S’pore blockchain-based MVNO Gorilla Networks acquired by Society Pass
Singapore-based telecommunications startup Gorilla Networks has been acquired by Society Pass Incorporated, a data driven loyalty and e-commerce platform based in Vietnam.
Gorilla Networks was founded in 2019, and operates as a Web3.0-enabled mobile virtual network operator (MVNO). The company made waves with its offerings, combining of mobile services with non-fungible tokens (NFTs).
Currently, Gorilla has network coverage to over 160 countries, and offers customers the ability to convert unused mobile data into NFTs and Gorilla GO tokens, which can be redeemed for vouchers, among other perks.
With international borders reopening as the world recovers from the Covid-19 pandemic, Gorilla expects to increase its customer base by marketing to the region’s travellers, and plans to expand its MVNO services to Vietnam, Thailand, and Malaysia over the next 12 months.
Xanne Leo, founder and CEO of Gorilla Networks stated that the partnership would combine the marketing capabilities of both companies, and allow Gorilla to bring value to more users in line with their vision to build a “democratised mobile communications service platform”.
Society Pass, as an e-commerce platform, operates several platforms across Southeast Asia, and focuses on analysing user data and enabling businesses to build customer loyalty through their proprietary IT architecture and specialised POS technology solution. Their POS system includes a comprehensive system for payment, loyal customer management, user profile analytics, among other features.
Dennis Nguyen, founder and CEO of Society Pass, explained that the acquisition would allow Society Pass to incorporate Gorilla’s blockchain and Web3 capabilities into Society Pass’ ecosystem, and enable clients to tap into the metaverse for future development.
“Gorilla’s Gorilla’s technology platform aligns well with our acquisition strategy. From our Leflair lifestyle e-commerce platform to our Pushkart/Handycart F&B delivery services, as we roll out the Society Pass loyalty platform in the coming months, we leverage Gorilla’s technology to drive customer retention for merchants and create innovative revenue models for our ecosystem.”
Featured Image Credit: Society Pass Incorporated / Gorilla Mobile