Thoughtful Media Group, a South East Asia-focused influencer advertising platform spun out of Society Pass, filed with the SEC on Friday to raise $6 million in an initial public offering.
The Bangkok City, Thailand-based company plans to raise $6 million by offering 1.3 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Thoughtful Media Group would command a fully diluted market value of $77.6 million and an enterprise value of $68.8 million.
Thoughtful Media Group connects advertisers, brands, and merchants with over 10,000 influencers to targeted audiences across Thailand, Vietnam, Indonesia, and the Philippines. Its services focus on multi-channel networks, premium advertising, social commerce, sports marketing, including e-sports marketing, content (e.g. podcasts, movies) production and distribution, and music entertainment verticals.
During the six month ended 6/30/2024, revenue increased 19% to $3 million. Gross margin expanded 604 bps to 25%. Adjusted EBITDA loss narrowed -7% to -$0.1 million, and adj. EBITDA margin rose 103 bps to -4%.
The Bangkok City, Thailand-based company was founded in 2010 and booked $7 million in sales for the 12 months ended June 30, 2024. It plans to list on the Nasdaq under the symbol TMGX. Cathay Securities and Bancroft Capital are the joint bookrunners on the deal.
