Argus Research

Argus Research: Society Pass - Building a Loyalty-Driven E-Commerce Platform in Southeast Asia

Society Pass Inc. ("SoPa"), founded in 2018 and based in Singapore, operates e-commerce platforms in Southeast Asia ("SEA"). SoPa focuses on the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore, and Thailand, which together account for more than 80% of the Southeast Asian population. SoPa's vertical markets include Lifestyle, Grocery and Food Delivery, Mobile Telecommunications, Loyalty, Travel, and Digital Media. 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.