Vinco Ventures completes the purchase of all ZVV media equity
of all ZVV Media Partners. ZVV is the joint venture between Vinco
Ventures and Zash Global Media.
ROCHESTER, N.Y., Dec. 19, 2022 /PRNewswire/ -- Vinco Ventures
announces the purchase of all ZVV equity interest of ZVV Media
Partners, a joint venture with ZASH Global Media, including TikTok
rival Lomotif.
It's the latest accomplishment of the Board of Directors in
their successful and accelerated strategy to build the company's
content-driven ecosystem with existing synergies Lomotif, AdRizer,
Magnifi U, and Honey
Badger.
Lomotif was recently named a top 12 best TikTok Alternative for
sharing short viral videos. Additionally, Lomotif was ranked #3 on
begindot.com's Top TikTok Alternatives.
https://www.begindot.com/best-tiktok-alternatives/
Vinco's closing of the JV and ZASH portfolio comes amid
governmental crackdowns and political concerns over TikTok's
china-based company.
The Senate recently passed legislation to ban TikTok from all US
government devices after the No TikTok on Government Devices Act
was approved by unanimous consent.
"Vinco Ventures leadership is extremely confident in its
fast-tracked and collaborative mission to make the company a major
player in the media and entertainment space. This is another step
towards that goal and the company will continue to identify and pay
close attention to brands that can complement and scale
operations," Vinco Ventures spokesperson Javan Khazali said.
Through the ZVV Media Partners equity purchase, Vinco expands
its portfolio with the exciting addition of various in-house
production TV series.
About Vinco
Ventures
Vinco Ventures (Nasdaq: BBIG) is focused on the development of
digital media and content technologies. Vinco Ventures'
consolidated subsidiary, ZVV Media Partners, LLC, a joint venture
of Vinco Ventures and ZASH Global Media and Entertainment
Corporation, has an 80% ownership interest in Lomotif Private
Limited. Vinco Ventures owns a 100% ownership interest in AdRizer,
LLC. For more information, please
visit investors.vincoventures.com.
Forward-Looking Statements and
Disclaimers
This press release contains "forward-looking statements" as
defined in the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995, which are based upon
beliefs of, and information currently available to, Vinco Ventures'
management as well as estimates and assumptions made by Vinco
Ventures' 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 the applicable company or its management identify
forward-looking statements. Such statements reflect the current
view of Vinco Ventures with respect to future events and are
subject to risks, uncertainties, assumptions and other factors
relating to Vinco Ventures and its subsidiaries and consolidated
variable interest entities including Lomotif, their industry,
financial condition, operations and results of operations. Such
factors include, but are not limited to, the expected risks and
benefits from the proposed increase in Vinco Ventures' authorized
shares as described in our proxy statement, Vinco Ventures'
investments in ZVV Media Partners, LLC, Lomotif Private Limited,
PZAJ Holdings, LLC and related growth initiatives and strategies
such as the blended media, cross-platform distribution strategy,
the expected benefits of Lomotif's participation in and sponsorship
of live entertainment events, the expected benefits from
acquisition of AdRizer and planned integration of the AdRizer
technology with Lomotif and Honey
Badger and synergies between AdRizer, Lomotif and
Honey Badger, the regulatory risks
with the NFT and blockchain business lines and such other risks and
uncertainties described more fully in documents filed by Vinco
Ventures and Cryptyde with or furnished to the Securities and
Exchange Commission, including the risk factors discussed in Vinco
Ventures' Annual Report on Form 10-K for the period ended
December 31, 2021 filed on
April 15, 2022 which is available at
www.sec.gov. 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 we believe that
the expectations reflected in the forward-looking statements are
reasonable, we cannot guarantee future results, performance, or
achievements. Except as required by applicable law, including the
securities laws of the United
States, we do not intend to update any of the
forward-looking statements to conform these statements to actual
results.
For further information, please contact:
Media Contact
Rogers & Cowan PMK
Jason.Magner@rogersandcowanpmk.com
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