Noosa Tours (“NusaTrip”), the online retail division social pass company (“SOPA”)(Nasdaq: SOPA), the next-generation data-driven, loyalty, fintech and e-commerce ecosystem in Southeast Asia (SEA), announced today that it has acquired Vietnam International Travel Service Joint Stock Company (“VIT”) is an IATA licensed full-service travel agency focused on Vietnam inbound and outbound marketing.
NusaTrip was previously acquired Leisure timeVietnam’s leading provider of hotel management and payment solutions, April 2023. Patrick Soetanto, CEO of NusaTrip, commented on the acquisition: “VIT is our first IATA-licensed travel acquisition outside of Indonesia. Our business plan calls for the acquisition of other IATA-licensed travel agencies throughout the Asia-Pacific region in 2023, including Philippines, Thailand, Singapore, Malaysia, Hong Kong, China, India and UAE as we position NusaTrip as the premier travel hub in Southeast Asia. According to Focus WrightBy 2025, total bookings in Southeast Asia will reach 94% of the record level set in 2019, and digital transformation across Southeast Asia will accelerate rapidly, with online bookings more than doubling between 2022 and 2025. In fact, the region has returned to pre-pandemic levels. We are developing NusaTrip in due course. “
Established in Vietnam in 2016, VIT operates inbound and outbound ticketing business for corporate and tourism market segments. Nguyen Ngoc Minh, Founder and Managing Director of VIT, explained his rationale for the sale to NusaTrip, “SoPa and NusaTrip are well-known leaders in e-commerce and travel in Southeast Asia and Vietnam. I am proud to sell VIT to NusaTrip because I know NusaTrip will greatly expand VIT’s business in Vietnam. I wish SoPa and NusaTrip all the best for the future.”
Le Phan, Managing Director of NusaTrip and Founder of VLeisure added: “I am particularly excited about this acquisition as it will only add to the breadth and depth of NusaTrip and VLeisure’s offerings in Vietnam. politician Vietnam’s tourism market is expected to reach US$3 billion by 2023. The total market size is expected to reach USD 4.2 billion by 2027, growing at an annual rate of 8.8%. We intend to leverage VIT’s strong presence in Vietnam’s corporate and tourism markets to drive strong revenue growth for NusaTrip in 2023. “
Vietnam’s economy ranks 5th in Southeast Asia and 34th in the world, with a nominal GDP of US$449 billion in 2023.this world bank Vietnam’s economy is expected to expand by 6.3% in 2023 and 6.4% in 2024, after a strong 8% growth in 2022.
About Society Pass Inc.Founded in 2018, it is a data-driven loyalty, fintech and e-commerce ecosystem located in fast-growing markets such as Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the population in Southeast Asia, with offices in Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila and Singapore, social pass company (Nasdaq: SOPA) is an acquisition-focused holding company operating in 6 interrelated verticals (Loyalty, Digital Media, Travel, Telecommunications, Lifestyle and Dining), seamlessly connecting millions of registered consumers across multiple product and service categories and hundreds of thousands of registered merchants/brands throughout Southeast Asia.
Society Pass completed its initial public offering and began trading on Nasdaq in November 2021 under the ticker symbol SOPA.
SoPa has acquired fast-growing e-commerce companies and expanded its user base with a strong ecosystem of products and services. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and the circulation of universal loyalty points, or Society Points, which has entered beta testing and is expected to be widely launched in early 2023. Society Pass loyalty program members can earn and redeem Society Points and receive personalized promotions based on SoPa’s data capabilities and understanding of consumer shopping behavior. SoPa has amassed over 3.3 million registered consumers and over 650,000 registered merchants and brands. It has invested over 2 years in building a proprietary IT architecture to efficiently scale and support its consumers, merchants and acquisitions.
Society Pass leverages technology to create a more personalized experience for customers during the purchasing journey and transforms the entire retail value chain in Southeast Asia. SoPa operations Deep Thought Media Groupa Thailand-based premium digital video multi-platform network focused on social commerce; noosa tripa leading online travel agency in Indonesia; Leisure timea leading provider of hotel management and payment solutions in Vietnam; Gorilla Global, a Singapore-based mobile network operator; Leflair.coma leading lifestyle e-commerce platform in Vietnam; and Pushkarta popular grocery delivery company in the Philippines.
For more information on Society Pass, visit:
The website is located at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook URL: https://www.facebook.com/thesocietypass or
Twitter address: https://twitter.com/society_pass or
Instagram URL: https://www.instagram.com/societypass/.
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Rokas SidlauskasChief Marketing Officer
Source: Society Pass Corporation