Society Pass is building a digital ecosystem and loyalty platform in Southeast Asia that transcends multiple geographies and business verticals. Users are able to interact with over 650,000 merchants within the ecosystem across five key geographies in Southeast Asia (Thailand, Vietnam, The Philippines, Singapore and Indonesia). Users are provided thousands of daily deals across verticals such as fashion & lifestyle, travel, digital marketing, telecommunications and food and beverage) by engaging with those deals, users are rewarded with Loyalty points which can be redeemed immediately across the ecosystem. The merchants benefit from cross marketing of user databases and exposure to millions of users within Society Pass. More users lead to more loyalty and more loyalty leads to increased revenue for merchants.
Society Pass is one of the many featured companies slated to present at The Microcap Conference 2024, set for Jan. 31-Feb. 1 at Caesars Atlantic City Hotel and Casino. This three-day conference presented by DealFlow Events features technical programming designed for microcap investors and a presenting company track for pitching and socializing.
A brief history of Society Pass
The company was established in June 2018 in Nevada, with headquarters in Singapore.
The Society Pass mission is “to build a next generation digital ecosystem and loyalty platform in Southeast Asia.”
Their first acquisition was the ecommerce platform Leflair in Vietnam, focusing on fashion and lifestyle goods. Leflair listed on the Nasdaq in November 2021 under the ticker SOPA.
Further acquisitions followed with:
- Thoughtful Media Group – digital marketing agency focusing on influencer marketing, MCN, premium services. Based in Bangkok with regional offices in Saigon (Vietnam), Manila (The Philippines) and Jakarta (Indonesia).
- Nusatrip.com – Oldest online travel agency based in Jakarta (Indonesia). Operating globally, it counts 500+ airline partners and offers various travel options.
- Gorilla.Global – a travel telecommunications company, based in Singapore – offers digital eSIM solution for travelers worldwide. Provides ability to stay connected by offering various size Data plans globally.
The Society Pass Loyalty wallet is a proprietary feature developed in-house that allows users to be rewarded for every transaction made within the ecosystem. Those loyalty points can be redeemed within any Society Pass geography, irrespective of where they have been earned or in which business unit.
One example: A user buys a ticket via Nusatrip.com, gets reward points for that purchase and then can immediately use those points to purchase a Gorilla.Global eSIM or data plan.
Since its founding, Society Pass has successfully on-boarded over 3.7 million registered users and over 650,000 registered merchants within the company’s ecosystem.
Key personnel
Raynauld Liang, the newly appointed CEO of Society Pass has over 25 years of experience within capital markets, financing and taking companies public.
The management team has over 150 years of combined experience building successful businesses in Southeast Asia with multiple recorded exits.
Society Pass in its journey of going public, has been supported by leading industry auditors, legal firms and brokers.
The board of Society Pass is populated by senior executives across various industries who bring years of best-in-class experience and guidance across corporate management, corporate governance and other sectors of company management.
Looking to the future
Society Pass, like the majority of microcap companies on the Nasdaq, has experienced a challenging 20-month period, and the consensus is that the company’s current stock price does not represent the true value.
Two of the SOPA ventures (Thoughtful Media Group and Nusatrip.com) are profitable, with Nusatrip expected to generate GMV revenue of over $100 million 2023.
To create more value for shareholders and to showcase their successful case studies, the company’s goals include:
Acquiring relatively local companies in Southeast Asia.
Expanding them regionally across multiple geographies.
Setting them on the path of profitability.
Additionally, Society Pass intends to spin off Thoughtful Media Group and Nusatrip.com into their own public companies via IPOs in Q1 and Q2 of 2024. The announcements were publicized in October.
The CEO and CMO of Society Pass have attended the Nasdaq to update the market regarding the next steps.
Tickets to the inaugural Microcap Conference 2024 are going fast. Reserve your seat now for three days of unsurpassed networking and technical discussions of the microcap sector with some of the best names in the business – institutional investors, finance-focused law firms, venture and private equity fund managers, deal advisors, PIPE funds, brokerage firms, investor relations professionals, accredited retail investors and many more. The conference schedule is also packed with entertainment and exciting activities set against the backdrop of Atlantic City’s bright lights.
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