● Thailand-based Thoughtful Media Group acquires first company in Indonesia and extends digital advertising business beyond Thailand and Vietnam
● More Media is a leading Indonesia-based creative design and branding agency catering to clients in the beauty, F&B, e-commerce and logistics industries
● Post acquisition, More Media will be rebranded as Thoughtful Media Indonesia and its management and employees will be fully integrated into Thoughtful Media regional operating structure
● More media creative design and branding capabilities complement Thoughtful Media’s social commerce and influencer advertising focused Multi-Platform Network (“MPN”) and strengthen SoPa’s future loyalty offering
● Thoughtful Media Indonesia forecasts significant revenue growth in 2023 and beyond
Jakarta, Indonesia, Dec. 28, 2022 (GLOBE NEWSWIRE) – via NewMediaWire — The history of 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 announced the acquisition of More media, a leading Indonesia-based creative design and branding agency. The More Media acquisition expands TMG’s social commerce and influencer advertising business across Thailand and Vietnam and into Indonesia’s booming digital advertising sector.
Established in 2021 as an international caliber design and branding agency serving emerging Indonesian companies in the beauty, F&B, e-commerce and logistics sectors, More Media has built its client base through rapid deployment of value added services and understanding of the local market. Taste. With its focus on storytelling and providing end-to-end branding services, More Media has on board a diverse list of clients such as Langsre, Emilia, Kei Dining, and Allino. Post acquisition, More Media will be rebranded as Thoughtful Media Indonesia with its co-founder, Eugenia Agnes Gusti, appointed as VP of Business Development for Thoughtful Media to drive sales and onboard Indonesia clients to the regional TMG digital advertising platform.
Dennis Nguyen, Society Pass Founder, President and Chief Executive Officer/TMG Chairman, exclaims, “We are so excited to welcome Eugenia Agnes Gusti, Ursula Michelle and the rest of More Media to our ever-expanding TMG platform. More Media blends seamlessly into our product and geographic growth strategy for TMG as we have yet entering another leading SEA market. By combining More Media’s market-leading design and branding capabilities in Indonesia with TMG’s social commerce and influencer advertising focused MPN, we leverage our storytelling capabilities and strengthen SoPa’s future loyalty offering. And with this Acquisition TMG now works in Thailand, Vietnam and Indonesia Since SoPa acquired TMG back in July 2022, TMG has grown from strength to strength with the number of people growing from a dozen professionals to over 30 employees in just a few months. As we enter the Singapore, Philippines, and Malaysia markets in 2023, TMG is uniquely positioned to be the premier SEA regional digital wer to be an agency that offers a significant value proposition to advertisers, marketers and influencers in SEA’s largest economy.
Corresponding to Influencer Marketing Hubthe influencer advertising market will grow to US$16.4 billion in 2022 and the value of social commerce sales will grow to US$958 billion in 2022. And according to Strategic market research, with Asia representing 70% of the market, the global social commerce market size is expected to reach US$7 trillion by 2030, representing a CAGR of 30% from 2021. Well positioned to benefit from these growth forecasts, Indonesia digital advertising revenue. expected to increase this decade as more consumers make direct purchases on social media platforms, as social media sites adopt innovative purchase criteria and features, and as retailers incorporate shoppable posts and buy buttons on their respective pages. In addition, socially conscious consumers are influencing the evolution of the entire online retail industry. This trend comes as a result of the shift in inclination of brands from traditional celebrities to online influencers to endorse their products. In fact, influencer marketing is quickly becoming an indispensable part of mainstream branding strategies across organizations of all types.
“More Media is proud to officially merge with TMG. By joining forces with TMG’s broad advertising network and SoPa’s extensive ecosystem and large user and merchant bases in SEA, we are excited to expand our business to an end-to-end digital To become marketing company.According to Grand View Researchthe global influencer marketing platform market size was valued at USD 10.39 billion in 2021 and is now expected to expand at a compound annual growth rate (CAGR) of 33.4% from 2022 to 2030. With this explosion in influencer advertising and social commerce across SEA, Thoughtful Media Indonesia is well positioned to generate significant revenue in 2023 and occupies a central position in Indonesia’s large and fast-growing advertising market, both online and offline,” explained Mrs. Eugenia Agnes Gusti, co-founder, More Media.
About Society Pass Inc.
Founded in 2018 as a next-generation, 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 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, Telecom, Lifestyle, and F&B) that seamlessly serve millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories connected. all over 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 through a robust product and service ecosystem. SoPa integrates these complementary companies 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 widely at the beginning of 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 gathered more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years in building proprietary IT architecture to effectively scale and support its consumers, merchants and acquisitions.
Society Pass uses technology to tailor a more personalized experience for customers in the shopping journey and transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Groupa Thailand-based, a social commerce-focused, premium digital advertising network; 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 grocery delivery company in the Philippines;Handycart.vn, a premier online restaurant delivery service based in Vietnam; in the Mangan.pha leading local restaurant delivery service in the Philippines.
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