Singapore, Feb 23 (Ians) Zash Global Media and Entertainment Corp. on Tuesday said it has inked a deal to acquire a majority controlling interest in Lomotif, a Singapore-based video-sharing social networking platform and budding rival to TikTok.
The financial terms of the deal were not disclosed.
Zash is backed by former MoviePass Chairman Ted Farnsworth, early Musical.ly investor Jaeson Ma, and early Triller visionary Vincent Butta.
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. which was previously announced in January, the company said.
The closing of the Lomotif acquisition is subject to certain customary conditions, it added.
Upon completion of the merger between Zash and Vinco, Zash will become a public company and controlling shareholder of Vinco, making Lomotif a video-sharing social networking platform to be owned by a US publicly traded company,...
The financial terms of the deal were not disclosed.
Zash is backed by former MoviePass Chairman Ted Farnsworth, early Musical.ly investor Jaeson Ma, and early Triller visionary Vincent Butta.
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. which was previously announced in January, the company said.
The closing of the Lomotif acquisition is subject to certain customary conditions, it added.
Upon completion of the merger between Zash and Vinco, Zash will become a public company and controlling shareholder of Vinco, making Lomotif a video-sharing social networking platform to be owned by a US publicly traded company,...
- 2/23/2021
- by Glamsham Bureau
- GlamSham
IMDb.com, Inc. takes no responsibility for the content or accuracy of the above news articles, Tweets, or blog posts. This content is published for the entertainment of our users only. The news articles, Tweets, and blog posts do not represent IMDb's opinions nor can we guarantee that the reporting therein is completely factual. Please visit the source responsible for the item in question to report any concerns you may have regarding content or accuracy.