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WiMi Built the Next Generation of XR to Enter the Business Market As the Metaverse Continues to Grow

WiMi Hologram Cloud Inc.

The Metaverse, a digitized virtual reality realm, is gaining popularity. The buzzword “Metaverse” was coined by sci-fi author Neal Stephenson in his novel Snow Crash in 1992. Its popularity is due to Facebook's decision to rename "Meta." The Metaverse is Not Far Away What is the Metaverse? We may picture it as a new interconnected platform. Ordinary video game players can only see what they are playing through a 2D flat screen on a mobile phone or computer. In contrast, the Metaverse can create a 3D space where players can access an immersive gaming experience. This is the charm of the Metaverse: people can switch between virtual and reality seamlessly. So how can we enter the Metaverse space? Major tech companies are now actively developing their ultimate solution, which is XR. XR is the next-generation mobile computing platform that combines real and virtual worlds, including VR (Virtual Reality), AR (Augmented Reality), and MR (Mixed Reality). It is the key to the Metaverse, which can create immersive experiences. While XR has been applied in gaming and socializing for decades, it remained insipid until the technological advances and social changes brought about by the epidemic, which promoted the development of the Metaverse and inspired tens of billions of dollars of investment. It also made people believe that the Metaverse is the future and the next battlefield of the Internet. The XR market has been booming with great potential in recent years. The global VR industry size is expected to grow at an average annual rate of about 54% during the five years from 2020-2024, with VR growing at about 45% and AR growing at about 66%, both with a market share of RMB 240 billion in 2024, according to International Data Corporation (IDC). WiMi’s XR Opens Gate to the Metaverse It is sensible that the Metaverse will bring a new era for humanity in the coming years. WiMi Hologram Cloud (NASDAQ: WIMI) is devoting itself to developing Metaverse technology and has become an active player in this field. It is understood that the core team of WiMi has been engaged in the XR field for years. WiMi also established the Metaverse division to seize the golden opportunity and to design and produce industry benchmark XR products and experiences in software, content, system, SDK tools, and hardware for customers. After years of development, WiMi has become a leading XR builder in the industry and has established a relatively complete technology R&D system, content production and reserve system, and commercialization system. It has a robust XR technology research and development ecosystem. It has built an XR value industry chain with great potential for expansion. WiMi focuses on professional fields in Metaverse applications such as home entertainment, light field cinema, performing arts system, commercial publishing system, advertising display system, etc. In addition, WiMi has established a comprehensive XR content library compared to its peers. With 195 patents on technologies related to image processing and display, model input/output, 3D modeling, and 325 software copyrights, WiMi has produced over 4,600 high-quality, high-fidelity XR contents. In terms of the number of XR patents and software copyrights, WiMi is in the first tier of the industry. From the whole industry's perspective, XR technology commercialization has gone through the market education phase and gradually transitioned to the high-speed development period. Metaverse is a track with high market potential for WiMi. Based on the market trend and its experience, WiMi is firmly committed to a long-term development strategy and continues to improve brand awareness through the business market. WiMi is experienced in the market and can provide hardware and software solutions for the whole industry chain, empowering large enterprises and customers in the office, socializing, advertising, financing, and other fields, helping enterprises and customers reduce costs and increase efficiency. And next, WiMi will combine the advantages of 5G large bandwidth transmission, boost R&D and accumulate more service experience. Closing Remarks In 2022, the metaverse market is in full swing, with many tech companies scrambling to get in. Giants are entering the market, with Qualcomm launching a new generation of XR chips and Tencent setting up an XR division. More than 500 companies have reportedly joined the metaverse market. McKinsey believes the metaverse market will reach $5 trillion by 2030. This vast market share is unprecedented for all the major tech giants. About WIMI Hologram Cloud WiMi Hologram Cloud, Inc. (NASDAQ: WIMI), whose commercial operations began in 2015, is a holographic cloud comprehensive technical solution provider that focuses on professional areas including holographic AR automotive HUD software, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation and others. Its services and holographic AR technologies include holographic AR automotive application, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic communication and other holographic AR technologies. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Contact Details WIMI Hologram Cloud Inc. pr@wimiar.com Company Website http://www.wimiar.com/en/

August 19, 2022 11:00 AM Eastern Daylight Time

Without Proper IT Protection, It's Just A Matter Of Time Before SMBs Get Hacked

Sekur Private Data Ltd

For several years now, many small and medium-sized businesses (SMBs) have been under the assumption that if they just move their files and data to the cloud, they will be protected. The hope is that cloud-based services like Amazon.com Inc. (NASDAQ: AMZN) Web Services, Microsoft Corp.’s (NASDAQ: MSFT) Azure and IBM (NYSE: IBM) Cloud Services will provide a layer of protection for sensitive information and peace of mind. But even cloud software providers can be subject to hackers and data breaches. Unfortunately, most SMBs are unaware their remote workers are creating even more opportunities by using unsecured systems to conduct business, further compromising whatever data protection they use. SMBs diligent in using the right tools and processes to protect their data from attacks such as hacking and theft are providing a shield against cyber intrusion and phishing scams. In doing so, they protect sensitive data such as email addresses, phone numbers, medical information, bank and credit card numbers and, in some cases, private medical information. New research shows that many are missing the mark in this area. SMBs Are A Huge Hacking Target According to a benchmark study by Cisco Systems Inc. (NASDAQ: CSCO), SMBs account for more than 40% of all data breaches, with more than six out of 10 reporting at least one cyber attack in the past year resulting in at least eight hours of business shutdowns. Thirty percent of small businesses consider phishing attacks to be the most significant cyber threat, with 1 in 5 having no endpoint security and more than half existing without any information technology (IT) security staff in house. As SMBs struggle to find cost-effective solutions to the issue, the stress of protecting data is also affecting their workflow. A new survey from CNBC and SurveyMonkey found that nearly 4 in 10 small-business owners say they are very or somewhat concerned their business will be the victim of a cyber attack within the next 12 months. There Are New Data Protection Tools Now Available One company leaping to provide inexpensive and peace-of-mind offerings for SMBs is Swiss-hosted privacy and cybersecurity company Sekur Private Data Ltd. (OTCQB: SWISF), which focuses on privacy and security communications and data management solutions. The company developed SekurMail and SekurMessenger as part of a privacy and security bundle of email, messaging and file transfer in one application featuring the company’s latest SekurSend and Chat-by-Invite technology. That technology includes proprietary anti-phishing and privacy features in SekurSend®, which allows users to send an email to any other recipient — whether they have Sekur or not — in complete privacy and security. The email never leaves Sekur’s encrypted email servers in Switzerland. The recipient can then click on the notification and reply in the same manner using SekurReply® without registering for a Sekur account. SekurMessenger comes with a proprietary feature and technology called "Chat-By-Invites". This feature allows a SekurMessenger user ("SM user") invite a non-SM user, or a group of non-SM users, to chat in a fully private and secure way, without the recipient ever having to register to SekurMessenger or download the app. At the end of the chat, the initiator of the conversation can remotely terminate the conversation and all traces of the conversation are deleted from all users, including the recipient. The invite can be sent via Email or SMS. Sekur has already enabled invites in 61 countries, covering over 3.40 billion people, and will add more countries as Sekur expands globally. The target sectors are numerous, including but not limited to real estate, legal, finance, medical, government, energy, manufacturing. Sekur has big plans to reach SMBs with solutions for the remainder of 2022 and 2023, including: Developing new email and digital marketing and search-engine optimization (SEO) targeting over 3 million SMBs out of the 30 million in the U.S. with a conversion goal of up to 10% (up to 300,000 SMBs and up to 1 million to 1.5 million users). The development and use of additional marketing tools on several types of media, including a significant launch in its SekurMail product over all digital media and electronic billboards in New York City to complement its planned television ads and new interviews. The product launch of SekurVPN, SekurVoice and SekurPro, a video conferencing tool targeting C-level executives. The company offers its products globally through its websites, approved wholesalers and distributors, and telecommunications operators. For more information on Sekur Private Data, visit https://sekurprivatedata.com. For more information on Sekur solutions, visit https://www.sekur.com. Sekur is a Privacy and Security solution developed by GlobeX Data S.A. and licensed globally through its sister companies GlobeX Data Ltd. and GlobeX Data Inc. GlobeX Data Ltd. is a publicly traded Cybersecurity and Internet Privacy provider of Swiss hosted solutions for secure communications and secure data management. The company trades in the public stock markets under tickers (OTCQB: SWISF), (CSE: SWIS) and (FRA: GDT).For more information about GlobeX Data please visit us at https://globexdata.com. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Alain Ghiai aghiai@sekur.com Company Website https://sekur.com/en/about

August 18, 2022 05:26 PM Eastern Daylight Time

Fullintel Appoints Angela Dwyer as Head of Insights

Fullintel, LLC

Fullintel, a leading media monitoring and media intelligence service, is proud to announce it has appointed Angela Dwyer, a leader in the global PR measurement industry, as its new Head of Insights. A former senior vice-president at NYC-based PR agency Lippe Taylor and senior project manager at PRIME Research (now Cision), Angela has spent years developing and implementing advanced media metrics – such as the Hypatia Gravity Score – to help improve the effectiveness of PR campaigns and media outreach. She’s also actively involved in the Institute for Public Relations (IPR) and International Public Relations Research Conference (IPRRC). Building on Fullintel’s Award-Winning Media Measurement Foundation “Fullintel has mastered a cost-effective, human-curated media monitoring approach,” explains Dwyer, “along with a great analysis foundation in terms of Fullintel’s Media Impact Score and PredictiveAI™ crisis module. I want to continue adding to that by customizing the approach for each client based on a range of factors, such as drivers of recall, predictors of how someone might think about your brand, or even different audience drivers depending on the client’s goal.” Angela’s addition builds on Fullintel’s growing momentum in the PR measurement industry, culminating in the company winning Gold, Silver, and Bronze awards at the 2021 AMEC Awards for media measurement. “Angela is one of the most talented senior members of the global measurement community, period. We’re extremely proud to have her join our team,” said Fullintel President Andrew Koeck. “We look forward to providing our clients across healthcare, tourism, retail, aviation, and other industries with even more impactful and actionable insights, based on our ever-evolving measurement program and new products such as PredictiveAI.” Improving Measurement Standards For Communicators Angela is a regular on several industry committees and boards, including the International Public Relations Measurement Commission. She’s also set to join other media measurement experts in hosting the Institute of Public Relations (IPR) Master Class, a strategic playbook for communicators featuring eight live and interactive sessions from Sept. 19, 2022 to April 18, 2023. About Fullintel: Fullintel combines best-in-class technology with expert content curation to deliver the most relevant, cost optimized media monitoring, daily news briefs, and media analysis possible. Our analysts curate print, online, social media, broadcast, and influencer opinions in real time compiled by technology, supplemented and verified by humans. Where technology alone fails, your dedicated analyst has you covered. Fullintel has offices in Cambridge, Mass., Ottawa, Ont. and Nagercoil, India. Contact Details Fullintel Samuel Chen +1 339-970-8005 schen@fullintel.com Company Website https://fullintel.com/

August 17, 2022 10:20 AM Eastern Daylight Time

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Spiceology Named Inc. 5000 Fastest Growing Spice Company for Fourth Year in a Row

Spiceology

This week, Inc. Magazine announced that Spiceology was named to its Inc. 5000 list for the fourth year in a row; the list recognizes the fastest-growing private companies in America. Since first being recognized by Inc. 5000 in 2018, the company has grown annually by an average of 72 percent. The chef-owned and -operated spice and flavor company provides ground fresh ingredients and innovative spice blends to make it easier for chefs and home cooks to experiment with flavor. “Being recognized by the Inc. 5000 list for the fourth year in a row is a true testament to the innovation we bring to the spice category,” said Darby McLean, President of Spiceology. “From professional chefs to home cooks, we’re changing the way people cook and the way they think about the role of spice blends in their cooking.” In the past year, Spiceology has grown through a relentless focus on raising awareness of its signature spice blends while also launching collaborations with chefs Alvin Cailan, Jet Tila and Kwame Onwuachi and global brands Maker’s Mark 46, Marley Kitchen and Hell’s Kitchen. In addition to new spice lines, Spiceology launched its second e-commerce website dedicated to chefs and foodservice customers: chefs.spiceology.com. The site also announced the creation of Spiceology’s “Fresh Network” of distribution partners, providing more ways for chefs to order its grind-fresh, ship-fresh products.. “The accomplishment of building one of the fastest-growing companies in the U.S., in light of recent economic roadblocks, cannot be overstated,” says Scott Omelianuk, editor in chief of Inc. “Inc. is thrilled to honor the companies that have established themselves through innovation, hard work, and rising to the challenges of today.” To learn more about Spiceology, visit spiceology.com, chefs.spiceology.com, and connect on social at @spiceology. ABOUT SPICEOLOGY Founded in 2013, Spiceology is the fastest-growing spice company in America and is on a mission to bring the magic back to spices, the world’s first currency. The chef-owned and operated, one-stop spice shop develops innovative blends and offers over 300 ingredients that are ground fresh in small-batches and shipped fresh to consumers and chefs. Spiceology’s “experiment with flavor” ethos is not only embraced through excellent ingredients and unique combinations, but also through responsible business practices designed to create a better world with diversity, equity and inclusion at the heart of the workforce. Spiceology products can be found on spiceology.com, chef.spiceology.com, in specialty retailers and grocers, in restaurants around the US, and as far away as Australia and Dubai. Visit spiceology.com for more information or to place an order, or follow Spiceology on Facebook and Instagram. For recipe inspiration, visit here. ABOUT INC. The world’s most trusted business media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference & Gala is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com. For more information on the Inc. 5000 Conference & Gala, visit http://conference.inc.com/ Methodology Companies on the 2022 Inc. 5000 are ranked according to percentage revenue growth from 2018 to 2021. To qualify, companies must have been founded and generating revenue by March 31, 2018. They must be U.S. based, privately held, for profit, and independent not subsidiaries or divisions of other companies as of December 31, 2021. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2018 is $100,000; the minimum for 2021 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places. The top 500 companies on the Inc. 5000 are featured in Inc. magazine’s September issue. The entire Inc. 5000 can be found at http://www.inc.com/inc5000. Contact Details Spiceology Cassidy Levine +1 908-770-7880 cassidy@spiceology.com Company Website https://spiceology.com/

August 17, 2022 08:00 AM Eastern Daylight Time

DonorsTrust Givers Recommended $126 Million in First Seven Months of 2022

Donors Trust

The DonorsTrust community of givers during the first seven months of 2022 recommended more than $126 million to nearly 2,000 unique nationwide charities, defying historical rates of inflation and ongoing market volatility. While this 11% increase in YTD charitable dollars is significant, the total number of grant requests is up a whopping 49% compared to the same time period last year, suggesting the DonorsTrust client community is spreading more dollars among more institutions. As DonorsTrust President and CEO Lawson Bader says, “The sheer volume of grant requests so far from our community of givers is a reflection of the historic number of new accounts opened with DonorsTrust during 2021 and 2022. “What’s more, the pace at which our donors are meeting charitable needs is evidence of an engaged, serious community of givers that understands nonprofits need more financial assistance to make ends meet during these turbulent economic times.” Grant-making accelerates year-over-year despite market pressures In 2021, DonorsTrust paid out nearly $190 million to charities nationwide and—if giving continues to keep pace with the first half of 2022—it will end the year easily exceeding last year’s record-breaking total. DonorsTrust givers are stepping up to meet needs even though the S&P 500 has declined 20% YTD, the index’s worst six months in more than 50 years, according to CNBC. Other major stock indexes like the Dow and the Nasdaq were down 15% and 30%, respectively, in the first half of 2022. Donor-advised funds, also known as charitable-giving accounts, offer some shelter from the turbulent markets, however, as the charitable tool enables givers to claim an immediate tax deduction for each irrevocable donation made to their donor-advised fund, also known as a charitable-giving account. Donors respond to war in Ukraine, policy challenges at home During the first half of 2022—in partnership with the Atlas Network, a global network of think tanks that work to secure economic and personal freedom for all individuals—DonorsTrust’s donors responded to the Ukrainian crisis by raising more than $2.5 million and counting for life-saving supplies. DonorsTrust Vice President Peter Lipsett earlier this year interviewed Dr. Tom Palmer, executive vice president for international programs at Atlas Network, about the relief missions Palmer personally conducted, delivering supplies from a Polish base and coordinating travel for those fleeing Ukraine. “[Ukrainians] are committed, not merely to repelling [Russian] aggression, but to doing it because they want a free society. They want to live with freedom of speech and free markets and the ability to live your own life as you want and not as someone commands you to live,” says Palmer. In addition to funding relief efforts in Ukraine, clients’ giving in the first seven months of the year focused heavily on grant-making to policy organizations that preserve and protect civil liberties. More than $85 million in the first seven months of 2022 went to policy-focused charities, including State Policy Network, the Foundation for Government Accountability and the Constitutional Defense Fund. ### About DonorsTrust DonorsTrust is a mission-focused donor-advised-fund provider that primarily serves conservative and libertarian givers. Established in 1999 as a 501(c)(3) public charity, DonorsTrust is a community of donors devoted to creating a better future for all. DonorsTrust supports charities it believes protect constitutional liberties and strengthens civil society through private institutions and initiatives. Since its inception, DonorsTrust has granted nearly $2 billion to more than 4,000 charities in the arts and sciences, education, public policy, religion, and social services. Contact Details Dan Rene +1 202-329-8357 daniel.rene@kglobal.com Company Website https://www.donorstrust.org/

August 15, 2022 02:30 PM Eastern Daylight Time

Size 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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Blink Appoints Jim McInerny as Chief Revenue Officer as US ARR Growth Exceeds 350% Y-o-Y

Blink

Blink, the employee app for frontline workers, has appointed Jim McInerny as Chief Revenue Officer. The appointment comes as Blink’s presence in the United States reaches new heights, with 350% growth in Annual Recurring Revenue (ARR) in the last 12 months, and the onboarding of major new frontline workforces, including Elara Caring and Coach USA. A veteran of technology sales, McInerny brings an impressive success record of growing software businesses, most notably as the 12th employee at Application Resource Management (ARM) platform Turbonomic, where he built a sales organization that went on to take the business from $0 to $85 million ARR within five years. Turbonomic sold to IBM in 2021 at a valuation of $2 billion. He joins Blink following nearly four years at security ratings platform BitSight, where his role as Vice President, America Sales significantly contributed to the company growing from $38 million ARR to $115 million within three years. In his prior role at Dell EMC, McInerny helped design and build EMC’s pioneering global inside sales program, growing to a team of over 600 people and $300 million in mid-market revenue within seven years. In addition to his sales leadership roles, McInerny has also taught at the University of New Hampshire’s Paul School of Business, supporting the college’s students in entering technology sales through the Professional Sales Group (PSG). Speaking on McInerny’s appointment, Sean Nolan, Founder and CEO of Blink, said: “Jim’s appointment comes as the result of an extensive search for a revenue leader who not only has a strong track record, but has the drive to exceed it. We’re thrilled to have him join this driven and dynamic team and are looking forward to seeing his leadership take our growth to new heights.” In the newly established role of Chief Revenue Officer, McInerny will lead a significant expansion in Blink’s go-to-market activities across its three primary territories: the US, UK and Australia, with more to be added. McInerny will be based in Blink’s new Boston office, where the team has grown by over 60% in the last year. McInerny added: “Blink has the ability to completely change the way that millions of people experience work, and its potential for growth and impact therefore knows few limits. This is a unique and truly inspiring opportunity, and I’m excited to start working with Sean and the rest of the leadership team on the next step of this journey.” McInerny’s appointment is one of a number of senior hires made at Blink in the last six months, including the company’s first Chief Marketing Officer and Vice President of People. Jeff St Laurent, formerly of Dell EMC and ServiceNow, was also appointed to Blink’s Board. Jeff brings extensive experience in leading and scaling high-performing sales teams in the US: at ServiceNow, he was a key member of Frank Slootman’s leadership team, responsible for growing revenues from $100m to $3bn. Blink is a platform that gives frontline workers access to the people, processes, communications and applications they need to do their jobs – all through their corporate or personal devices. In doing so, it delivers higher productivity, increased retention and more conversations that close the gap between frontline workers and executives. Since launching in 2018, it now serves 230 customers across the UK, APAC and US, including Network Rail, Stagecoach and the NHS. For more information go to https://joinblink.com/ Press Kit Blink is a communications platform that transforms productivity and boosts staff satisfaction leading to increased retention at frontline organisations. We do this by giving frontline workers mobile access to everything they need when they need it. People, processes, communications and applications in one easy-to-use app. We are proud to be trusted partners to some of the biggest and most complex frontline organisations in the world, including Elara Caring, Network Rail and Domino's. Contact Details Blink Hannah Nakano Stewart, Chief Marketing Officer +1 917-795-8853 Hannah@joinblink.com Company Website https://joinblink.com/

August 11, 2022 08:00 AM Eastern Daylight Time

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NASDAQ: $AMST Amesite to Provide Website Integrated eCommerce Solution to Major New Partners

Amesite Inc.

Contact Details Amesite, Inc. +1 734-876-8141 info@amesite.com Company Website http://www.amesite.io

August 10, 2022 06:08 PM Eastern Daylight Time

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This 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

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