Company: OWLS
Filing Date: 2025-02-07
Form Type: DRS/A
Source: 0000950123-25-001222
Chunk: 165

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-02-07
Form: DRS/A
Chunk 165
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Our Mission

Our mission is to use
blockchain technology to provide businesses with more reliable and transparent data management, to reinvent global flow of funds for businesses and consumers, and to lead the digital transformation of traditional business operations.

Overview of OwlTing Group and the OwlPay Platform

We believe in the power of blockchain technology and have focused on using it to optimize, and potentially transform, the way modern small- and
medium-sized enterprises, or SMEs, operate. Established in 2010 in Taiwan, we operate as the OwlTing Group and have delivered solutions to various industries and are expanding actively into multiple markets
including the United States, Japan, Singapore, Hong Kong, Malaysia and Thailand, as well as jurisdictions in South America and the EU. Through our e-commerce, hospitality and payments offerings, we are
committed to serving businesses and individuals whose commercial activities involve cross-border transactions.

From our earliest days
with our product OwlTing Market, our e-commerce platform that was designed to connect local Taiwanese farmers and merchants with their
customers, we have worked closely with the merchants on our platform and come to understand their business pain points. OurOwlTing Blockchain Services emerged from such
business understanding, and we have aimed to build a blockchain traceability solution that empowers organic farmers with better transparency of their business and operations, which can be extended to other use cases.

By building our expertise in blockchain ledger transaction models, we concluded that the prevention of double spending with the use of
timestamps and proof of work could also be utilized in the hospitality industry, which faces the need to address double-booking problems. We thus expanded into the hospitality sector in 2018 by offering innovative solutions to hotels and other
hospitality industry customers through our platforms, including the OwlNest hotel property management system, or PMS, that leverages blockchain technology to prevent double bookings,
and our OwlJourney and OwlTing Experiences, which are online travel agency, or OTA, platforms that benefit from
accurate real-time inventory data from integration with OwlNest’s inventory system, to empower travel service providers with optimized efficiencies and comprehensive travel experiences to offer to their customers.

As we further developed our presence in the hospitality industry, we also gained a first-hand understanding of the challenges of cross-border
payments faced by our hospitality partners. We saw the issues faced by our hospitality partners and their two most prominent pain points in the payment process: high processing costs from cross-border transactions and delayed settlement from the
payers, including large OT