Partnership accelerates consumer journey, connected experiences and loyalty benefits through the SoPa ecosystem
- Society Pass Inc/Thoughtful Media Group Inc and Onlive.Site announce the formation of a strategic partnership combining Society Pass Inc.’s industry-leading data-driven loyalty platform with Onlive.Site’s interactive live commerce technology tools
- Onlive.Site powers the Thoughtful Media Group/Creator/Marketer platforms and websites through its white labeling live shopping and streaming services
SINGAPORE, Oct. 5, 2022 (GLOBE NEWSWIRE) – via NewMediaWire – Thoughtful media group inc (“Thoughtful Media” or “TMG”), the Thailand-based digital advertising arm of Society Pass Incorporated (Nasdaq: SOPA) (“SoPa” or the “Company”), Southeast Asia’s (“SEA”) leading data-driven loyalty and e-commerce ecosystem, today announces the formation of a strategic partnership with Online.Site, a premium live streaming and digital content channel platform based in Spain. This strategic partnership allows TMG to host interactive live streaming and live shopping shows on its websites and even on external platforms, including creators’ or marketers’ landing pages. SoPa strives to bring value to its consumers through novel partnerships with tech-enabled companies in the SEA countries of Vietnam, Indonesia, the Philippines, Singapore and Thailand, as well as complementary services that support the offerings of its entire ecosystem.
Founded in 2020, Onlive.Site is a technology software company that develops platform tools for live streaming, live video shopping, interactive videos and online TV channels for global e-commerce companies. Onlive.Site’s technology tools enable partners to create and curate live streaming and live shopping shows so consumers can purchase e-commerce goods and services with specific placement and impact. Accenture research shows that the social commerce market is poised to continue growing $1.2 trillion by 2025, which corresponds to a CAGR of 26%. Live streaming as a sales medium on social commerce platforms is expected to register a CAGR of 11.77%, resulting in a projected market size of $45.07 billion until 2027.
TMG’s digital advertising platform amplifies the reach and engagement of their +200 influencer network across the SEA to market and sell advertising inventory on behalf of international and regional brands. The partnership with Onlive.Site also supports SoPa’s plans to expand TMG’s database of KOLs and influencers in SEA. The growing influence of social media on consumer purchasing decisions is prompting more brands to shift their advertising focus to this emerging marketing opportunity area. “live trading‘ is born when live streaming and e-commerce converge, so consumers and brands experience real-time engagement and an instant feedback loop. SoPa increases customer retention while focusing on the quality of relationships through a campaign-based approach made possible by this latest partnership.
Alfredo Ouro, Co-Founder and CEO @ Onlive.Site, emphatically states: “We are excited to enter into this win-win partnership with SOPA and TMG to bring our state-of-the-art live commerce technology to one of the fastest growing digital realms in the world. With its large base of users, affiliated brands and content creators in SEA, TMG is ideally positioned as the perfect partner for Onlive.Site in a region that combines everything that is required for successful live shopping: ubiquitous shopping culture, internet technology , savvy population and favorable socio-demographic profile.”
Dennis Nguyen, TMG Chairman, comments: “We are very excited to partner with Onlive.Site as we forge meaningful partnerships with brands and e-stores in Vietnam, Indonesia, the Philippines, Singapore and Thailand. This partnership allows TMG to bundle Onlive.Site’s subscription model with influencer marketing services to quickly target brands and create live streaming sales campaigns. With this innovative partnership, new revenue models are being developed. Our mission is to provide media owners with dedicated technology services that build and monetize their brands’ audiences on social video platforms.”
Alfredo Ouro adds: “With video accounting for more than 80% of all internet traffic consumed this year, no single company should ignore this audiovisual format as the most engaging and effective way of selling and communicating with its customers and stakeholders through live shopping and video – Shoppable and exclusive branded video channels. The possibilities of our one-stop live commerce studio to integrate any form of interactive video on any website or digital platform are now endless and we want to make them available to every brand in SEA thanks to our partnership with TMG and SOPA.”
About Thoughtful Media Group Inc
TMG was founded in 2010 and acquired by SoPa as a wholly owned subsidiary in 2022. TMG is a social commerce focused premium digital video multi-platform network (“MPN”)/social media influencer advertising platform based in Bangkok serving the SEA countries of Vietnam, Indonesia, Philippines, Singapore and Thailand.
About Society Pass Inc
Founded in 2018 as a digitally focused loyalty and data marketing ecosystem in the fast-growing markets of Vietnam, Indonesia, the Philippines, Singapore and Thailand, which represent more than 80% of the SEA population, and with offices in Angeles, Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Manila and Singapore, SoPa is an acquisition-driven e-commerce holding company operating 6 interconnected verticals (Loyalty, Digital Media, Travel, Telecom, Lifestyle and F&B) seamlessly connecting millions of registered Consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories across SEA.
Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were included in the Russell 2000 Index in December 2021.
SoPa acquires fast-growing e-commerce companies and expands its user base through a robust product and service ecosystem. SoPa is integrating these complementary businesses through its Society Pass loyalty platform and the proliferation of its universal loyalty points, or Society Points, which have entered beta testing and are expected to be widely rolled out in early 2023. Society Pass loyalty program members earn and redeem Society points and receive personalized promotions based on SoPa’s data capabilities and understanding of consumer shopping behavior. SoPa has more than 3.3 million registered consumers and over 205,000 registered retailers and brands. It has invested more than 2 years in building a proprietary IT architecture to effectively scale and support its consumers, merchants and acquisitions.
Society Pass uses technology to create a more personalized experience for customers throughout the checkout process, transforming the entire retail value chain into SEA. Sopa works Thoughtful media groupa Thailand-based, multi-platform, premium digital video network focused on social commerce; NusaTripa leading Indonesia-based online travel agency; Gorilla Networksa Singapore-based, Web3-enabled mobile blockchain network operator; Leflair.comVietnam’s leading lifestyle e-commerce platform; Pushkart.pha popular food delivery company in the Philippines; Handycart.vn, a leading online restaurant delivery service based in Vietnam; and manganesea leading delivery service for local restaurants in the Philippines.
For more information, see: http://thesocietypass.com/.
Headquartered in Barcelona, ONLIVE.SITE is the fastest growing SAAS for live commerce and video sales enablement in Europe and LATAM. In less than a year since launch, Onlive.Site is already working with over 150 brands of all sizes, operating in 25 countries, and providing live commerce to customers from 95 countries worldwide. Thanks to this partnership with SOPA, Onlive.Site expands its presence into Southeast Asia, which Insider Intelligence ranks as two of the three fastest growing e-commerce markets in the world along with LATAM.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning 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 in this press release, other than statements of historical fact, are forward-looking statements. As used in this press release, words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions identify forward-looking statements when they relate to us or our management team. Such forward-looking statements are based on management’s beliefs, assumptions and information currently available to the Company’s management. Actual results could differ materially from those projected in the forward-looking statements as a result of certain factors detailed in the Company’s SEC filings. All of the following forward-looking statements, whether written or oral, attributable to us or persons acting on our behalf are included within this paragraph in their entirety. Forward-looking statements are subject to numerous conditions, many of which are beyond the Company’s control, including those set forth in the “Risk Factors” section of the Company’s registration statement and prospectus relating to the Company’s SEC filing. The company assumes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
PREcious Communications for SoPa