Society Pass Inc. Bolstering Subsidiaries Ahead of IPOs to Drive Growth and Customer Engagement
SINGAPORE, June 20, 2024 (GLOBE NEWSWIRE) -- Society Pass Inc. (NASDAQ: SOPA), Southeast Asia’s premier data-driven loyalty, fintech, and e-commerce ecosystem, is gearing up for the upcoming IPOs of its key subsidiaries, NusaTrip.com and Thoughtful Media Group. NusaTrip.com, a leading travel platform in Indonesia, and Bangkok’s innovative advertising agency, Thoughtful Media Group, are set to undergo significant enhancements to increase customer engagement, expand market reach, and deliver unparalleled solutions to users and brands across Southeast Asia.
NusaTrip.com, a leading travel booking platform in Indonesia, announced a technical re-platforming of its platform, centered around improving platform stability via upgrades to its server infrastructure, improved UI/UX interface as well as integration with leading payment gateway providers in Southeast Asia, thus increasing its potential market size by up to 800%. Linguistic localization of the NusaTrip platform will be available to over 700 million users in Southeast Asia. These changes aim to position NusaTrip.com to become a leading travel booking platform by market share in Southeast Asia by 2026.
Thoughtful Media Group aims to launch its own technical products to complement its business verticals focusing on Multi-Channel-Network and Influencer marketing growth across key Southeast Asian markets. In-house and proprietary tech solutions will enable Thoughtful Media Group to offer leading world class solutions to customers and brands enabling their campaigns to launch and to reach the right target market for most optimal results. TMG’s influencer platform will enable brands to quickly and efficiently identify, connect and work with leading Key Opinion Leaders in the region.
Raynauld Liang, CEO of Society Pass, commented on the announced changes by stating: “We are looking forward to implementing these announced changes as soon as possible to position ourselves to be the preferred go-to solutions for any person, brand of business that might have travel or marketing needs across key markets in Southeast Asia.”
Mr. Liang further elaborated on Society Pass’ immediate plans for the future by stating, “As always, we strive to implement changes that will have a significant and positive impact to our business operations, clients as well as shareholders.”
About Society Pass Inc.:
Established in 2018, Society Pass Inc. operates as a data-driven e-commerce ecosystem across Vietnam, Indonesia, Philippines, Singapore, and Thailand. With strategic offices across SEA, the company operates in interconnected verticals—loyalty, digital media, travel, telecommunications and lifestyle,—serving consumers and merchants/brands in Southeast Asia. Society Pass Incorporated (Nasdaq: SOPA) is committed to driving innovation and reshaping the digital commerce landscape in the region.
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Cautionary Note Concerning Forward-Looking Statements:
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When Society Pass Inc. (the “Company”) uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; the outcome of any legal proceedings that may be instituted against us following the consummation of the business combination; expectations regarding our strategies and future financial performance, including its future business plans or objectives, prospective performance and opportunities and competitors, revenues, products, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures, and our ability to invest in growth initiatives and pursue acquisition opportunities; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in Hong Kong and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission (the “SEC”), the length and severity of the recent coronavirus outbreak, including its impacts across our business and operations. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof.
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