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The Lomotif platform is one of the best global social media video sharing apps today
Definitive agreement gives ZASH a majority controlling interest
BETHLEHEM, PA. and 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 chairman of MoviePass, first investor of Musical.ly (now TikTok) Jaeson Ma, and first visionary and board member of Triller, Vincent butta, has entered into a definitive agreement to acquire a majority stake in Lomotif Private Limited (“Lomotif“), the Singapore– the best video-sharing social networking platform 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 expected to occur concurrently with the closing of the merger and business combination of ZASH with Vinco Ventures, Inc. (“Vinco“), which had previously been announced in a joint press release January 2021. The closing of the acquisition of Lomotif is subject to certain customary closing conditions as described in the definitive acquisition agreement.
Following the merger between ZASH and Vinco, ZASH will become a public company and majority shareholder of Vinco, making Lomotif one of the world’s leading pure play video sharing social media platforms, owned by a company listed American, competing with TikTok and Kuaishou in space.
ZASH believes that Lomotif has been one of the fastest growing video sharing social networking platforms in its category over the past three years and in Asia, Europe and South America, Lomotif has grown its average monthly community by over 400% during that time. Historically, over 10 billion User Generated Content (UGC) clips have been used to create more than 740 million videos on the platform since its launch.
The following additional data further shows the traction and reach of the dominant global users of the Lomotif platform which ZASH says demonstrates massive untapped value and potential growth for Lomotif:
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Over 10 billion atomic video clips of Lomotif
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Over 740 million super music videos created to date
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225 million installations worldwide (in over 200 countries in over 300 languages)
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Over 210 million lifelong communities
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Over 160 million lifetime viewers (iOS / Android)
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Over 120 million creators for life
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Over 300 million videos watched on the platform per month
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Over 90 minutes of engagement on average with primary users
Founder and CEO of Lomotif, Paul Yang |, will continue to lead Lomotif following the acquisition. “With the partnerships that ZASH has put in place and planned,” said Yang, “we are a natural fit. As an emerging player in the creation of user-generated videos, we are excited to be a part of ZASH’s overall content and distribution plans and strategies. look forward to accelerating the growth and adoption of Lomotif around the world. “
“Lomotif is the key element of ZASH’s strategy to merge the best media, entertainment and content technology companies globally,” said Ted farnsworth. “The platform is fun and engaging, and its functionality is unique and innovative. We look forward to expanding the platform into the US market and the rest of the world.”
“Having had the experience of building another social media video sharing platform, it quickly became apparent that Lomotif’s patented technology for video mixing and editing is second to none.” mentionned Vince butta. “ZASH will focus Lomotif on an advertising model going forward, as well as other means of monetization over the coming months.”
“Lomotif is a global platform with huge success in Asia and Latin America and with ZASH he will replicate that success in the US and other markets, ”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 platform. worldwide distribution. “
Investment bank BTIG represented ZASH on the buy side of the transaction. Palladium Capital acted as an advisor during the fundraising to finance the transaction. The media and entertainment team led by Tom K. Ara and comprising Patrick anding at the DLA law firm, Piper LLP negotiated and advised ZASH on the Lomotif deal and also advises ZASH on its merger with Vinco. Cooley LLP represented Lomotif in the transaction.
For more information on ZASH’s proposed merger with Vinco, please see the press release (https://investors.vincoventures.com/press-releases/detail/78/musical-ly-tiktok-triller-and-moviepass -innovators-unite) and the Vinco 8-K filed on 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 disrupt the media and entertainment industry as we know it today. The ZASH team is run by a group of smart, if not a little cheeky, consummate disruptors. ZASH believes their management team has an exceptional and unmatched ability to pivot because their knowledge and experience is constant and unyielding. For more information on ZASH Global Media and Entertainment Corporation, please visit the ZASH website at www.zash.global.
About Lomotif
Lomotif is the first social networking video sharing platform that democratizes video creation. Since the company was co-founded by a video enthusiast Paul Yang | in 2014, Lomotif obtained three technology patents aimed solely at making it easy for creators to share and watch short videos through remixing and collaboration. Yang’s bold vision is to create the world’s largest video vocabulary to accelerate the world’s transition to the first video expression. Lomotif, available at Apple and Google stores, is a revolutionary downloadable app for hip hop, rap and urban culture across United States and Latin America. Lomotif is one of five partners selected by Snapchat for a two-way integration for posting stories between the two platforms. For more information on Lomotif Private Limited, please visit Lomotif’s website at www.lomotif.com.
About Vinco Ventures, Inc.
Vinco Ventures, Inc. (NASDAQ: BBIG) is a merger and acquisition company focused on digital commerce and consumer brands. De Vinco’s BIG (Buy. Innovate. Grow.) Strategy will seek out acquisition opportunities that are ready to scale and expand those acquisitions through targeted traffic and content campaigns. For more information, please consult Vinco’s investor presentation or visit Investors.vincoventures.com.
Forward-looking statements and warnings
This press release contains “forward-looking” statements within the meaning of federal securities laws. Forward-looking statements include, but are not limited to, statements concerning or involving future financial performance, the expected performance of products and functionality of ZASH products or products incorporating ZASH products, as well as industry trends and growth opportunities affecting ZASH. . This information is based on the beliefs and information currently available to the management of ZASH as well as on the estimates and assumptions made by the management of ZASH. These statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this presentation, the words “estimate”, “expect”, “intend”, “believe,” “plan”, “anticipate”, “project” and other words or the negative of these terms and similar expressions with regard to ZASH or ZASH Management identifies forward-looking statements. These forward-looking statements include statements regarding the potential business synergies resulting from the acquisition of Lomotif by ZASH and the proposed merger of ZASH with Vinco, the potential market for ZASH and Lomotif’s product offerings, customer adoption and the use of the Lomotif platform, and ZASH’s ability to monetize product offerings, including the Lomotif platform. These statements and other forward-looking statements in this press release reflect ZASH’s current view with respect to future events and are subject to risks, uncertainties, assumptions and other factors relating to industries, operations and results. operation of ZASH and Lomotif and any business that may be acquired by ZASH. E or more of these risks or uncertainties materialize, or the underlying assumptions turn out to be incorrect, actual results may differ materially from those anticipated, assumed, estimated, expected, expected or anticipated. 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 assumes no obligation to update any forward-looking statements contained in this release as a result of new information, future events or otherwise.
Media contacts
Dennis dembia / R and CPMK
[email protected]
+1 310 854 8114
Jason magner / R and CPMK
[email protected]
+1 310 854 8128
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