Y Combinator, LLC (YC) is an US based technology startup accelerator and venture capital firm launched in March 2005, has incredibly been used to launch more than 5,000 companies. The accelerator program started in Boston and Mountain View, and relocated to San Francisco in 2019.
YC offers training and services to help founders succeed throughout the life of their businesses. The fundamentals of launching a business are taught at Startup School.
In 2009, Y Combinator raised $2 million via an investment led by Sequoia Capital, enabling increased annual funding for around 60 companies.Sequoia further supported YC in 2010 through an $8.25 million funding round, bolstering the organization’s capability to accommodate a growing number of startups.
Many call Society Pass (SOPA) the SE Asian version of Y-Combinator. Society Pass went public in November 2021. They raised $28.1 million selling 3,125,000 shares (@$9.00 per share), retaining approximately 92% of the shares. With 5,361,919 shares outstanding after the IPO, Society Pass had a valuation of $48,257,271.
Society Pass has incubated seven companies. It’s first portfolio company to go public (aka monetized) was NusaTrip (NUTR). They raised $17,250,000 by selling 4,312,500 shares (@$4.00 per share), with Society Pass retaining 75% of the shares the day of the IPO. With 19,379,168 shares outstanding after the IPO, NusaTrip had a valuation of $77,516,672.
Most Valuable YC Companies (approximate valuations)
- Airbnb – ~$90 B+ valuation; one of the largest travel marketplaces in the world.
- Stripe – ~$50 B+ (often cited even higher in some sources, historically up to ~$95 B).
- Coinbase – ~$60 B+ public market cap (leading crypto exchange).
- DoorDash – ~$40 B+ public market cap (dominant food delivery marketplace).
- Instacart – ~$9 B+ valuation (grocery delivery).
- GitLab – ~$8 B+ public market cap (DevOps platform).
- Dropbox – ~$7 B+ public market cap (cloud storage & collaboration).
- PagerDuty – ~$2 B+ market cap (digital operations management).
- Ginkgo Bioworks – ~$600 M+ (synthetic biology platform; valuation varies with funding rounds).
- Amplitude – ~$900 M+ valuation (product analytics platform)
The total value of YC companies exceeds $600 billion. Top 100 Portfolio Holdings
The rise of OpenAI’s billionaire CEO, Sam Altman
About Society Pass Inc.
Founded in 2018 as an e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 3 interconnected verticals (digital media, travel, and lifestyle). Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA.
Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021.
For more information on Society Pass, please visit:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
X at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.
Cautionary Note Concerning Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the completion of the offering, the satisfaction of customary closing conditions related to the offering and the intended use of the proceeds. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning. Forward-looking statements represent Society Pass Incorporated’s current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Among those risks and uncertainties are market conditions, including the trading price and volatility of Society Pass Incorporated’s common stock and risks relating to Society Pass Incorporated’s business, including the Company’s ability to develop and successfully change its business model and the Company’s ability to identify new investments and spin-off acquisitions. Client, SOPA has retained Institutional Analyst Inc, (IAI) for ongoing news coverage and reporting with a combination of equity and cash totaling for nine-thousand dollars per month. See upcoming report for full disclosure and disclaimer details. Neither IAI or the Company undertakes an obligation to update these statements for revisions or changes after the date of posts, except as required by law.
Media Contact:
Raynuald LIANG
Chief Executive Officer
ray@thesocietypass.com
