Digital Asset DirectBack to School Tech
News Media Group, Inc.
Contact Details News Media Group, Inc. Karl Wayne +1 334-440-6397 karl@newsmg.com Company Website https://newsmg.com/
August 19, 2022 08:40 AM Eastern Daylight Time
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Digital Asset Direct
News ReleaseDukkantek seals $10m funding round as it scales digital ecosystem for SMB retail sector in MENA
Dukkantek
Store management platform Dukkantek has quickly scaled across the MENA region as SMB retailers adopted their tech for customer services, business processes and faster growth. In supporting this growth, Dukkantek is today announcing an oversubscribed $10m pre-series A funding round as it powers the digital ecosystem for 13 million SMB retailers across the UAE, Oman, Qatar, Kuwait, Bahrain, Turkey and Saudi Arabia as it looks for more opportunities in North Africa. The funding round was led by BECO with significant participation from Rocketship and Colle Capital. Other strategic investors in the round included Comma Capital, AMK Investment Office, Chaos Ventures, and Wamda Capital. The funding round follows their $5.2m seed round in October 2021, taking their total funds raised to $15.2m. Dukkantek was founded in January 2021 by Ali Al Sayegh, Sanad Yaghi and Shadi Joulani. Originally conceived as a service aimed at retailers in the grocery sector, the merchants on the platform now span 70 different verticals, with clothing and electricals particularly prominent alongside food and drink. It has already attracted more than thousands of customers for its suite of services empowering traditional merchants with end-to-end digital technology that improves all business processes. It enables these retailers to run their bricks and mortar stores more efficiently and productively and to make the leap into ecommerce. Dukkantek co-founder Sanad Yaghi commented: “For too long, the owners of small and medium-sized businesses have been left on the margins of the technology shift; now we are serving their unmet needs. We bring a technology platform consisting of three different value propositions that enable these merchants to compete in a digital world” “This includes a set of tools that enables merchants to run their businesses more effectively. Payments options ensure merchants can offer customers more choice about how to settle their bills. And an e-commerce offering which gives merchants everything they need to start selling online for the first time and to manage that operation in tandem with the brick-and-mortar business. Many merchants struggle to keep track of inventory when selling both online and in physical stores, so having one system that incorporates both parts of the business is very important”. The coronavirus pandemic hastened digital adoption in the MENA region, leading to an increase in online shopping, in particular. The region's e-commerce market is expected to reach $49 billion in 2025, up almost 55 per cent from 2021, a report by EZDubai, an e-commerce zone in Dubai, and Euromonitor International showed earlier this year. The UAE’s e-commerce market alone is forecast to grow 60 per cent to more than $8bn by 2025 from 2021. Community retailers in the UAE without a digital presence, who were unable to accept online payments during the pandemic, were severely affected due to the drop in customer footfall. Dukkantek believes that traditional merchants and small and medium enterprises (SMEs) remain the backbone of the global economy, and their transactions should be digitized to keep pace with market developments. And to this end they platform provides: Cloud POS: The Cloud POS is a Point-of-Sales system that can be accessed online, from anywhere. It allows businesses to keep track of transactions & sales, calculate VAT, generate reports and calculate profit margin. Inventory Management: The Cloud IM is an online software that helps businesses track, manage & organize the inventory. It allows users to keep track of stock, measure stock value, manage fast-moving products and generate reports for analysis. Payment Options: The platform offers a variety of payment options including cash, card payments or credit payments. Reports can be generated to track payments. E-Commerce: The e-commerce functionality allows stores to sell their goods online or through an app. One of its features includes live inventory, as it’s linked to the IM & POS software. Another feature is that stores can choose what items to put online and their corresponding prices. Moreover, it sends push notifications to customers. Companion App: The companion app is a mobile application that helps manage the store online. Its features include: Automated Inventory Reconciliation, live store data, linked to IM & POS, ability to track daily sales on the dashboard, ability to review all transactions, and track cash movements and payment methods. "It's very rare to come across a business and team that have been able to execute the way in which Dukkantek has done so far. Launching 7 countries in 18 short months since founding is no easy feat, yet the Dukkantek team has managed to do it in such a seamless and capital efficient manner. We are very excited to partner with Sanad, Ali and the wider team as they look to build on their exciting traction and overall vision of digitizing merchants." said Abdulaziz Shikh Al Sagha from BECO Capital Having met its geographical expansion goals, Dukkantek’s focus will now turn to adding new services. In particular, exploring working capital solutions and building its data analytics capabilities for users. “We have seen an increase in users accessing analytics tools on the platform which, for example, help them understand which products will sell best. Three-quarters of the businesses on the platform are now trading in this way. Also, many merchants are keen to expand the number of stores they operate, but are held back by the lack of finance available in the region which we can look to explore” added Sanad Yaghi. About Dukkantek Founded in January 2021, Dukkantek is the UAE’s first and only revolutionary store management platform that enables traditional merchants to compete equally in an evolving digital world, and further empower their retail capacity. Redefining the conventional way of managing tasks and sales, the innovative platform aims to strengthen local community stores and power digital transformations with end-to-end technology that enhances and streamlines all business processes, enabling them to compete with dark stores and delivery players. Dukkantek is the technology partner for all local community stores in the region. For more information please visit https://www.dukkantek.com Contact Details Dukkantek Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.dukkantek.com/
August 19, 2022 07:00 AM Eastern Daylight Time
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News ReleaseThe White Label World Expo is back and better than ever in New York
White Label World Expo
The White Label World Expo New York edition will once again offer free tickets to thousands of online sellers, suppliers and buyers from all around the globe to join us at the famous Jacob K. Javits Convention Center on September 29th and 30th, 2022. Get ready for two unmissable days of inspiration and education from more than 600 cutting-edge suppliers, 400 industry-leading speakers, and specialized masterclasses! Visitors can source the latest, hottest products ready for white and private labeling, as well as all the latest industry insights, advice, guidance and solutions you need to know to launch or build your business brand. It has never been more important to gain a competitive advantage over your competitors, according to a recent article by Forbes E-Commerce Sales Grew 50% to $870 Billion During The Pandemic, and as business returns to normal, the market continues to grow. At The White Label World Expo visitors have an unmissable opportunity to hear from and interact with some of the most influential experts in the world- face-to-face! The agenda includes speakers from Meta, Amazon, Nike, Walmart, Google, as well as the most successful Amazon and online entrepreneurs sharing their personal stories of success. From product development, business strategy, supply chain management, branding and marketing to insurance, funding, legislative information- the agenda will deliver everything needed to start, grow or expand business. As a global series, The White Label World Expo is lucky to be supported by some of the brightest minds in the industry- with upcoming events in Frankfurt, London and Las Vegas, visitors can expect to network at the New York edition not only with the local business community but also connections from around the globe. The White Label community certainly has a lot to say: Jake Garry, CEO, Drops of Life: “White Label Expo has exceeded everything we have expected from the show. We’re looking forward to being a part of it for years to come.” Morgan Rainey, Amazon FBA Coach, Speaker (IG @cajunvenstures): “We shared our success story with thousands at white label world expo, made life changing connections, & learned skills to take our business to the next level!” Dustin Shultz, Owner, More than a Candle: “We’ve been coming here to the show for the last three years and it has been wonderful. We will definitely be coming back!” The White Label World Expo team is so excited to once again deliver a dynamic, fresh agenda in New York, and provide the ultimate destination for thousands of global leaders, entrepreneurs, online sellers, retailers and distributors. Doors open at 10am, tickets are completely free, and registration is now open- this is one event you cant afford to miss! Secure your free tickets here: https://bit.ly/3c2rGDm Contact Details Laren Fernandez +1 702-410-6746 laren.fernandez@fortem-international.com
August 17, 2022 04:29 PM Eastern Daylight Time
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News ReleaseIs BioLife Sciences (OTCPK: BLFE) An OTC Company Primed For Growth?
BioLife Sciences Inc
BioLife Sciences Inc. (BioLife), a commercialization accelerator, licensor and developer of technologies, has reportedly provided investors with a significant company update throughout the course of a two-year transformation. Over the course of the last two years, BioLife has gone through a number of changes evolving into a revamped corporate entity focused on disrupting various consumer verticals, with a specific focus on health and wellness. Let’s take a look at some of what the company has been up to over the last two years. BioLife Sciences is Born: In June of 2020, the OTC Markets public entity formerly known as Rhino Novi Inc. (RNOV) underwent a reverse merger transaction – changing its name and ticker symbol to BioLife Sciences Inc. (BLFE). While Rhino Novi originally focused on VOIP products, the newly formed BioLife would focus on developing and marketing disruptive technologies to a variety of consumer verticals. Harnessing the Antimicrobial Power of Copper? BioLife has reported it focused on the utilization of the natural antimicrobial power of copper and harnessing its innate benefits into everyday textiles. This dynamic elemental metal has a wide variety of beneficial traits, including being required by all plants and animals as a key mineral and nutrient necessary for survival. In the case of humans specifically, copper reportedly helps to boost red blood cell production, provides support to the immune system, and helps to keep nerve cells healthy. For plants, copper is a fundamental micronutrient that is a critical element of plant enzymes, it is essential for plants’ respiration, plays a key role in plant cell wall strength and contributes to the overall strength of the plant. More recently, copper has been shown to provide antimicrobial efficacy associated with copper alloy touch surfaces. Some hospital studies have shown copper’s effectiveness in lowering E.coli counts on brass doorknobs, as well as SARS-CoV-2, Rhinovirus Type 37, Rotavirus Strain WA, and Human Coronavirus 229E. BioLife says it has focused its attention on incorporating the power of copper into everyday products which are fabric-based and disruptive, in contrast to the market’s current offering. Some of these products in development include copper-infused fabric gardening pots, copper-infused gardening gloves, copper-infused microfiber towels and copper-infused air filters. What is MFusion? The company states that traditional copper-infused products that consumers will find on the market today provide limited-to-partial copper coverage. This means that there could are often gaps in the copper coverage, resulting in less-than-optimal results. BioLife addresses this problem with the introduction of their unique copper infusion process: MFusion. MFusion infuses copper into every sub-bundle of the fabric, providing more complete coverage. When copper is infused into textiles via MFusion, the resulting fabrics benefit from 100% evenly distributed copper coverage. MFusion can be applied to any textile – from t-shirts to air filters – with the result being total copper infusion. The 2022 Acquisition of Health Box LLC – What’s Next? In February of 2022, BioLife completed the acquisition of Health Box LLC – an Arizona-based orthomolecular medicine and natural health products company. By completing this acquisition - and appointing Nika Jaksic, Health Box’s founder, as the new COO, the company believes it has positioned itself to enter the orthomolecular and natural health products space. In order to facilitate the Company’s aggressive expansion plans, the Company filed for a Regulation A+ Tier 1 Offering. The SEC qualified BioLife and the Company is eligible to raise up to $20 million. If successful in its capital raise, BioLife states that they intend to pursue rapid expansion of its existing and contemplated product offerings, audits, and the potential of filling towards uplisting to the OTC Venture Market (OTCQB). This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. BioLife Sciences Inc. specializes in moving innovative products from the lab or small-scale production into wider market adoption. Its core business develops, licenses and distributes antimicrobial products and disruptive technology. One of BioLife Sciences’ core building block strategies is to develop, partner and assist innovative companies with the commercialization of leading-edge technologies. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. Contact Details BioLife Sciences ir@biolifesciences.com Company Website https://www.biolifesciences.com
August 16, 2022 01:25 PM Eastern Daylight Time
News ReleaseAmerican Equipment Holdings Expands Presence in Eastern United States Through Acquisition of Patriot Crane & Hoist
Rotunda Capital Partners LLC
American Equipment Holdings (“American Equipment”), a Rotunda Capital Partners portfolio company, has acquired Patriot Crane & Hoist (“Patriot Crane”), a leading provider of overhead crane maintenance, repair and overhaul (MRO) field services headquartered in Suwanee, Georgia, with operations throughout the Southeastern U.S. The acquisition of Patriot Crane marks the 11 th acquisition completed by American Equipment since partnering with Rotunda in May 2021. For nearly 20 years, Patriot Crane has been a leader in providing comprehensive overhead crane and hoist field service solutions in the most demanding customer environments, including repairs, inspection, and replacement parts, to customers across a diverse range of end markets throughout the Southeastern U.S. During this time, the team at Patriot Crane has distinguished itself with highly skilled overhead crane technicians and a proven customer-first mentality. Combined with American Equipment’s industry leading engineering and fabrication capabilities, technical expertise and best-in-class resources, this partnership enhances the value proposition for both existing and new customers from coast to coast. Patriot Crane will continue to be managed by Gregg Salyer and operate as a division of American Equipment. “The addition of Patriot Crane and their extensive east coast operations is a great win for customers,” said American Equipment CEO Adam Zimmerman. “Our goal at American Equipment has always been to provide a high-quality, one-stop-shop solution from coast to coast, and our partnership with the exceptional team at Patriot Crane is an integral step in delivering that benefit.” “I am thrilled about what this partnership means for Patriot Crane, both for our customers and our employees,” said Gregg Salyer, owner of Patriot Crane. “I believe in the vision that American Equipment has for this industry. The talent and resources supporting this organization create a value proposition like no other in our industry, which will greatly enhance the customer experience and provide meaningful career opportunities for our employees.” About American Equipment Holdings American Equipment Holdings is an organization of leading overhead crane and hoist distributors and field service providers, including American Equipment, Allied Crane, Eastern Crane & Hoist, Facilities Engineering, Kistler Crane & Hoist, Pacific Crane & Hoist, and Washington Crane & Hoist. The consolidated entity is one of the largest independently owned overhead crane and hoist solutions providers in the country, serving over 4,000 customers nationwide. Together, American Equipment Holdings companies provide comprehensive solutions for everything related to customers’ overhead crane and hoist needs, including OSHA mandated inspections, preventative maintenance and repair field services, parts, engineering, ISO certified fabrication, new and replacement equipment, automated systems, system modernizations and training. American Equipment Holdings represents the industry’s leading manufacturers such as Detroit Hoist, Columbus McKinnon, ACCO, R&M, Demag, Gorbel, Spanco, IMS, Harrington, Conductix, Magnetek & PE, among others, and customers rely on its service, design, engineering, fabrication, and installation capabilities to meet their unique application needs. American Equipment Holdings serves local, regional and national customers across a variety of end markets, including light & heavy industrial, automotive, mining, public utilities, military, aerospace & defense and energy, among others. For more information, visit www.amquipinc.com. American Equipment is aggressively seeking to acquire other overhead crane and material handling equipment, parts and service solution providers and is interested in acquisition opportunities presented by business owners, management, or M&A intermediaries. Please contact Ryan Aprill, Principal at Rotunda Capital Partners, regarding acquisition opportunities. About Rotunda Capital Partners Rotunda Capital Partners is an operationally oriented private equity firm focused on transforming family-founder owned companies into dynamic, data-driven platforms able to achieve and manage significant growth. Since its founding in 2009, Rotunda has partnered with management teams to build great businesses within three primary sectors: value-added distribution, asset-light logistics and industrial & business services. Rotunda strives to achieve replicable results by implementing its Rotunda Performance System to create strategic alignment, develop lean processes and create robust, data-driven infrastructures. For more information, visit www.rotundacapital.com. Contact Details Rotunda Capital Partners Jill Lafferty +1 847-280-1295 jill@rotundacapital.com Company Website https://www.rotundacapital.com
August 16, 2022 07:47 AM Eastern Daylight Time
News ReleaseThis Electric Toothbrush Has 6 Cleaning Modes For Reportedly Brighter Smiles
Bruush Oral Care Inc.
https://profiles.smallcapsdaily.com/bruush/ Toothbrushes have come a long way since Babylonians and Egyptians started brushing their teeth with frayed twigs around 3000 BCE. The first more modern toothbrush with a handle carved from cattle bone and a brush made from swine bristles was produced in England around 1780. Natural bristles were used until DuPont de Nemours Inc. (NYSE: DD) invented nylon, which started the development of the truly modern toothbrush in 1938 and the first electric toothbrush in 1939. Although electric toothbrushes date back more than 80 years, they have seemingly not achieved widespread adoption. The global electric toothbrush market size was estimated to be worth $4.3 billion in 2022 and projected to increase to just over $6 billion by 2027, according to Statista. Electric toothbrushes clean teeth, gums and tongue by using rotation or side-by-side movement of the head. Electric toothbrushes are an effective way to remove plaque and reduce gingivitis, and studies show they are more thorough at cleaning teeth than traditional manual toothbrushes. But the moderate adoption rate of the devices arguably demonstrates that consumers need to be educated and provided compelling value propositions to buy them. Cost is a major constraint to the market, and people don’t see them as an attractive addition to their bathroom countertops. Better Brushing? Enter Brüush (NASDAQ: BRSH). While most electric toothbrushes provide 500 strokes per minute, Brüush says its model provides up to 31,000 strokes per minute, attacking plaque 100 times more vigorously than a manual toothbrush. Brüush has six cleaning modes for every type of brusher. The Brüush lithium-ion battery is built to last four weeks on a single charge, and the compact magnetic case makes traveling with the device convenient. The Brüush toothbrush, which comes in five colors with three brush heads and a USB power adapter and charger, retails for $79. And if you sign up for a subscription, Brüush will send you three new brush heads every six months for $18 — that’s just $6 per brush head. Replacing brush heads for Koninklijke Philips N.V.’s (NYSE: PHG) Sonicare can cost as much as $43 for a three-pack, and the price of Procter & Gamble Co. (NYSE: PG) Oral-B line of brush heads reaches as high as $40 for a three-pack, depending on the model. Brüush estimates that 70% of its customer base is between ages 18 and 45 years old, a group that’s under-penetrated compared to baby boomers in terms of using an electric toothbrush. This age group also consists of the first digital generation when it comes to shopping, possibly a positive for a company where its website accounts for the majority of sales. Visit Brüush’s website to learn more about the company and its products. About Bruush Oral Care Inc. Bruush Oral Care Inc. is on a mission to inspire confidence through brighter smiles and better oral health. Founded in 2018, Brüush is an oral care company that is disrupting the space by reducing the barriers between consumers and access to premium oral care products. The Company is an e-commerce business with a product portfolio that currently consists of a sonic-powered electric toothbrush kit and brush head refills. Brüush has developed a product to make upgrading to an electric brush appealing with three core priorities in mind: (i) a high-quality electric toothbrush at a more affordable price than a comparable electric toothbrush from the competition; (ii) a sleek, countertop-friendly design; and (iii) a convenient brush head refill subscription program that eliminates the frustrating experience of purchasing replacement brush heads at the grocery/drug store. The Company is rooted in building a brand that creates relevant experiences and content, with the goal of becoming the go-to oral care brand for millennials and Generation Z.For more information on Bruush Oral Care Inc visit https://bruush.com. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Contact Details TraDigital IR Colette Eymontt colette@tradigitalir.com Company Website https://www.bruush.com
August 11, 2022 01:41 PM Eastern Daylight Time
News ReleaseSize Inclusivity in Fashion
YourUpdateTV
Over the course of the last year, women’s clothing brand, J.Jill, set out to better understand what women want from fashion and the shopping experience. In response, J. Jill is celebrating the launch of Welcome Everybody, a fully inclusive shopping experience online and in stores, that celebrates the totality of women everywhere. Recently, VP of Design at J.Jill, Elliot Staples, and Size Inclusive Style Expert, Rochelle Johnson, participated in a nationwide satellite media tour to discuss size inclusivity and the new Welcome Everybody campaign. A video accompanying this announcement is available at: https://youtu.be/x8xDhhQv9sU The Welcome Everybody campaign is a fully inclusive campaign that clearly communications J.Jill’s significant offerings and aligns with our mission of celebrating the totality of women The campaign was created to create a fully inclusive shopping experience, following extensive listening and market research with customers. Their visual campaigns will be refreshed with a range of models and influencers, such as Rochelle, showcasing a range of sizes and body types to ensure each customer can feel represented in J. Jill campaigns. Women are not just one size fits all, as we know almost 70% of women in the US are size 14 and above. It is important that brands not only understand that but stand behind that and design their product for women of all shapes and sizes. While J.Jill has always catered to this market, they are continuing to evolve and include more inclusive sizing throughout their product offering. Plus size fashion has historically been an underrepresented category in the fashion space and those who have not met the ideal size standards have been limited in fashion options. As Rochelle looks toward the season ahead, in terms of fashion, it’s really all about transitional items that get you from day to night. As a mom of two, anything that makes my morning easier such as ultra- premium fabrics that make my outfits feel luxe. The entire collection boasts beautiful details, easy silhouettes, and soft luxurious fabrics that J. Jill is so well known for. For more information, visit jjill.com About Elliot Staples Senior Vice President of Design, Product Development About Rochelle Johnson Rochelle Johnson, an influential voice in the size inclusivity space. With a dedicated following of over 411K followers on Instagram, Rochelle is an influential voice within the body inclusivity community. Through her social media and blog, Beauticurve, which she started almost 10 years ago, Rochelle refers to her platform as a one stop shop for all curvy girls to live a life of affordable style, lavish home decor, luxury, laughter and self-love. Known for her fashion expertise, Rochelle is working with J.Jill to continue to evolve how they represent all women in their product and in-stores. Contact Details YourUpdateTV +1 212-736-2727 yourupdatetv@gmail.com
August 11, 2022 11:00 AM Eastern Daylight Time
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News ReleaseThis Electric Toothbrush Has 6 Cleaning Modes For Reportedly Brighter Smiles
Benzinga
Toothbrushes have come a long way since Babylonians and Egyptians started brushing their teeth with frayed twigs around 3000 BCE. The first more modern toothbrush with a handle carved from cattle bone and a brush made from swine bristles was produced in England around 1780. Natural bristles were used until DuPont de Nemours Inc. (NYSE: DD) invented nylon, which started the development of the truly modern toothbrush in 1938 and the first electric toothbrush in 1939. Although electric toothbrushes date back more than 80 years, they have seemingly not achieved widespread adoption. The global electric toothbrush market size was estimated to be worth $4.3 billion in 2022 and projected to increase to just over $6 billion by 2027, according to Statista. Electric toothbrushes clean teeth, gums and tongue by using rotation or side-by-side movement of the head. Electric toothbrushes are an effective way to remove plaque and reduce gingivitis, and studies show they are more thorough at cleaning teeth than traditional manual toothbrushes. But the moderate adoption rate of the devices arguably demonstrates that consumers need to be educated and provided compelling value propositions to buy them. Cost is a major constraint to the market, and people don’t see them as an attractive addition to their bathroom countertops. Better Brushing? Enter Brüush (NASDAQ: BRSH). While most electric toothbrushes provide 500 strokes per minute, Brüush says its model provides up to 31,000 strokes per minute, attacking plaque 100 times more vigorously than a manual toothbrush. Brüush has six cleaning modes for every type of brusher. The Brüush lithium-ion battery is built to last four weeks on a single charge, and the compact magnetic case makes traveling with the device convenient. The Brüush toothbrush, which comes in five colors with three brush heads and a USB power adapter and charger, retails for $79. And if you sign up for a subscription, Brüush will send you three new brush heads every six months for $18 — that’s just $6 per brush head. Replacing brush heads for Koninklijke Philips N.V.’ s (NYSE: PHG) Sonicare can cost as much as $43 for a three-pack, and the price of Procter & Gamble Co. (NYSE: PG) Oral-B line of brush heads reaches as high as $40 for a three-pack, depending on the model. Brüush estimates that 70% of its customer base is between ages 18 and 45 years old, a group that’s under-penetrated compared to baby boomers in terms of using an electric toothbrush. This age group also consists of the first digital generation when it comes to shopping, possibly a positive for a company where its website accounts for the majority of sales. Visit Brüush’s website to learn more about the company and its products. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com
August 11, 2022 09:52 AM Eastern Daylight Time
News ReleaseThis E-Commerce-Focused Holding Company Reports Taking Advantage Of E-Commerce Growth In The Philippines
Society Pass Incorporated
E-commerce dates to 1948 during the Berlin Blockade crisis when people ordered goods via telex. The debut of the World Wide Web in 1991 and the development of a web browser in 1993 shifted e-commerce from telex to the internet. The global increase in smartphones and the accessibility of fast internet connectivity over the years has significantly accelerated the growth of the industry, as more people can purchase goods via mobile devices such as tablets and even wearables. China, home of Alibaba Group Holding Ltd. (NYSE: BABA) and the U.S., where Amazon.com Inc. (NASDAQ: AMZN) and eBay Inc. (NASDAQ: EBAY) reside, have been the top countries where e-commerce has grown at a healthy rate. But things might be changing. Southeast Asia is expected to experience the largest worldwide growth in e-commerce with an increase of 20.6% in 2022, according to Insider Intelligence. Only four countries, including the Philippines, will surpass the combined growth rate of Southeast Asia. E-Commerce In The ICT Hub Of Asia The Philippines — dubbed the information and communications technology (ICT) hub of Asia — ranks first in 2022 e-commerce sales, surpassing the U.S. by 10%. E-commerce in the Philippines has grown from $6.78 billion in 2017 to nearly $21 billion in 2022, with expectations of reaching $32.7 billion in 2025. Consumer preference for shopping online and the increasing internet penetration are behind the growth in e-commerce sales in the Philippines, where people spend an average of 10 hours per day online. The government also has taken various initiatives to bolster the sector. The Philippine E-commerce Roadmap 2022 was launched in January 2021 to encourage the use of e-commerce by small and medium enterprises (SMEs) and increase online shopping confidence. "Rising consumer preference for online shopping, the increasing number of online merchants, proliferation of alternative payment solutions and government support will support e-commerce sales in the Philippines. The market is forecasted to grow at a compound annual growth rate of 17% over the next five years," Global Data Banking and Payments Senior Analyst Shivani Gupta said. The Fastest Growing E-Commerce Model? In addition to buying and selling goods on leading platforms such as Lazada and Sea Ltd. ’s (NYSE: SE) Shopee Philippines, Filipinos shop on social media platforms. The social commerce market is expected to reach nearly $682 million this year thanks to the growing number of people flocking to social media platforms to buy products. Companies like Belo Medical Group and Shopee Philippines are using social media platforms such as TikTok to increase sales. Penetrating The E-Commerce Market In The Philippines Society Pass Inc. (NASDAQ: SOPA) says it is on track to infiltrate the fastest-growing e-commerce market in Southeast Asia through acquisitions. Established in 2018, Society Pass (SoPa) has quickly scaled up its operations in Southeast Asia and South Asia through its e-commerce platforms and acquisitions. The company has acquired a number of companies, including the restaurant delivery app Mangan.ph, Gorilla Networks, a next-generation Web3 mobile virtual network operator, and #HOTTAB Biz, a business management platform. The acquisition of online grocery shopping and delivery platform Pushkart.ph is expected to increase SoPa’s revenue by 891% over last year. Pushkart boasts having more than 125,000 users and 20,000 mobile app downloads. Pushkart is looking to expand its presence beyond metro Manila. The company recently announced plans to expand in cities across the Cavite and Pampanga provinces, which have a population of over 6 million people. Pushkart President and CEO Michael Lim said this is the beginning of the company’s goal to expand to other parts of the country and across Southeast Asia. Sopa recently acquired Mangan.ph (“Mangan”), the leading local restaurant delivery service in the Philippines. Founded in 2017, Mangan delivers restaurant food from over 1,200 partner restaurants through its over 200 rider network to its over 500,000 registered users. Thus far, Mangan has generated more than 100,000 mobile app downloads and accumulated over 80,000 social media followers. Operating in Pampanga, the culinary capital of the Philippines, Mangan’s geographic reach extends to 16 other cities including Angeles City, San Fernando, Clark, Dau, Mabalacat, Guagua, Lubao, Tarlac, Bataan, Magalang, Pasig, Cabanatuan, Baguio, Lipa Batangas, Antipolo City, Dagupan City. The newly acquired business will be integrated into SoPa’s F&B vertical, Push Delivery Pte Ltd, along with Pushkart and #HOTTAB. As a loyalty and data marketing ecosystem, Society Pass 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 Society Pass 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 IT architecture with cutting edge components to effectively scale and support its consumers, merchants, and acquisitions.Society Pass 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, SoPa operates Leflair.com, Vietnam’s leading lifestyle e-commerce platform, Pushkart.ph, a popular grocery delivery company in Philippines, Handycart.vn, a leading online restaurant delivery service based in Hanoi, Vietnam, and Gorilla Networks, a Singapore-based, blockchain/web3-enabled mobile virtual network operator.For more information, please check out: http://thesocietypass.com/. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Dennis Nguyen: Founder, Chairman & CEO +1 877-440-9464 dennis@thesocietypass.com Company Website https://thesocietypass.com
August 10, 2022 03:05 PM Eastern Daylight Time
