Society Pass Incorporated (SoPa), Vietnam-based data driven loyalty and ecommerce ecosystem, announced Monday that it has acquired Singapore-based Gorilla Networks Pte Ltd (Gorilla), a next generation Web3-enabled mobile virtual network operator (MVNO).
SoPa said in a statement that it will incorporate Gorilla Networks’ proprietary blockchain/Web3 technology onto the rest of SoPa ecosystem to drive Southeast Asia (SEA)’s growing demand for a new meta-economy experience.
“We are excited to make our first acquisition in Singapore, and welcome Gorilla into our SoPa family. Gorilla’s technology platform aligns well with our acquisition strategy as we incorporate Gorilla’s blockchain and Web3 capabilities onto the SoPa ecosystem and enable the new meta-economy for all our portfolio companies,
“From our Leflair lifestyle e-commerce platform to our Pushkart/Handycart food and beverage (F&B) delivery services, as we roll out the Society Pass loyalty platform in the coming months, we leverage Gorilla’s technology to drive customer retention for merchants and create innovative revenue models for our ecosystem,” said Dennis Nguyen, Society Pass Founder, Chairman and Chief Executive Officer.
Established in Singapore in 2019, Gorilla utilises Web3 technology to operate a MVNO for its users in Southeast Asia. With network coverage to over 160 countries, Gorilla offers a full suite of mobile communication services such as local calls, international roaming, data, and SMS texting.
More importantly, Gorilla enables its customers to convert unused mobile data into digital assets or Gorilla GO Tokens through its innovative proprietary blockchain-based SwitchBack feature. The tokens in turn can be redeemed for eVouchers, to offset future bills, or be redeemed for other value-added services.
With the rebound of the travel market throughout Southeast Asia in the second quarter/third quarter 2022, Gorilla expects to dramatically increase its customer base by marketing to the region’s business and leisure travellers with its user-friendly technology platform.
It plans to expand its MVNO services offering to Vietnam, Thailand, and Malaysia over the next 12 months.
“When we started Gorilla Networks three years ago, our vision was to build a democratised mobile communications service platform where users regardless of nationality, home location or mobile subscription plans can access essential telecoms services such as roaming and mobile data anywhere and everywhere throughout the world. Gorilla is currently transitioning existing web 2 telco services onto the web3 economy by tokenising mobile data as digital assets,
“In 2021, we digitised eSIMS, data plans, and mobile numbers as NFTs, which dramatically transformed how our users purchase, interact and experience mobile services. By joining forces with SoPa’s extensive ecosystem and large user base in Southeast Asia, we are thrilled about the combined marketing capabilities we will now bring collectively to our partners and customers,” said Xanne Leo, Founder and Chief Executive Officer of Gorilla Networks.
According to the statement, SoPa leverages cutting edge technology to tailor an unprecedented experience for the next generation customers in the purchase journey and to transform the entire retail value chain in Southeast Asia.
Through the acquisitions of market-leading companies and partnerships with visionary entrepreneurs in six distinct business business to consumer (B2C) e-commerce verticals: lifestyle, F&B delivery, travel, digital marketing, telecoms and food and beverage ordering, the company meets SEA’s growing demand for a new meta-economy experience.
As a loyalty and data marketing ecosystem, SoPa 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 SoPa 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 information technology IT architecture with cutting edge components to effectively scale and support its consumers, merchants, and acquisitions.
SoPa 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, it operates Leflair.com, Vietnam’s lifestyle e-commerce platform, Pushkart.ph, a grocery delivery company in Philippines, and Handycart.vn, an online restaurant delivery service based in Hanoi, Vietnam.