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Benzinga
Benzinga
Business
Anusuya Lahiri

Here's Why Society Pass Shares Are Trading Higher Premarket

Gorilla (Organization) SOPA Nasdaq Malaysia Singapore Thailand Vietnam
  • Society Pass Inc (NASDAQ:SOPA) has acquired Singapore-based Gorilla Networks Pte Ltd, a leading next-generation Web3-enabled MVNO.
  • The financial terms of the transaction remain undisclosed.
  • Gorilla offers a full suite of mobile communication services like local calls, international roaming, data, and SMS texting.
  • Gorilla enables its customers to convert unused mobile data into digital assets or Gorilla GO Tokens through its innovative proprietary blockchain-based SwitchBack feature. 
  • With network coverage to over 160 countries, Gorilla looks to drive its customer base by marketing to the region's business and leisure travelers with its user-friendly technology platform. 
  • It plans to expand its MVNO services offering to Vietnam, Thailand, and Malaysia over the next 12 months.
  • Society Pass held $31 million in cash and equivalents as of March 31.
  • Price Action: SOPA shares traded higher by 16.30% at $2.43 in the premarket on the last check Friday.
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