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Here are 1-2 brief analogies to describe Social Commerce Partners (SCPQ):

• SCPQ is like a smaller **IAC (InterActiveCorp) for social commerce businesses.**
• SCPQ is like **Constellation Software for social commerce solutions.**

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I could not find any public company with the symbol SCPQ named 'Social Commerce Partners' in major stock exchange databases or financial news sources. It is possible that this company is fictional, a private entity, or its symbol/name is incorrect. Therefore, I cannot identify its major products or services.

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Upon reviewing public records, Social Commerce Partners (SCPQ) does not appear to be an actively traded public company. Therefore, specific details about its major customers are not publicly available.

However, based on its implied business name "Social Commerce Partners," it is highly probable that if such a company existed, it would primarily operate on a business-to-business (B2B) model. It would likely provide services, technology, or strategic guidance to other companies seeking to enhance their sales and engagement through social media platforms. Its major customers would therefore be other businesses.

Drawing on this interpretation, here are categories of companies that would likely be major customers for Social Commerce Partners, along with representative public examples:

• Global Consumer Brands & Retailers: Large enterprises with extensive product lines and retail presence, actively investing in digital commerce and social media strategies to reach their vast customer base.
  • Nike, Inc. (NYSE: NKE)
  • LVMH Moët Hennessy Louis Vuitton SE (OTCQX: LVMUY)
• Direct-to-Consumer (D2C) Brands: Companies that primarily sell directly to consumers online, often leveraging social media heavily for brand building, customer acquisition, and direct sales.
  • Warby Parker Inc. (NYSE: WRBY)
• Digital Marketing & Advertising Agencies: Agencies that manage social media campaigns and digital strategies for their clients, potentially utilizing SCPQ's specialized social commerce solutions.
  • WPP plc (NYSE: WPP)
  • Omnicom Group Inc. (NYSE: OMC)

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• Amazon.com, Inc. (AMZN)

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Stuart Johnson, Chief Executive Officer and Chairman

Stuart Johnson is the Chief Executive Officer and Chairman of Social Commerce Partners Corporation. He is the founder and CEO of Direct Selling News and Direct Selling University, and the owner of Direct Selling Partners, a marketing services firm. With over 40 years of experience, he is a veteran of the direct selling industry, known for advising top CEOs and shaping many influential companies in the channel. Johnson also co-founded SUCCESS Partners and launched Transformation Capital, LLC, an investment banking and business development firm with a focus on the direct selling vertical, providing M&A advisory, equity & debt financing, and institutional advisory services. He has noted the impact of private equity in the direct selling sector.

Harley (Michael) Rollins, Chief Financial Officer and Director

Harley (Michael) Rollins serves as the Chief Financial Officer and a Director of Social Commerce Partners Corporation. He is also a COO and Partner at Calabrese Consulting.

Wayne Moorehead, Director

Wayne Moorehead is a Director of Social Commerce Partners Corporation. He holds the position of Executive Vice President-Marketing & Global Sales at Young Living Essential Oils LC and Chief Brand Officer at Purple Innovation LLC. He is also the Chief Strategy Officer at Direct Selling Acquisition Corp., and Chief Strategist at Hint Creative LLC and CASE Agency. Moorehead has extensive experience in marketing and brand strategy, having worked with companies ranging from startups to Fortune 100 organizations.

Peter Griscom, Director

Peter Griscom is a Director of Social Commerce Partners Corporation. He possesses over a decade of executive leadership experience within the direct selling channel, specializing in consumer goods, manufacturing, sales, and marketing. He previously served as Senior Vice President of Product, Innovation and Supply Chain and Senior Vice President of Global Operations at Mannatech, where he was promoted to Chief Operating Officer in 2023. Griscom also co-founded Van Dyke Acquisitions, an investment firm that acquires distressed or struggling companies, particularly in the consumer goods and manufacturing industries, with a focus on long-term growth. He initially intended to sell companies after turnaround but shifted his strategy towards building sustainable businesses.

Heather Chastain, Director

Heather Chastain is a Director of Social Commerce Partners Corporation. She is the founder and CEO of Bridgehead Collective. Chastain has significantly contributed to the direct selling channel by integrating digital strategies and fostering compliance, and is recognized for driving strategic growth and developing robust compliance strategies within the industry.

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The key risks to Social Commerce Partners (SCPQ), a Special Purpose Acquisition Company (SPAC) targeting the social commerce and direct selling sectors, are primarily centered around its ability to complete a business combination and the inherent challenges within its target industry.

1. Failure to complete a business combination within the mandated timeframe: As a SPAC, Social Commerce Partners' primary business is to identify and complete a merger, acquisition, or similar business combination with one or more private businesses. The company faces significant execution risk in finding an appropriate target within its limited timeframe, typically 24 months from its initial public offering in December 2025. Failure to execute a business combination within this period will result in the mandatory redemption and liquidation of the trust, returning initial investment to shareholders, but potentially without significant gains.
2. Challenges and risks inherent to the social commerce sector: Social Commerce Partners is specifically focused on target businesses within the social commerce and direct selling industries. This sector is subject to various risks, including an over-reliance on social media platforms. Changes in platform algorithms or policies can drastically affect a business's visibility and sales, creating an unstable operating environment. Additionally, rising marketing costs due to the commercialization of social media platforms and issues related to consumer trust and data privacy pose ongoing challenges for businesses in this space.
3. Intense competition for suitable acquisition targets: Social Commerce Partners operates in a competitive landscape, vying with other SPACs and traditional private equity firms for attractive acquisition targets. Given its niche focus on the social commerce industry, identifying a high-quality target that meets its specific criteria within the limited timeframe can be challenging. This competition could lead to difficulties in securing a desirable target or potentially result in overpaying for an acquisition.

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The aggressive expansion of native social commerce features by major social media platforms (e.g., TikTok Shop, Instagram Shopping, Facebook Shops, YouTube Shopping). These platforms are increasingly providing robust, integrated tools for brands and creators to conduct direct sales, live shopping, and product showcases within their apps, including payment processing and logistics support. This trend allows brands to bypass third-party social commerce enablers, potentially making services offered by companies like SCPQ less essential as brands opt for the platforms' direct, often easier-to-integrate, native solutions.

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Social Commerce Partners (SCPQ) is a blank check company, or Special Purpose Acquisition Company (SPAC), formed with the primary purpose of acquiring one or more businesses within the social commerce direct selling industry. Therefore, its addressable market is defined by the size of this industry.

The addressable market for the social commerce direct selling industry is as follows:

• Globally, the social commerce direct selling channel was valued at approximately $224 billion in 2024.
• In the U.S. alone, this channel generated approximately $44.62 billion in sales in 2024.

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Social Commerce Partners (SCPQ), a Special Purpose Acquisition Company (SPAC), completed its initial public offering (IPO) in December 2025, raising $100 million to target businesses primarily within the social commerce and direct selling sectors. As a blank check company in its startup phase, SCPQ currently reports no revenue. Therefore, the expected drivers of future revenue growth for SCPQ over the next 2-3 years are intrinsically linked to its success in identifying and completing a business combination with an operating company.

The key anticipated drivers of future revenue growth for Social Commerce Partners (SCPQ) are:

1. Successful Completion of a Business Combination: The foundational driver for SCPQ's future revenue is the successful identification and execution of a merger or acquisition with an existing private company. As a SPAC, SCPQ's core purpose is to combine with an operating entity, which will then generate revenue. The company has a standard 24-month window to complete this business combination.
2. Growth Trajectory and Market Position of the Acquired Target: SCPQ intends to acquire companies within the social commerce and direct selling industries that have a "proven growth trajectory." This implies that the inherent revenue growth drivers of the acquired company, such as its existing customer base, market share, and product-market fit, will directly translate into SCPQ's future revenue growth post-acquisition.
3. Expansion of Product-Driven and Differentiated Offerings: The SPAC's strategy is to target companies that are "product-driven and customer-focused, with diversified and differentiated offerings." This indicates that revenue growth will be driven by the acquired company's ability to expand its range of products and services, innovate, and maintain distinct competitive advantages in the social commerce and direct selling markets.
4. Leveraging a Digital and Influencer-Led Focus: Social Commerce Partners specifically targets businesses that operate within "influencer-led and community-driven retail models" and have a "digital focus." Future revenue growth will therefore be propelled by the acquired entity's proficiency in digital engagement, its ability to expand through social selling channels, and its effectiveness in utilizing influencer networks to reach and grow its customer base.

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Share Issuance

• Social Commerce Partners completed its Initial Public Offering (IPO) on December 24, 2025, raising an aggregate of $103.5 million.
• The IPO involved the issuance of 10,000,000 public units at $10.00 each, alongside 350,000 private units.
• As of February 3, 2026, there were 10,350,000 Class A ordinary shares and 3,333,333 Class B ordinary shares issued and outstanding.

Inbound Investments

• The company raised $100 million from public investors through its IPO.
• An additional $3.5 million was secured through a private placement from its sponsor, Social Commerce Acquisition Partners, LLC, and BTIG.
• AQR Capital Management and its affiliates reported a 5.63% beneficial stake in Social Commerce Partners Corp, holding 582,505 Class A ordinary shares as of December 31, 2025.