SOPA - Society Pass Inc. (Nasdaq: SOPA)/Thoughtful Media Group Inc (TMG): Greenridge Global Initiates Equity Research Coverage on TMG; TMG To Capture Significant Advertising Market Share In Southeast Asia | Benzinga
NEW YORK, Dec. 13, 2023 (GLOBE NEWSWIRE) -- Society Pass Inc. (NASDAQ:SOPA) ("SoPa" or the "Company"), Southeast Asia's (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem, and Thoughtful Media Group Inc ("Thoughtful Media Group" or "TMG"), a Thailand-based social commerce-focused, premium digital advertising network of the SoPa ecosystem, announces that Greenridge Global LLC ("Greenridge") has initiated equity research coverage on TMG.
Click Here (on Society Pass website) to view the full Greenridge Equity Research Report.
Summary Points:
• Corporate Summary: Founded in 2010, TMG aims to be the premier digital advertising firm in SEA and offers creative strategy, content creation and production, media placements and targeted distribution, and performance analytics services. It also connects advertisers, brands and merchants with its network of over 10,000 influencers to target consumers in SEA through its social media-centric advertising platform. The Company boasts a client list of over 500 brands, from local to globally recognized, and has a client satisfaction rate of 98%.
• Valuation: Based on an EV/Revenue multiple of 3 times its 2025 Revenue estimate of $23 million and discounted back one year at 20%, Greenridge values TMG at $60 million. It states that TMG's huge organic growth and SEA influencer market's fast growth as bases for its valuation estimate.
• Upcoming 2024 IPO: SOPA intends to spin out and publicly list TMG via Nasdaq IPO in 2024.
• Huge Market Potential: SEA influencer marketing services already generates over $600 million in turnover and is poised for exponential growth due to SEA's young population, 482 million active social media users, and 10 hours per day of daily online usage.
• Highly Attractive Demographics: Outside of Thailand, the median age of the other four SEA target countries is around 30 years old, which is far below that of more developed countries, including China. The low median age is significant as this age group are prevalent users of the Internet and social media. Internet penetration is between 72% and 96% across the five key countries, with mobile penetration even higher as there are 1.28 to 1.63 mobile devices per person. Social media usage is also higher in SEA, at between 60% to 78% penetration, for a total of 482 million active social media users. After adjusting for those individuals age 18 and over, the usage rate increases to 79% to ...
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