Society Pass Incorporated (“SoPa” or “Society Pass”) (Nasdaq: SOPA), Southeast Asia’s leading data-driven loyalty platform, today announces the acquisition of 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 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.
Despite the recent re-opening of the economy and the easing of multiple restrictions, online home food ordering remains the new normal in the Philippines, similar to trends in other parts of the world. The convenience of ordering-in coupled with the work-from-home set-up and continued preference to avoid crowds encourage patrons to order as often as they did during the past two years.
Society Pass Philippines Country Manager, Arbie Pagdangan explains, “We enthusiastically welcome Mangan into SoPa’s growing loyalty and data ecosystem. We combine the robust technology and operational efficiency of Mangan with our own brand building expertise. Combined with Pushkart, which delivers grocery food to consumers in Metro Manila, and Mangan’s operating focus in the provinces, SoPa is creating a food delivery behemoth to serve the 115 million people of Philippines. SoPa aims to double the number of registered users to over 800,000 and drive app downloads to over 200,000 by the end of 2023. We look forward to building out our next generation loyalty platform as well as opportunistically acquiring market leading companies in F&B, lifestyle, digital advertising and travel verticals in the Philippines for the rest of 2022.”
Ralph Rile, Co-Founder and Chief Executive Officer of Mangan asserts, “When we started Mangan five years ago, our vision was to deliver delicious dishes from Pampanga’s wide array of cafes and restaurants right to our customer’s doorsteps in a hassle-free way. We have witnessed tremendous success in our initial goals, and now, aim to expand Mangan beyond Luzon Island to other regions in the Philippines. This is why joining forces with SoPa is our logical next step, and we are excited about the combined capabilities we will now bring to Mangan’s partners and customers.”
Louie Alcantara Co-Founder and Chief Technology Officer of Mangan expounds, “In a short span of time, with our easy-to-use technology interface, Mangan has established a reputation of being the top online local food delivery service, achieving over US$2 million in gross merchandise value yearly. Leveraging SoPa’s marketing platform and capital, we aim to increase GMV multiple fold by the end of 2022.”