Asia Digest: Japans SpaceMarket Files For IPO; SocietyPass Acquires #HOTTAB 

Japanese space sharing platform SpaceMarket is looking to raise up to $8.5 million through an IPO while Vietnam-based loyalty platform Society Pass has acquired point-of-sale (POS) solutions provider #HOTTAB.

Japanese space sharing platform files for IPO

Tokyo-headquartered space sharing platform SpaceMarket is seeking to raise up to 933.2 million yen ($8.5 million) through an IPO, according to an announcement.

The company will list 520,000 shares on the TSE Mothers Market on December 20, with an over-allotment option to sell an additional 269,200 shares.

The company is aiming for a market capitalisation of 5.8 billion yen ($53.3 million).

Founded in 2014, Space Market lists unused or idle venues and allows users to pick one to rent on-demand for business or private needs such as corporate meetings.

Ho Chi Minh City-headquartered Society Pass (SoPa), a data-driven loyalty platform, has acquired POS solutions provider #HOTTAB for an undisclosed sum, according to an announcement.

The acquisition gives the Society Pass ownership of #HOTTAB’s existing merchant and consumer base, according to SoPa founder and chairman Dennis Nguyen.

“The acquisition expands SoPa’s footprint in Vietnam and augments its product offering for our Platform Partners, consumers, and merchants,” he added.

As a result of the acquisition, SoPa and #HOTTAB’s merchant and consumer-facing apps have been rebranded as ‘#HOTTAB powered by SoPa’.

Established in 2015, #HOTTAB is a pioneering e-commerce and POS solution for Vietnamese merchants and consumers.