Maxim Group: Society Pass (Nasdaq: SOPA) - Despite Challenging Global Macro Environment, Reiterates Positive Outlook on SOPA Based on Strong Revenue Generation and Compelling Valuation
During 3Q22 the company acquired Thoughtful Media, a digital influencer, Mangan.ph, restaurant delivery, and NusaTrip, an online travel agency.
- During 3Q22 the company acquired Thoughtful Media, a digital influencer, Mangan.ph, restaurant delivery, and NusaTrip, an online travel agency.
- Maxim believes Thoughtful Media can market SoPa's other brands and the food delivery and luxury brand businesses can be expanded geographically.
- - SOPA trades at an EV/revenue multiple of 0.5x Maxim 2023 revenue estimate with over half of its market cap in cash.
- Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021.