Society Pass Inc (Nasdaq: SOPA)/Thoughtful Media Group Inc

Thoughtful Media Group Inc acquires second firm in Indonesia, Newave Strategic, a number one KOL administration company in IndonesiaTMG onboards +10,000 Indonesia-based influencers onto its digital promoting platform with acquisitionPost acquisition, Newave is re-branded as Thoughtful Media Indonesia and its management and staff are totally built-in into Thoughtful Media regional working constructionThoughtful Media Indonesia forecasts continued compelling income development in 2023 and past JAKARTA, Indonesia, May 31, 2023 (GLOBE NEWSWIRE) — by way of NewMediaWire — Thoughtful Media Group Inc (“Thoughtful Media” or “TMG”), the Thailand-based social commerce-focused, premium digital promoting community of Society Pass Incorporated (“SoPa”) (Nasdaq: SOPA), Southeast Asia’s (SEA) subsequent technology, data-driven, loyalty, fintech and e-commerce ecosystem, in the present day proclaims the acquisition of Newave, the go-to promoting platform for nano and micro influencers (KOLs with underneath 100,000 followers) within the Indonesian social media scene. Newave’s +10,000 influencers on its expertise roster turbocharges TMG’s social commerce promoting enterprise in each Indonesia and SEA. Founded in 2017, Newave has ridden the recognition of social media and social commerce in Indonesia promoting market. Newave Head of Strategy, Ilhamka Nizam, explains, “According to Datareportal, 68% of Indonesians or 191 million persons are on social media as of January 2022. Covid drove thousands and thousands of Indonesians to buy on-line for greater than 3 hours each day by way of their social media. Naturally, manufacturers elevated their advertising and marketing budgets yearly since Newave was based. For 2023, we count on Indonesia-based manufacturers to speculate greater than 30% of their advertising and marketing finances on influencer advertising and marketing.” To meet demand for influencers from rising promoting budgets, Newave targeted on figuring out and servicing up-and-coming nano and micro influencers as these KOLs represents 66% of all influencers in Indonesia in line with INSG.CO. Newave Co-Founder, Bunga Nizam, feedback, “When we based Newave, we realised that onboarding tons of and hundreds of nano and micro influencers is the distinctive promoting proposition that units Newave from different so-called influencer advertising and marketing firms. Why? Because it’s simpler to make your viewers have interaction along with your content material if you happen to share a familiarity with them. And how does one share familiarity with the viewers? In essence, nano and micro influencers, comprised of household and buddies and never celebrities, personalise promoting content material. In addition, advertisers can deploy particularly tailor-made advertising and marketing campaigns as usually as they need with a less expensive budgets and optimised outcomes. As a end result, we have now been lucky to onboard greater than 10,000 influencers onto our expertise roster.” Ms. Pamela Aw-Young, TMG Vice-Chairman, exclaims, “TMG is ecstatic to welcome Newave onto our ever-expanding TMG regional platform. By merging Newave’s dominant place within the nano and micro influencer house with TMG’s social commerce targeted ecosystem, we offer extra channels for regional and native manufacturers to market their services and products. Since our guardian firm, SoPa, acquired TMG in July 2022, TMG has grown from energy to energy with headcount rising from a dozen professionals to over 60 employees in just below a yr. We look to triple our revenues year-on-year in 2023. As we enter Philippines, Singapore, and Malaysia markets in 2H 2023, TMG is uniquely positioned to be the premier SEA regional digital promoting company providing a major worth proposition for advertisers, retailers and influencers in SEA’s largest economic system.” Newave Co-Founder, Bulan Nizam, provides, “Newave is proud to develop into an integral a part of TMG and SoPa. TMG’s broad promoting community and SoPa’s in depth person and service provider bases in SEA enable us to completely develop into the premier digital promoting firm on the planet’s fourth most populous nation. Thoughtful Media Indonesia is properly positioned to generate vital revenues in 2023 and occupies a central place in Indonesia’s massive and fast-growing digital promoting market.” About Thoughtful Media Group Inc (TMG) Founded in 2010, Thoughtful Media Group Inc is a number one digital promoting platform in SEA. Through our community of gifted creators throughout a number of industries in Thailand, Vietnam and Indonesia, we assist manufacturers maximise advertising and marketing budgets and obtain enterprise aims by a number of the most revolutionary advertising and marketing campaigns within the area. In 2022, Society Pass Inc (Nasdaq: SOPA), SEA’s subsequent technology, data-driven, loyalty, fintech and e-commerce ecosystem, acquired Thoughtful Media Group. Since then, we have now totally developed right into a digital-first and totally built-in promoting powerhouse. For extra info, please try our web site: www.thoughtfulmedia.com. About Society Pass Inc. Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem within the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for greater than 80% of the SEA inhabitants, and with workplaces positioned in Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding firm working 6 interconnected verticals (loyalty, digital media, journey, telecoms, way of life, and F&B), which seamlessly connects thousands and thousands of registered shoppers and tons of of hundreds of registered retailers/manufacturers throughout a number of product and repair classes all through SEA. Society Pass accomplished an preliminary public providing and started buying and selling on the Nasdaq underneath the ticker SOPA in November 2021. SOPA shares had been added to the Russell 2000 index in December 2021. SoPa acquires quick rising e-commerce firms and expands its person base throughout a strong product and repair ecosystem. SoPa integrates these complementary companies by its signature Society Pass fintech platform and circulation of its common loyalty factors or Society Points, which has entered beta testing and is anticipated to launch broadly in the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and obtain personalised promotions primarily based on SoPa’s knowledge capabilities and understanding of client procuring behaviour. SoPa has amassed greater than 3.3 million registered shoppers and over 650,000 registered retailers and types. It has invested 2+ years constructing proprietary IT structure to successfully scale and help its shoppers, retailers, and acquisitions. Society Pass leverages know-how to tailor a extra personalised expertise for purchasers within the buy journey and to remodel the complete retail worth chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform community; NusaTrip, a number one Indonesia-based Online Travel Agency; VLeisure, Vietnam’s main supplier of lodge administration and fee options; Gorilla Networks, a Singapore-based, web3-enabled cellular blockchain community operator; Leflair.com, Vietnam’s main way of life e-commerce platform; Pushkart.ph, a preferred grocery supply firm in Philippines; and Mangan.ph, a number one native restaurant supply service in Philippines. For extra info on Society Pass, please go to: Website at https://www.thesocietypass.com or LinkedIn at https://www.linkedin.com/firm/societypass or Facebook at https://www.fb.com/thesocietypass or Twitter at https://twitter.com/society_pass or Instagram at https://www.instagram.com/societypass/. Cautionary Note Concerning Forward-Looking Statements This press launch might embody “forward-looking statements,” throughout the which means of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements apart from statements of historic reality included on this press launch are forward-looking statements. When used on this press launch, phrases equivalent to “anticipate”, “imagine”, “estimate”, “count on”, “intend” and comparable expressions, as they relate to us or our administration workforce, determine forward-looking statements. Such forward-looking statements are primarily based on the beliefs of administration, in addition to assumptions made by, and data presently obtainable to, the Company’s administration. Actual outcomes might differ materially from these contemplated by the forward-looking statements on account of sure elements detailed within the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or individuals performing on our behalf are certified of their entirety by this paragraph. Forward-looking statements are topic to quite a few situations, a lot of that are past the management of the Company, together with these set forth within the Risk Factors part of the Company’s registration assertion and prospectus referring to the Company’s preliminary public providing filed with the SEC. The Company undertakes no obligation to replace these statements for revisions or adjustments after the date of this launch, besides as required by regulation. Media Contacts:Rokas SidlauskasChief Marketing [email protected]


https://www.globenewswire.com/news-release/2023/05/31/2679414/0/en/Society-Pass-Inc-Nasdaq-SOPA-Thoughtful-Media-Group-Inc-Acquires-Newave-Strategic-Leading-Indonesia-based-KOL-Management-Agency-Onboards-10-000-Indonesia-based-Influencers.html