Sopa

Society Pass Inc (Nasdaq: SOPA)/Thoughtful Media Group Inc Acquires Newave Strategic, leading Indonesia-based KOL Management Agency; Onboards +10,000 Indonesia-based Influencers

Retrieved on: 
Wednesday, May 31, 2023

Newave's +10,000 influencers on its talent roster turbocharges TMG's social commerce advertising business in both Indonesia and SEA.

Key Points: 
  • Newave's +10,000 influencers on its talent roster turbocharges TMG's social commerce advertising business in both Indonesia and SEA.
  • Founded in 2017, Newave has ridden the popularity of social media and social commerce in Indonesia advertising market.
  • Newave Head of Strategy, Ilhamka Nizam, explains, "According to Datareportal, 68% of Indonesians or 191 million people are on social media as of January 2022.
  • Covid drove millions of Indonesians to shop online for more than 3 hours daily via their social media.

Society Pass Inc’s (Nasdaq: SOPA) 2Q/1H 2023 Financial Results Illustrate Continuing Breakneck Revenue Growth and Exceptional Profit Margin Expansion; Confidently Forecasts Achieving Cash Profitability in 2H 2023

Retrieved on: 
Thursday, August 10, 2023

NEW YORK, NY, Aug. 10, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Society Pass Incorporated (Nasdaq: SOPA) (“SoPa”), Southeast Asia (SEA)’s next generation, data-driven, loyalty, fintech and e-commerce ecosystem, today announces unaudited financial results for second quarter ended 30 June 2023 and a filing of its 2Q 2023 Form 10-Q with the Securities and Exchange Commission (SEC).

Key Points: 
  • • While 1H 2023 revenues grew 348.0% year on year, 1H 2023 cash operating expenses declined 28.0% year on year (from $7,864,068 in 1H 2022 to $5,663,264 in 1H 2023).
  • • While 2Q 2023 revenues grew 338.3% year on year, 2Q 2023 cash operating expenses declined 51.9% year on year (from $4,891,352 in 2Q 2022 to $2,350,345 in 2Q 2023).
  • • While 2Q 2023 revenues grew 7.1% quarter on quarter, 2Q 2023 cash operating expenses declined 29.1% quarter on quarter (from $3,312,918 in 1Q 2023 to $2,350,345 in 2Q 2023).
  • With the continuing performance in our three big verticals, we confidently project attaining cash profitability sometime in 2H 2023.”

AICPA and NASBA to Launch Learning Program Designed to Ease Path to CPA Licensure

Retrieved on: 
Monday, August 7, 2023

NEW YORK, Aug. 7, 2023 /PRNewswire/ -- The American Institute of CPAs (AICPA) and National Association of State Boards of Accountancy (NASBA) will launch an innovative post-graduate program this fall in collaboration with the Tulane School of Professional Advancement (SoPA). The program blends rigorous online learning with on-the-job professional experience for college accounting graduates, offering a less costly and more flexible way to complete the 150-hour course credit requirement to become a licensed CPA.

Key Points: 
  • "CPAs perform respected, rewarding work and their lifetime earning potential is substantial," said Susan Coffey, CPA, CGMA, AICPA's CEO of public accounting.
  • "The ELE program reinforces the rigor we want reflected in CPA licensure with the needed flexibility and support for today's accounting graduates."
  • ELE is part of a package of initiatives the AICPA is pursuing as part of a national strategy to address CPA pipeline issues.
  • It's also an important project for NASBA in support of state boards and the licensure of new CPAs.

Society Pass Inc (Nasdaq: SOPA) Announces Payments Partnership with 2C2P to Enhance the Online Shopping Experience in Southeast Asia

Retrieved on: 
Friday, August 4, 2023

Through this partnership, Society Pass’s loyalty application would be able to offer 2C2P’s wide array of alternative payment options to customers based in the Philippines and Indonesia.

Key Points: 
  • Through this partnership, Society Pass’s loyalty application would be able to offer 2C2P’s wide array of alternative payment options to customers based in the Philippines and Indonesia.
  • 2C2P operates payment services in eight markets across Asia and supports over 250 payment options, from cards to cash to e-wallets.
  • Over the years, 2C2P has established and nurtured an extensive network of partners globally, adhering to local and international regulatory compliance standards.
  • 2C2P’s customers can use their preferred payment method via cards, digital wallets, or over-the-counter at over 400,000 locations in Asia.

Society Pass Inc’s (Nasdaq: SOPA) Travel Subsidiary, NusaTrip Inc, Acquires IATA-licensed Vietnam International Travel and Service JSC; Acquisition Adds Approximately US$2 million in GMV to NusaTrip Revenue Base

Retrieved on: 
Thursday, July 20, 2023

JAKARTA, Indonesia, July 20, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – NusaTrip Inc (“NusaTrip”), the online retail arm of Society Pass Incorporated ("SoPa”) (Nasdaq: SOPA), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem, today announces that it has acquired Vietnam International Travel and Service JSC (“VIT”), an IATA-licensed, full-service travel agency focused on marketing to the Vietnam inbound and outbound segments.

Key Points: 
  • NusaTrip previously acquired VLeisure , Vietnam’s leading provider of hotel management and payment solutions, in April 2023.
  • Patrick Soetanto, NusaTrip CEO, comments on the acquisition, “VIT is the first IATA-licensed travel acquisition we have made outside of Indonesia.
  • We are growing NusaTrip at the opportune time.”
    Founded in Vietnam since 2016, VIT operates inbound and outbound ticketing businesses targeted at corporate and travel tour segments.
  • I am proud to sell VIT to NusaTrip as I know NusaTrip will greatly expand VIT's business here in Vietnam.

Society Pass (Nasdaq: SOPA) to Formally Introduce Society Pass Loyalty App at Launch Party in Singapore on Wednesday, 28 June 2023

Retrieved on: 
Thursday, June 22, 2023

SINGAPORE, June 22, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- Society Pass Incorporated ("SoPa”) (Nasdaq: SOPA), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem, today announces that it will formally introduce its universal loyalty application, Society Pass Loyalty Wallet, at a launch party to be held at Clifford Pier, 80 Collyer Quay, Singapore 049326 at 6 pm on Wednesday, 28 June 2023.

Key Points: 
  • SINGAPORE, June 22, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- Society Pass Incorporated ("SoPa”) (Nasdaq: SOPA), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem, today announces that it will formally introduce its universal loyalty application, Society Pass Loyalty Wallet, at a launch party to be held at Clifford Pier, 80 Collyer Quay, Singapore 049326 at 6 pm on Wednesday, 28 June 2023.
  • In particular, guests will witness SoPa Loyalty App seamless integration with Nusatrip.com, Indonesia’s oldest online travel agency, and Gorilla.Global, Society Pass’ travel telecoms company.
  • SoPa Loyalty Wallet allows users to pay for goods and services by scanning QR Codes and making payments via credit card, debit card, or Society Points.
  • SoPa Loyalty App offers a wide range of options: gamification, badges, tiers, birthday surprises, and early access privileges.

Society Pass Inc (Nasdaq: SOPA)/Gorilla Global Releases Its Next Generation Mobile Telecoms App Targeted at Travelers in Southeast Asia

Retrieved on: 
Monday, June 19, 2023

With a virtual mobile number, Gorilla’s users access cost-effective data plans to enjoy a reliable internet connection worldwide.

Key Points: 
  • With a virtual mobile number, Gorilla’s users access cost-effective data plans to enjoy a reliable internet connection worldwide.
  • And through its tiered data plans, Gorilla’s customers enjoy global mobile internet and have full control over their data spending.
  • Asia Pacific currently has over 100 million business travelers, representing more than 30% of the world’s market.
  • Features include:
    2) Gorilla Global Mobile App allows users to:
    Purchase, transfer and send data plans and mobile credit to business associates, family and friends
    3) Gorilla SwitchBack’s features are the following:

Society Pass Inc (Nasdaq: SOPA)/Thoughtful Media Group Inc Acquires Newave Strategic, Leading Indonesia-based KOL Management Agency; Onboards +10,000 Indonesia-based Influencers

Retrieved on: 
Wednesday, May 31, 2023

Newave’s +10,000 influencers on its talent roster turbocharges TMG’s social commerce advertising business in both Indonesia and SEA.

Key Points: 
  • Newave’s +10,000 influencers on its talent roster turbocharges TMG’s social commerce advertising business in both Indonesia and SEA.
  • Founded in 2017, Newave has ridden the popularity of social media and social commerce in Indonesia advertising market.
  • Newave Head of Strategy, Ilhamka Nizam, explains, “According to Datareportal , 68% of Indonesians or 191 million people are on social media as of January 2022.
  • Covid drove millions of Indonesians to shop online for more than 3 hours daily via their social media.

Maxim Research Update: Society Pass (Nasdaq: SOPA) – Compelling Valuation; 1Q23 EBITDA Beats Forecast

Retrieved on: 
Tuesday, May 16, 2023

NEW YORK, NY, May 16, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Maxim Group LLC (“Maxim”) issues research report on Society Pass Inc. (Nasdaq: SOPA) (“SoPa”), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem.

Key Points: 
  • Click Here (on Maxim research website) or Here (on Society Pass website) to view the full Maxim research report.
  • • Maxim maintains 2023 and 2024 revenue and EBITDA estimates – SOPA reports improving topline and narrowing losses going forward.
  • • Revenues growing much faster than cash expenses – 1Q23 revenues of $2.0M increased significantly from $0.4M in the prior year quarter.
  • 1Q23 adjusted EBITDA loss of ($2.7M) was slightly narrower than our estimate of ($2.8M) and improved from a loss of ($3.4M) in the prior year quarter.

Society Pass Inc (Nasdaq: SOPA) Reports Outsized Revenue Growth and Margin Expansion for 1Q 2023 Financial Results

Retrieved on: 
Thursday, May 11, 2023

NEW YORK, NY, May 11, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Society Pass Inc. (Nasdaq: SOPA) (“SoPa”), Southeast Asia (SEA)’s next generation, data-driven, loyalty, fintech and e-commerce ecosystem, today announces unaudited financial results for first quarter ended 31 March 2023 and a filing of its 1Q 2023 Form 10-Q with the Securities and Exchange Commission (SEC).

Key Points: 
  • • 1Q 2023 digital advertising revenues totaled $1,283,774, up from $0 in 1Q 2022.
  • • 1Q 2023 travel platform revenues totaled $486,707, up from $0 in 1Q 2022.
  • Raynauld Liang, Society Pass Inc. Chief Financial Officer, explains, “Our outsized first quarter 2023 financial performance validates our acquisitions-focused business plan here in SEA.
  • For 1Q 2023, we achieved year-on-year revenue growth of 358%, whilst recognising year-on-year cash operating expenses increase of only 20%.