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Corporation
MOBILE & TELECOMMUNICATIONS | Mobile Software & Services / Payments
thesocietypass.com

Portfolio Exits

1

Partners & Customers

5

About SocietyPass

SocietyPass (NASDAQ: SOPA) provides a mobile payment solution focused on connecting consumers and merchants. It offers a loyalty technology platform, online ordering, and in-store payment solutions for its customers. Merchant software, loyalty, food, digital media, and travel are the primary client verticals for the solution provider. The company was founded in 2018 and is based in Hoh Chi Minh City, Vietnam.

Headquarters Location

SBI Building, Quang Trung Software Park Tan Chanh Hiep Ward District 12

Ho Chi Minh City,

Vietnam

+65 6518 9385

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Latest SocietyPass News

Society Pass Inc. (Nasdaq: SOPA) 1Q 2024 Shareholder Update and Analyst Recommendations

Jan 10, 2024

Society Pass Incorporated NEW YORK, Jan. 10, 2024 (GLOBE NEWSWIRE) -- Society Pass Inc. (Nasdaq: SOPA) (“SOPA” or the “Company”), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem, continues to capture the attention of financial analysts and investors, receive positive recommendations and achieve significant milestones. SOPA has accomplished annual triple digit revenue growth over the past four years through its innovative business model by acquiring high growth companies such as: Thoughtful Media Group , a Thailand-based, a social commerce-focused, premium digital video multi-platform network;  NusaTrip , a leading Indonesia-based Online Travel Agency; VLeisure , Vietnam’s leading provider of hotel management and payment solutions; Gorilla Global , a Singapore-based, mobile network operator; and Leflair , Vietnam’s leading lifestyle e-commerce platform. SOPA’s diversification strategy is mainly due to the fact that roughly 70% of SEA’s population is unbanked or underbanked and more people are connected everyday looking for services offered by SOPA. SOPA looks to continue to increase its portfolio of value-added brands within this rapidly expanding consumer market. Recent Analyst Recommendations: Litchfield Hills Equity Research Report (22 December 2023) summarised that SOPA is a high-growth acquisitive internet services company offering advertising, travel, retail, telecom and fintech services in fast growing SEA. Litchfield Hills forecasts positive EBITDA in 2024 as SOPA shifts from its early growth strategy to a focus on profitability under its new CEO. Ascendiant Capital Markets recommended a bullish outlook for SOPA stock as highlighted in their recently issued Ascendiant Capital Markets Equity Research Report (05 December 2023), emphasising the company's innovative subscription model and strategic partnerships as key drivers for its potential growth. Given that SOPA beat its 3Q 2023 estimates and cash balance remains strong, Maxim Group remains positive on SOPA’s organic growth and M&A strategy in its 3Q 2023 Maxim Group Equity Research Report (15 November 2023). Greenridge Global initiated coverage with a target price based on an EV/Revenue multiple of roughly 3 times the 2025 revenues Greenridge Global Equity Research Report (01 November 2023). It also affirmed SOPA’s potential for significant upside believes the market is not fairly valuing SOPA’s assets at this time and believes listing some of its subsidiaries provides greater transparency to SOPA’s overall business model. Structured Financing with Strattners: Society Pass Inc. recently executed a transformative structured financing agreement with Strattners, securing access to $40 million in funding. This strategic partnership empowers SOPA's subsidiaries to embark on NASDAQ IPOs in 2024. "The financing agreement with Strattners positions Society Pass Inc. for substantial expansion, providing avenues for growth and value creation," stated Raynauld Liang, SOPA CEO. The advantages of this collaboration extend to: Augmented financial flexibility to support subsidiary expansion; Accelerated growth and development of innovative services; Increased opportunities for shareholders to participate in the success of subsidiaries. A Year of Solid Achievements: Society Pass Inc. achieved numerous milestones over the past year, focusing on technological innovation, customer satisfaction, and shareholder value. Notable recent announcements include spinning out both Thoughtful Media Group and  NusaTrip into publicly traded entities via NASDAQ IPOs in 1H 2024. The company also revealed product launches. Additionally, the company secured a $40 million financing from financing group Strattners FZCO. Society Pass Inc. remains steadfast in delivering excellence in the subscription-based economy. The company invites investors to join in its journey of growth, innovation, and value creation. 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 Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 5 interconnected verticals (loyalty, digital media, travel, telecoms, and lifestyle), 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 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. 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 3.7 million registered consumers and over 650,000 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; VLeisure , Vietnam’s leading provider of hotel management and payment solutions; Gorilla Global , a Singapore-based, mobile network operator; and  Leflair , Vietnam’s leading lifestyle e-commerce platform. For more information on Society Pass, please visit: Website at https://www.thesocietypass.com or

SocietyPass Portfolio Exits

1 Portfolio Exit

SocietyPass has 1 portfolio exit. Their latest portfolio exit was Leflair on April 15, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

4/15/2022

Spinoff / Spinout

$99M

1

Date

4/15/2022

Exit

Spinoff / Spinout

Companies

Valuation

$99M

Acquirer

Sources

1

SocietyPass Acquisitions

8 Acquisitions

SocietyPass acquired 8 companies. Their latest acquisition was NusaTrip on August 15, 2022.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

8/15/2022

$99M

Acquired

9

7/20/2022

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$99M

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10

7/11/2022

Other

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$99M

$99M

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10

6/3/2022

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$99M

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10

2/27/2022

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$99M

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10

Date

8/15/2022

7/20/2022

7/11/2022

6/3/2022

2/27/2022

Investment Stage

Other

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$99M

Note

Acquired

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Sources

9

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SocietyPass Partners & Customers

5 Partners and customers

SocietyPass has 5 strategic partners and customers. SocietyPass recently partnered with 2C2P on August 8, 2023.

Date

Type

Business Partner

Country

News Snippet

Sources

8/4/2023

Partner

Thailand

Society Pass Announces Payments Partnership with 2C2P to Enhance Online Shopping Experience

Rachelle Alexis Lim , Executive Director of 2C2P , said , `` As we embark on this strategic partnership with Society Pass Incorporated , we look forward to enhancing the payments experience of SOPA 's consumers across SEA .

2

1/5/2023

Partner

Indonesia

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10

11/29/2022

Licensor

United States

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10

11/7/2022

Vendor

Canada

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10

4/21/2022

Vendor

Singapore

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10

Date

8/4/2023

1/5/2023

11/29/2022

11/7/2022

4/21/2022

Type

Partner

Partner

Licensor

Vendor

Vendor

Business Partner

Country

Thailand

Indonesia

United States

Canada

Singapore

News Snippet

Society Pass Announces Payments Partnership with 2C2P to Enhance Online Shopping Experience

Rachelle Alexis Lim , Executive Director of 2C2P , said , `` As we embark on this strategic partnership with Society Pass Incorporated , we look forward to enhancing the payments experience of SOPA 's consumers across SEA .

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Sources

2

10

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