Welcome to our dedicated page for Society Pass Incorporated news (Ticker: SOPA), a resource for investors and traders seeking the latest updates and insights on Society Pass Incorporated stock.
Society Pass Inc. (Nasdaq: SOPA) is a data-driven e-commerce ecosystem headquartered in Southeast Asia, established in 2018. The company operates across Vietnam, Indonesia, Philippines, Singapore, and Thailand, aiming to revolutionize the digital commerce space. Society Pass focuses on creating a seamless interaction between consumers and merchants through advanced AI cognitive analytics technology. This innovative approach helps in brokering transactions via a diverse range of value-enhancing and time-saving products and services, while also monetizing data for its platform partners.
The company comprises six main operating segments: Online Grocery and Food Deliveries, Digital Marketing, Online Ticketing and Reservation, Telecommunications Reseller, e-commerce, and Merchant Point of Sale (POS). Among these, the Digital Marketing segment is a significant contributor to the company’s revenue.
Society Pass has recently secured an equity line of up to $40 million to support potential public offerings of its subsidiaries. The first advance notice involved issuing 1,000,000 shares priced at $0.18 per share to Strattners FZCO, a family office arm of Strattners Bank SA. This capital infusion is pivotal for strategic growth initiatives, including potential spinouts of Thoughtful Media Group Inc. and NusaTrip Inc.
The company has also announced a 1-for-15 reverse split of its common stock effective from May 1, 2024, to maintain its listing on the Nasdaq Capital Market. This move will consolidate every fifteen issued and outstanding shares into one, thereby refining their capital structure without changing shareholders' percentage ownership.
Society Pass is committed to driving innovation across interconnected verticals such as loyalty programs, digital media, travel, telecommunications, and lifestyle services. It aims to meet the growing demand for advanced services in these sectors by partnering with visionary entrepreneurs and acquiring strategic companies.
The company has garnered positive investor sentiment, as indicated by Ascendiant Capital’s report. The report highlights strong economic expansion, urbanization, and mobile technology adoption as key growth drivers. It maintains a 'BUY' rating for Society Pass, albeit with a revised 12-month price target of $21, recognizing the company's high growth potential and strategic initiatives.
Society Pass (SOPA) has acquired Thoughtful Media Group, marking its entry into Thailand and expanding its digital ecosystem in Southeast Asia. Thoughtful Media, which operates in Thailand, Vietnam, the Philippines, and the US, focuses on social commerce and has generated US$5.8 million in revenue in 2021. The acquisition enhances SoPa's loyalty offerings, leveraging a network of over 263 YouTube channels with 85 million subscribers. This strategic move is expected to drive significant revenue growth and strengthen SoPa's position in the growing social commerce market, projected to reach US$1.2 trillion by 2025.
Society Pass (SOPA) has launched the beta version of its universal loyalty application, Society Pass, aimed at enhancing customer loyalty and generating revenue for merchants in Southeast Asia. The app allows users to earn and redeem Society Points across various retailers. The company plans to fine-tune the app with select businesses in Vietnam, Indonesia, Philippines, Thailand, and Singapore before a full launch in Q4 2022. With over 1.6 million registered users and 5,500 merchants, Society Pass aims to create a seamless shopping experience backed by real-time consumer data analysis.
Society Pass Inc. (Nasdaq: SOPA) is experiencing a significant rebound with its stock entering breakout territory due to heightened share volume. The company reported first-quarter 2022 revenues of $445,090, marking an impressive 4,600% year-over-year increase. With a cash reserve of $31 million and zero debt, Society Pass is well-positioned for growth through acquisitions, already registering 1.6 million consumers and 5,500 merchants. Notably, its recent acquisition of Gorilla Networks enhances its blockchain capabilities.
Society Pass (SOPA) has acquired Gorilla Networks, a Web3-enabled mobile virtual network operator based in Singapore. Gorilla offers contract-free mobile services, allowing users to convert unused data into digital assets called Gorilla GO tokens. With coverage in over 160 countries, Gorilla plans to expand across Southeast Asia as travel recovers in 2022. This acquisition will integrate Gorilla's blockchain technology into SoPa's ecosystem, enhancing customer retention and creating new revenue models, while meeting the increasing demand for a meta-economy experience in the region.
Argus Research updates its equity analysis on Society Pass Inc. (SOPA), noting a market cap under $40 million against a projected $50 million revenue run-rate for 2022. Society Pass reported Q1 2022 revenues of $445,090, a staggering 4,600% increase year-over-year. The company boasts nearly $31 million in cash and no debt, positioning it well for a robust M&A strategy. With over 1.6 million registered users and a fair value estimate of $10 per share, Argus forecasts substantial revenue growth to $14 million in 2022 and $38 million in 2023, driven by several acquisitions.
Society Pass Inc. (SOPA) released its 1Q22 results on May 17, highlighting significant growth as the company ramps up its online services. Revenue surged to $445K from $10K in the same quarter last year, primarily from its online ordering segment. The firm holds $31M in cash with no debt, ensuring a solid foundation for future growth. Two acquisitions in grocery and delivery, aimed at enhancing market reach, were also announced. Maxim Group forecasts revenues to rise to $12.9M in 2022 and $38.2M in 2023, driven by marketing initiatives and a forthcoming loyalty rewards program.
Society Pass (SOPA), a leading loyalty and e-commerce platform in Southeast Asia, has announced that founder Dennis Nguyen will present at the H.C. Wainwright Global Investment Conference from May 22-26, 2022, at the Fontainebleau Hotel in Miami Beach, FL. The event will feature over 500 corporate presentations. Since its launch, Society Pass has registered over 1.6 million consumers and 5,500 merchants on its platforms, focusing on data-driven user engagement and loyalty.
Society Pass Incorporated (SOPA) reported a remarkable 4,582% year-on-year revenue growth for Q1 2022, reaching $445,090. Cash reserves also increased by over 33% to $31 million. The company has expanded its ecosystem with over 1.6 million registered consumers and 5,500 merchants following the acquisition of Pushkart and Handycart. Society Pass plans to launch its loyalty points platform and pursue further acquisitions in Southeast Asia's food & beverage, travel, and telecom sectors in Q2 2022.
Society Pass Incorporated (SOPA) will be presenting at the Planet MicroCap Showcase 2022 on May 4, 2022, in Las Vegas. Founder and CEO Dennis Nguyen will provide a company overview and engage in 1-on-1 investor meetings. The presentation is scheduled for 10:30 AM PST, and those unable to attend can access the webcast on the conference platform. Society Pass is a loyalty and e-commerce ecosystem with over 1.6 million registered consumers and 5,500 registered merchants. For more information, visit their website.
The GrowHub Innovations Company has entered a strategic marketing partnership Memorandum of Understanding (MOU) with Society Pass (NASDAQ: SOPA), uniting their platforms to reach 1.6 million registered consumers in Southeast Asia. This collaboration allows customers to buy premium agri-food products directly from The GrowHub via Society Pass’s e-commerce platform, enhancing product offerings in the rapidly growing markets of Vietnam and the Philippines. The GrowHub, committed to food sustainability, utilizes blockchain technology to ensure food traceability and quality for its diverse product line from Western Australia.
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