass as we drive consumer eyeballs and generate revenues for riveting consumer brands throughout Southeast Asia. In addition, Society Pass is excited to complete our first Thailand acquisition and look forward to launching our SoPa loyalty platform to the 65 million consumers in Thailand”.

Dan Thorman, Thoughtful Media Chief Executive Officer explains, “Thoughtful Media is led by an experienced management team in SEA and the US. We provide media owners with content creation and technology services that build and monetise their brands’ audience on numerous social platforms. With years of on-the-ground experience and industry expertise in developing influencer talent, producing social media content, coordinating advertising campaigns, aggregating influencer data, and onboarding millions of viewers onto our data-rich MPN, we track hundreds of millions of authenticated global video views a month across key social media platforms. Partnering with Society Pass allows Thoughtful Media to unlock strategic opportunities with influencers and advertisers as well as design cross-marketing synergies for companies in the SoPa ecosystem. In doing so, we expect to drive tremendous revenue growth in 2022 and beyond”.

About Society Pass
As a loyalty and data marketing ecosystem in Singapore, Vietnam, Philippines, and Thailand and with offices located in Singapore, Hanoi, Ho Chi Minh City, Manila, and Bangkok, SoPa is an acquisition-focused e-commerce holding company operating 7 interconnected verticals (loyalty, merchant software, lifestyle, F&B, telecoms, digital media, and travel) seamlessly connecting millions of consumers and thousands of merchants across multiple product and service categories in SEA.

Society Pass business model focuses on analysing user data through its Society Pass loyalty platform and circulation of its universal loyalty points or Society Points. Since its inception, SoPa has amassed over 1.6 million registered consumers and over 5,500 registered merchants/brands on its platform. It has invested 2+ years building proprietary IT architecture with cutting edge components to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass provides merchants with #HOTTAB Biz and #HOTTAB POS – a Vietnam-based POS, CRM and analytics technology solutions provider for small and medium-sized enterprises. In addition, SoPa operates 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 Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator. For more information, please check out: http://thesocietypass.com/.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com