The Lomotif platform is one of the best applications for sharing videos on social networks today
Final agreement gives ZASH a controlling majority interest
BELÉN, Pa. Y SINGAPORE, February 23, 2021 / PRNewswire / – Vinco Ventures, Inc. (NASDAQ: BBIG) – ZASH Global Media and Entertainment Corporation (“ZASH“), the entertainment industry disruptor led by the co-founders Ted farnsworth, financier and former president of MoviePass, first investor in Musical.ly (now TikTok) Jaeson Ma, and Triller’s first visionary and board member, Vincent Butta, has entered into a definitive agreement to acquire a controlling majority stake in Lomotif Private Limited (“Lomotif“), the Singapore-Based on the leading social media platform for video sharing and budding rival of TikTok and Kuaishou (1024.HK on the Hong Kong Stock Exchange). The closing of the acquisition of Lomotif by ZASH is scheduled to occur concurrently with the closing of the merger and business combination of ZASH with Vinco Ventures, Inc. (“Vinco“), which was previously announced in a joint press release on January 2021. The closing of the Lomotif acquisition is subject to certain customary closing conditions as described in the definitive acquisition agreement.
Upon completion of the merger between ZASH and Vinco, ZASH will become a public company and majority shareholder of Vinco, making Lomotif one of the leading global social media platforms for video sharing, owned by a US company that is publicly traded, competing with TikTok and Kuaishou in the space.
ZASH believes that Lomotif is one of the fastest growing video sharing social media platforms in its category for the past three years and in Asia, Europe Y South America, Lomotif has grown its average monthly community by more than 400 percent in this time span. Historically, more than 10 billion atomic clips (User Generated Content (UGC)) have been used to create more than 740 million videos on the platform since its launch.
The following additional data further illustrates the traction and reach of the dominant global users of the Lomotif platform, which ZASH says demonstrates enormous untapped value and potential growth for Lomotif:
More than 10 billion atomic video clips from Lomotif
Over 740 million video super clips created to date
More than 225 million installations worldwide (in more than 200 countries in more than 300 languages)
210+ million community lifetime
More than 160 million viewers for life (iOS / Android)
More than 120 million creators for life
More than 300 million videos viewed on the platform per month
More than 90 minutes of participation on average with the main users
Founder and CEO of Lomotif, Paul yang, will continue to lead Lomotif once the acquisition is completed. “With the partnerships that ZASH has established and planned,” Yang said, “we are a perfect fit. As an emerging player in user-generated video creation, we are excited to be part of the overall content and distribution plans and strategies of ZASH looks forward to accelerating the growth and adoption of Lomotif around the world. “
“Lomotif is the linchpin of the ZASH strategy to merge the best technology companies focused on content, entertainment and media globally,” he said Ted farnsworth. “The platform is fun and engaging and its features are unique and innovative. We look forward to expanding the platform in the US market and the rest of the world.”
“Having had experience building another social media platform for video sharing, it quickly became apparent that Lomotif’s proprietary technology for mixing and editing videos is second to none.” saying Vince butta. “ZASH will focus Lomotif on an advertising model in the future as well as other means of monetization in the coming months.”
“Lomotif is a global platform with a large following in Asia Y Latin America and together with ZASH, it will replicate that success in the US and other markets, “he said Jaeson Ma. “In today’s world of mass consumption of short form content, we see the addition of Lomotif to the ZASH family as an incredible opportunity to leverage our content in all formats and expand our distribution platform around the world.”
Investment bank BTIG represented ZASH on the buy side of the transaction. Palladium Capital acted as advisor on the capital increase to finance the transaction. The media and entertainment team led by Tom K. Ara and including Patrick Anding at the law firm DLA Piper LLP negotiated and advised ZASH on the Lomotif settlement and are also advising ZASH on its merger with Vinco. Cooley LLP represented Lomotif in the transaction.
For more information on ZASH’s proposed merger with Vinco, see the press release (https://investors.vincoventures.com/press-releases/detail/78/musical-ly-tiktok-triller-and-moviepass-innovators -unite) and Vinco’s 8-K featured January 19, 2021 (https://sec.report/Document/0001493152-21-001470/).
About ZASH Global Media and Entertainment Corporation
ZASH Global Media and Entertainment Corporation is an evolving network of synergistic companies working together to revolutionize the media and entertainment industry as we know it today. The ZASH team is led by a group of consummate, clever, if not somewhat brash disruptors. ZASH believes that its management team has an exceptional and unmatched ability to pivot because their knowledge and experience are steadfast and uncompromising. For additional information on ZASH Global Media and Entertainment Corporation, visit the ZASH website at www.zash.global.
Lomotif is the leading social media platform for video sharing that is democratizing video creation. Since the company was co-founded by video enthusiasts Paul yang In 2014, Lomotif received three technology patents focused exclusively on empowering creators to easily share and view short videos through remixing and collaboration. Yang’s bold vision is to build the world’s largest video vocabulary to accelerate the world’s transition to video-first expression. Lomotif, available on Apple and Google stores, is an innovative downloadable app for hip hop, rap, and urban culture throughout the United States Y Latin America. Lomotif is one of five partners selected by Snapchat for a two-way integration to post stories between the two platforms. For additional information on Lomotif Private Limited, please visit Lomotif’s website at www.lomotif.com.
About Vinco Ventures, Inc.
Vinco Ventures, Inc. (NASDAQ: BBIG) is an M&A company focused on digital commerce and consumer brands. Vinco’s BIG (Buy. Innovate. Grow.) Strategy will seek acquisition opportunities that are poised to scale and grow such acquisitions through targeted traffic and content campaigns. For more information, see Vinco’s investor presentation or visit Investors.vincoventures.com.
Forward-looking statements and disclaimers
This press release contains “forward-looking” statements within the meaning of federal securities laws. Forward-looking statements include, but are not limited to, statements relating to or involving future financial performance, anticipated product performance and functionality of ZASH products or products incorporating ZASH products, and industry trends and opportunities. growth rates affecting ZASH. Such information is based on the beliefs and information currently available to the ZASH administration, as well as the estimates and assumptions made by the ZASH administration. These statements can be identified by the fact that they are not strictly related to current or historical facts. When the words “estimate”, “expect”, “pretend,” believe, “plan”, “anticipate”, “project” and other words or the negative of these similar terms and expressions in relation to ZASH or ZASH Management identifies forward-looking statements. These forward-looking statements include statements regarding potential business synergies resulting from ZASH’s acquisition of Lomotif and ZASH’s proposed merger with Vinco, the potential market for ZASH and Lomotif product offerings, customer adoption, and usage. of the Lomotif platform and ZASH’s ability to monetize product offerings, including the Lomotif platform. Such statements and other forward-looking statements in this press release reflect ZASH’s current views regarding future events and are subject to risks, uncertainties, assumptions and other factors relating to the industries, operations and results of operations of ZASH and Lomotif and any business that can be acquired by ZASH. If more of these risks or uncertainties materialize, or the underlying assumptions are incorrect, actual results may differ materially from those anticipated, believed, estimated, expected, anticipated, or planned. Although ZASH believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, performance or achievements. All forward-looking statements are qualified in their entirety by this cautionary statement. ZASH is providing this information as of the date of this release and does not undertake any obligation to update any forward-looking statements contained in this release as a result of new information, future events, or otherwise.
Dennis Dembia / R & CPMK
+1 310 854 8114
Jason magner / R & CPMK
+1 310 854 8128
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