via NewMediaWire --
Thoughtful Media Group Inc
(“Thoughtful Media” or “TMG”), the Thailand-based social
commerce-focused, premium digital advertising network of
Society Pass Incorporated ("SoPa”)
(
Nasdaq: SOPA), Southeast Asia’s (SEA) next
generation, data-driven, loyalty, fintech and e-commerce ecosystem,
today announces the acquisition of
Newave, the
go-to advertising platform for nano and micro influencers (KOLs
with under 100,000 followers) in the Indonesian social media scene.
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. Naturally, brands increased their marketing budgets
every year since Newave was founded. For 2023, we expect
Indonesia-based brands to invest more than 30% of their marketing
budget on influencer marketing.”
To meet demand for influencers from increasing advertising
budgets, Newave focused on identifying and servicing up-and-coming
nano and micro influencers as these KOLs represents 66% of all
influencers in Indonesia according to INSG.CO. Newave
Co-Founder, Bunga Nizam, comments, “When we founded
Newave, we realised that onboarding hundreds and thousands of nano
and micro influencers is the unique selling proposition that sets
Newave from other so-called influencer marketing companies. Why?
Because it is easier to make your audience engage with your content
if you share a familiarity with them. And how does one share
familiarity with the audience? In essence, nano and micro
influencers, comprised of family and friends and not celebrities,
personalise advertising content. In addition, advertisers can
deploy specifically tailored marketing campaigns as often as they
want with a cheaper budgets and optimised results. As a result, we
have been fortunate to onboard more than 10,000 influencers onto
our talent 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
position in the nano and micro influencer space with TMG’s social
commerce focused ecosystem, we provide additional channels for
regional and local brands to market their products and services.
Since our parent company, SoPa, acquired TMG in July 2022, TMG has
grown from strength to strength with headcount growing from a dozen
professionals to over 60 staff in just under a year. 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 advertising
agency offering a significant value proposition for advertisers,
merchants and influencers in SEA’s biggest economy.”
Newave Co-Founder, Bulan Nizam, adds, “Newave
is proud to become an integral part of TMG and SoPa. TMG’s broad
advertising network and SoPa’s extensive user and merchant bases in
SEA allow us to fully become the premier digital advertising
company in the world’s fourth most populous country. Thoughtful
Media Indonesia is well positioned to generate significant revenues
in 2023 and occupies a central position in Indonesia’s large and
fast-growing digital advertising market.”
About Thoughtful Media Group Inc (TMG)
Founded in 2010, Thoughtful Media Group Inc is a leading digital
advertising platform in SEA. Through our network of talented
creators across multiple industries in Thailand, Vietnam and
Indonesia, we help brands maximise marketing budgets and achieve
business objectives through some of the most innovative marketing
campaigns in the region.
In 2022, Society Pass Inc (Nasdaq: SOPA), SEA’s next generation,
data-driven, loyalty, fintech and e-commerce ecosystem, acquired
Thoughtful Media Group. Since then, we have fully evolved into a
digital-first and fully integrated advertising powerhouse.
For more information, please check out our website:
www.thoughtfulmedia.com.
About Society Pass Inc.
Founded in 2018 as a data-driven loyalty, fintech and e-commerce
ecosystem in the fast-growing markets of Vietnam, Indonesia,
Philippines, Singapore and Thailand, which account for more than
80% of the SEA population, and with offices located in Angeles,
Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore,
Society Pass Incorporated (Nasdaq:
SOPA) is an acquisition-focused holding company operating
6 interconnected verticals (loyalty, digital media, travel,
telecoms, lifestyle, and F&B), which seamlessly connects
millions of registered consumers and hundreds of thousands of
registered merchants/brands across multiple product and service
categories throughout SEA.
Society Pass completed an initial public offering and began
trading on the Nasdaq under the ticker SOPA in November 2021. SOPA
shares were added to the Russell 2000 index in December 2021.
SoPa acquires fast growing e-commerce companies and expands its
user base across a robust product and service ecosystem. SoPa
integrates these complementary businesses through its signature
Society Pass fintech platform and circulation of its universal
loyalty points or Society Points, which has entered beta testing
and is expected to launch broadly at the beginning of 2023. Society
Pass loyalty program members earn and redeem Society Points and
receive personalised promotions based on SoPa’s data capabilities
and understanding of consumer shopping behaviour. SoPa has amassed
more than 3.3 million registered consumers and over 650,000
registered merchants and brands. It has invested 2+ years building
proprietary IT architecture 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 SEA. SoPa operates Thoughtful
Media Group, a Thailand-based, a social commerce-focused, premium
digital video multi-platform network; NusaTrip, a leading
Indonesia-based Online Travel Agency; VLeisure, Vietnam’s leading
provider of hotel management and payment solutions; Gorilla
Networks, a Singapore-based, web3-enabled mobile blockchain network
operator; Leflair.com, Vietnam’s leading lifestyle e-commerce
platform; Pushkart.ph, a popular grocery delivery company in
Philippines; and Mangan.ph, a leading local restaurant delivery
service in Philippines.
For more information on Society Pass, please visit:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.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 release may include “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 other than statements of historical fact
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used in this press release, words such as “anticipate”, “believe”,
“estimate”, “expect”, “intend” and similar expressions, as they
relate to us or our management team, identify forward-looking
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beliefs of management, as well as assumptions made by, and
information currently available to, the Company’s management.
Actual results could differ materially from those contemplated by
the forward-looking statements as a result of certain factors
detailed in the Company’s filings with the SEC. All subsequent
written or oral forward-looking statements attributable to us or
persons acting on our behalf are qualified in their entirety by
this paragraph. Forward-looking statements are subject to numerous
conditions, many of which are beyond the control of the Company,
including those set forth in the Risk Factors section of the
Company’s registration statement and prospectus relating to the
Company’s initial public offering filed with the SEC. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
Media Contacts:Rokas SidlauskasChief
Marketing Officerrokas@thesocietypass.com
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