Vinco Ventures' JV company ZVV Media completes acquisition of Lomotif

Lomotif will be rebranded as LoMo post the acquisition

e4m by exchange4media Staff
Updated: Jul 27, 2021 11:30 AM
lomotif

Vinco Ventures has completed the acquisition of Lomotif Private Limited, which owns the Lomotif short-form video platform, through their joint venture entity ZVV Media. This acquisition makes ZVV Media, a subsidiary of Vinco Ventures.
LoMo will be Lomotif’s new name and will be rebranded and re-positioned in a new North American marketing campaign. Paul Yang, the founder and CEO of Lomotif, has entered into a five-year employment agreement as well as being named Chairman of the Board of Lomotif.

The addition of Lomotif enhances Vinco Ventures and ZVV Media’s offering by adding a short-form video component to its overall ecosystem as the company continues to grow a global content-centric technology company.

Lomotif is one of the fastest-growing video-sharing social networking platforms in its category over the last three years, with 225+ million installations of the Lomotif app globally in over 200 countries in 300+ languages. According to outside tracking services, over 300 million videos are watched on the platform per month and over 10 billion atomic clips (User Generated Content (UGC)) have been used to create more than 750 million videos on the platform since its launch.

Current global expansion is underway in India, the world’s second-largest market, and a country where competitor TikTok is banned. With the number of social media users in India currently over 350 million, and social network users in the country expected to be nearly 450 million in 2023, the push into India is a major focus for Lomotif.

Throughout Asia, Europe and South America, Lomotif has increased its average monthly community by over 400 per cent in this time span. The platform’s dominant, global user traction and reach demonstrates the massive untapped value and Lomotif’s potential growth.

Lomotif is one of the top short-form video platforms in the world with hundreds of millions of installs around the world and tens of millions of monthly users (Sensor Tower data, June 2021) and over 31 million on-platform monthly active users (MAUs).

The third-party independent valuation shows the combined companies have a valuation of over $5 billion as of June 30 according to recent private financing comparable valuation by Gemini Valuation Services. Lomotif currently has content deals with Instagram, Facebook, and Snapchat.

The acquisition of Lomotif by ZVV Media was led by Ted Farnsworth.  Investment bank BTIG represents ZASH on the buy-side of transactions. Palladium Capital Group, LLC served as advisor on the capital raise to fund the transaction. CEO Christopher Ferguson, CSO Brian McFadden, and CFO Brett Vroman led the Vinco Ventures team. Vinco was represented by Joseph Lucosky, Adele Hogan and the team at Lucosky Brookman LLP law firm.  The media and entertainment team led by Tom K. Ara at law firm DLA Piper LLP negotiated and advised ZASH on the Lomotif acquisition deal. Cooley LLP represented Lomotif.

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