Lomotif Platform is One of the Top Worldwide Social
Video-Sharing Apps Today
Definitive Agreement Gives ZASH Majority Controlling
Interest
BETHLEHEM, Pa. and SINGAPORE, Feb. 23,
2021 /PRNewswire/ -- Vinco Ventures, Inc.
(NASDAQ:BBIG) -- ZASH Global Media and Entertainment
Corporation ("ZASH"), the entertainment industry disrupter
led by co-founders Ted Farnsworth,
financier and former MoviePass Chairman, early Musical.ly (now
TikTok) investor Jaeson Ma, and
early Triller visionary and board member, Vincent Butta, has entered into a definitive
agreement to acquire a majority controlling interest in Lomotif
Private Limited ("Lomotif"), the Singapore-based top video-sharing social
networking platform and budding rival to TikTok, and
Kuaishou (1024.HK on the Hong Kong Stock Exchange). The
closing of the Lomotif acquisition by ZASH is scheduled to occur
concurrently with the closing of ZASH's merger and business
combination with Vinco Ventures, Inc. ("Vinco"), which was
previously announced in a joint press release in January 2021. The closing of the Lomotif
acquisition is subject to certain customary conditions to closing
as described in the definitive acquisition agreement.
Upon completion of the merger between ZASH and Vinco, ZASH will
become a public company and controlling shareholder of Vinco,
making Lomotif one of the top global, pure play video-sharing
social networking platforms to be owned by a US publicly traded
company, competing with TikTok and Kuaishou in the space.
ZASH believes that Lomotif is one of the fastest growing
video-sharing social networking platforms in its category over the
last three years and in Asia,
Europe and South America, Lomotif has increased its
average monthly community by over 400 percent in this time span.
Historically over 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 shows the Lomotif
platform's dominant, global user traction and reach that ZASH
believes demonstrates massive untapped value and Lomotif's
potential growth:
- 10+ billion Lomotif video atomic clips
- 740+ million video super-clips created to date
- 225+ million installations globally (in 200+ countries in 300+
languages)
- 210+ million lifetime community
- 160+ million total lifetime viewers (iOS/Android)
- 120+ million total lifetime creators
- 300+ million videos watched on the platform per month
- 90+ minutes of engagement on average with core users
Lomotif Founder and Chief Executive Officer, Paul Yang, will continue to lead Lomotif upon
completion of the acquisition. "With the partnerships ZASH has in
place and has planned," said Yang, "we're a natural fit. As an
emerging player in user generated video creation, we are excited to
be part of ZASH's overall content and distribution plans and
strategies and are looking forward to accelerating growth and
adoption of Lomotif worldwide."
"Lomotif is the key piece of the ZASH strategy to merge the
best-in-class media, entertainment and content-focused technology
companies globally," 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 around the rest of the
world."
"Having had experience building another video-sharing social
networking platform, it became quickly apparent that Lomotif's
patented technology for mixing and video editing is second to
none." said Vince Butta. "ZASH will
focus Lomotif on an advertising model going forward, as well as
other means of monetization over the next several months."
"Lomotif is a global platform with tremendous following in
Asia and Latin America and together with ZASH, it 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 Lomotif's addition to the
ZASH family as an incredible opportunity to leverage our content in
all formats and broaden our distribution platform worldwide."
Investment bank BTIG represented ZASH on the buy side of the
transaction. Palladium Capital served as advisor on the capital
raise to fund the transaction. The media and entertainment team led
by Tom K. Ara and including Patrick
Anding at law firm DLA Piper LLP negotiated and advised
ZASH on the Lomotif deal and are also advising ZASH in
its merger with Vinco. Cooley LLP represented Lomotif in the
transaction.
For more information about 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 Vinco's 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 synergetic companies working together to disrupt the
media and entertainment industry as we know it today. The ZASH team
is managed by a group of smart, if not somewhat brazen, consummate
disrupters. ZASH believes its management team has an exceptional
and unparalleled ability to pivot because their knowledge and
experience is steadfast and unyielding. For additional information
about ZASH Global Media and Entertainment Corporation, please visit
ZASH's website at www.zash.global.
About Lomotif
Lomotif is the leading video-sharing social networking platform
that is democratizing video creation. Since the company was
co-founded by video enthusiast Paul
Yang in 2014, Lomotif has been granted three technology
patents uniquely focused on empowering creators to share and watch
short videos with ease through remix 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 in the Apple and Google stores, is a
breakthrough downloadable app for hip hop, rap, and urban culture
across the United States and
Latin America. Lomotif is one of
five partners selected by Snapchat for a bi-directional integration
for posting stories between the two platforms. For additional
information about Lomotif Private Limited, please visit Lomotif's
website at www.lomotif.com.
About Vinco Ventures, Inc.
Vinco Ventures, Inc. (NASDAQ: BBIG) is a mergers and acquisition
company focused on digital commerce and consumer brands. Vinco's
B.I.G. (Buy. Innovate. Grow.) strategy will seek out acquisition
opportunities that are poised for scale and grow said acquisitions
through targeted traffic and content campaigns. For more
information, please view 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, among others, statements concerning or implying future
financial performance, anticipated product performance and
functionality of ZASH's products or products incorporating ZASH's
products, and industry trends and growth opportunities affecting
ZASH. Such information are based upon beliefs of, and
information currently available to, ZASH management as well as
estimates and assumptions made by ZASH's management. These
statements can be identified by the fact that they do not relate
strictly to historic or current facts. When used in this
presentation the words "estimate," "expect," intend," believe,"
plan," "anticipate," "projected" and other words or the negative of
these terms and similar expressions as they relate to ZASH or
ZASH's management identify forward-looking statements. These
forward-looking statements include statements regarding the
potential business synergies resulting from ZASH's acquisition of
Lomotif and ZASH's proposed merger with Vinco, the potential market
for ZASH's and Lomotif's product offerings, customer adoption and
use of the Lomotif platform, and the ability of ZASH to monetize
product offerings, including the Lomotif platform. Such
statements and the other forward-looking statements in this press
release reflect the current view of ZASH with respect to future
events and are subject to risks, uncertainties, assumptions and
other factors relating to ZASH and Lomotif's industries, operations
and results of operations and any businesses that may be acquired
by ZASH. Should one or more of these risks or uncertainties
materialize, or the underlying assumptions prove incorrect, actual
results may differ significantly from those anticipated, believed,
estimated, expected, intended, 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.
Media Contacts
Dennis Dembia / R&CPMK
Dennis.dembia@rogersandcowanpmk.com
+1 310 854 8114
Jason Magner / R&CPMK
Jason.magner@rogersandcowanpmk.com
+1 310 854 8128
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