Singapore-based video sharing platform Lomotif set to enter India
Lomotif, which is seen as a TikTok rival, was recently acquired by Zash Global Media
The crowded Indian short-video space will soon have a new entrant. Video-sharing social networking platform Lomotif is set to enter India. Lomotif, which is seen as a TikTok rival, was recently acquired by Zash Global Media.
“We will be putting a substantial amount of money towards the India market. Now it's time for the world to know, in a much bigger way, about our technology. That's what's exciting for us," Zash co-founder Ted Farnsworth told Economic Times.
The platform will give global access to Indian content creators. “We have always held…that we don't need TikTok or Kuaishou to be banned in order for us to thrive, because we definitely see ourselves operating in a specific lane in this very, very huge landscape," Lomotif founder Paul Yang told the business daily.
Vinco Ventures and Zash Global Media and Entertainment Corporation have entered into a definitive agreement to acquire a majority controlling interest in Lomotif, the Singapore-based top video-sharing social networking platform and budding rival to TikTok, and Chinese video-sharing mobile app Kuaishou.
The company co-founded by video enthusiast Paul Yang in 2014 has been granted three technology patents uniquely focused on empowering creators to share and watch short videos with ease through remix and collaboration.
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.
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