DGAP-News: Society Pass Incorporated
Singapore, 20 July 2022 – Society Pass Incorporated (“SoPa” or “Society Pass”) (NASDAQ: SOPA), Southeast Asia’s leading data-driven loyalty platform, today announces the acquisition of Mangan.ph (“Mangan”), the leading local restaurant delivery service in Philippines. Founded in 2017, Mangan delivers restaurant food from over 1,200 partner restaurants through its over 200 rider network to its over 500,000 registered users. Thus far, Mangan has generated more than 100,000 mobile app downloads and accumulated over 80,000 social media followers.
Operating in Pampanga, the culinary capital of Philippines, Mangan’s geographic reach extends to 16 other cities including Angeles City, San Fernando, Clark, Dau, Mabalacat, Guagua, Lubao, Tarlac, Bataan, Magalang, Pasig, Cabanatuan, Baguio, Lipa Batangas, Antipolo City, Dagupan City. The newly acquired business will be integrated into SoPa’s F&B vertical, Push Delivery Pte Ltd, along with Pushkart and #HOTTAB.
Despite the recent re-opening of the economy and the easing of multiple restrictions, online home food ordering remains the new normal in Philippines, similar to trends in other parts of the world. The convenience of ordering-in coupled with the work-from-home set-up and continued preference to avoid crowds encourage patrons to order as often as they did during the past two years.
Society Pass Philippines Country Manager, Arbie Pagdangan explains, “We enthusiastically welcome Mangan into SoPa’s growing loyalty and data ecosystem. We combine the robust technology and operational efficiency of Mangan with our own brand building expertise. Combined with Pushkart, which delivers grocery food to consumers in Metro Manila, and Mangan’s operating focus in the provinces, SoPa is creating a food delivery behemoth to serve the 115 million people of Philippines. SoPa aims to double the number of registered users to over 800,000 and drive app downloads to over 200,000 by the end of 2023. We look forward to building out our next generation loyalty platform as well as opportunistically acquire market leading companies in F&B, lifestyle, digital advertising and travel verticals in Philippines for the rest of 2022.”
Ralph Rile, Co-Founder and Chief Executive Officer of Mangan asserts, “When we started Mangan five years ago, our vision was to deliver delicious dishes from Pampanga's wide array of cafes and restaurants right to our customer’s doorsteps in a hassle-free way. We have witnessed tremendous success in our initial goals, and now, aim to expand Mangan beyond Luzon Island to other regions in Philippines. This is why joining forces with SoPa is our logical next step, and we are excited about the combined capabilities we will now bring to Mangan’s partners and customers.”
Louie Alcantara Co-Founder and Chief Technology Officer of Mangan expounds, “In a short span of time, with our easy-to-use technology interface, Mangan has established a reputation of being the top online local food delivery service, achieving over US$2 million in gross merchandise value yearly. Leveraging SoPa’s marketing platform and capital, we aim to increase GMV multiple fold by the end of 2022.”
About Society Pass
As a loyalty and data marketing ecosystem in Singapore, Vietnam, Philippines, and Thailand and with offices located in Singapore, Hanoi, Ho Chi Minh City, Manila, Angeles and Bangkok, SoPa is an acquisition-focused e-commerce holding company operating 7 interconnected verticals (loyalty, merchant software, lifestyle, F&B, telecoms, digital media, and travel), which seamlessly connects millions of consumers and thousands of merchants across multiple product and service categories throughout SEA.
SoPa’s business model focuses on analysing user data through its Society Pass loyalty platform and circulation of its universal loyalty points or Society Points. The Society Pass loyalty platform drives customer acquisition and retention for merchants. Since its inception, SoPa has amassed over 2.1 million registered consumers and over 6,700 registered merchants/brands on its platform. It has invested 2+ years building proprietary IT architecture with cutting edge components 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 Southeast Asia. SoPa operates #HOTTAB Biz and #HOTTAB POS – a Vietnam-based POS, CRM and analytics technology solutions provider for small and medium-sized enterprises, Leflair.com, Vietnam’s leading lifestyle e-commerce platform, Pushkart.ph, a popular grocery delivery company in Philippines, Handycart.vn, a leading online restaurant delivery service based in Vietnam, Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator, and Thoughtful Media Group, a Bangkok-based, a social commerce-focused, premium digital video multi-platform network.
For more information, please check out: http://thesocietypass.com/.
As a loyalty and data marketing ecosystem, Society Pass operates multiple e-commerce platforms across its key markets in SEA. Its business model focuses on analysing user data through the expected launch of its Society Pass loyalty platform and circulation of its universal loyalty points, which seamlessly connects consumers and merchants across multiple product and service categories to foster organic loyalty. Since its inception, SoPa has amassed over 1.6 million registered consumers and over 5,500 registered merchants/brands on its platform. It has invested 2+ years building proprietary IT architecture with cutting edge components to effectively scale and support its consumers, merchants, and acquisitions.Society Pass provides merchants with #HOTTAB Biz and #HOTTAB POS – a specialized POS technology solution, a comprehensive system for payment, loyal customer management, user profile analytics, and convenient financial support packages for small and medium-sized enterprises.In addition, SoPa operates Leflair.com , Vietnam’s leading lifestyle e-commerce platform, Pushkart.ph , a popular grocery delivery company in Philippines, Handycart.vn , a leading online restaurant delivery service based in Hanoi, Vietnam, and Gorilla Networks , a Singapore-based, blockchain/web3-enabled mobile virtual network operator.For more information, please check out: http://thesocietypass.com/ .Contact Details
News Source: News Direct
20.07.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||Society Pass Incorporated|
|EQS News ID:||1402203|
|End of News||DGAP News Service|