Vinco Ventures completes the acquisition of AdRizer, a
AdRizer to fuel advertising for Lomotif
FAIRPORT, NY., Feb. 16 12, 2022 (GLOBE NEWSWIRE) — Vinco Ventures, Inc. (Nasdaq: BBIG) (“Vinco”) today announced that it has completed the previously announced acquisition of AdRizer LLC (“AdRizer”), a technology solutions provider that automate the use of artificial intelligence for digital advertising analytics and programmatic media buying, for consideration consisting of $38 million in cash paid at closing and up to 10 million common shares of Vinco issuable on January 1, 2024. ZVV Media Partners, LLC (“ZVV”), a joint venture of Vinco and Zash Global Media and Entertainment Corporation (“ZASH”), and ZASH have assigned their rights to acquire AdRizer to Vinco in connection with the transaction. Following the acquisition, AdRizer is now a wholly owned subsidiary of Vinco.
Ken Bond, Founder and CEO of AdRizer, will continue as CEO of AdRizer under a three-year employment contract with AdRizer.
“With the acquisition of AdRizer completed, we are now focused on deploying AdRizer’s technology platform to monetize the content creation and streaming capabilities of the Lomotif short video app through digital advertising,” said Lisa King, CEO of Vinco.
Ted Farnsworth, President of ZASH, added, “We are excited to move forward with our plans to build a monetization platform on Lomotif, and we are extremely excited about the combined future of Vinco, AdRizer and Lomotif.
AdRizer’s technology platform, Cortex, provides real-time analytics for optimizing marketing spend and revenue to deliver streamlined ad campaign creation for large-scale advertisers. AdRizer’s platform integrates with various traffic partners including Google, MSN, Instagram, Facebook, Twitter and others. AdRizer’s technology platform for publishers and advertisers helps them maximize the return on their digital advertising investment. This includes display and video ads that can be viewed on a variety of devices, including laptops and mobile devices, allowing advertisers to download their ads seamlessly. AdRizer plans to develop an advertising platform in the Lomotif short video app to allow advertisers to more effectively engage with the Lomotif platform and its users. In building its advertising platform for Lomotif, AdRizer will seek to maximize the effectiveness of its advertising strategies in light of current data privacy safeguards.
Vinco’s strategy to integrate the AdRizer platform with Lomotif includes integrating the full-service content monetization platform of Honey Badger, a Vinco subsidiary that focuses on brand-specific messaging and design of complete digital campaigns, from creation to monetization.
About Vinco Ventures
Vinco Ventures, Inc. (Nasdaq: BBIG) focuses 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, owns an 80% interest in Lomotif Private Limited. For more information, visit Investors.vincoventures.com.
AdRizer LLC is a provider of technology solutions that automate the use of artificial intelligence for digital advertising analytics and programmatic media buying, enabling publishers and agencies to place digital advertisements in real time and effectively manage their advertising investments with a prudent approach.
Lomotif is a global social media video sharing platform that democratizes video creation. Home to creators since 2014, Lomotif has grown globally as a grassroots social community with dedicated users in Asia, Latin America, and the United States. Lomotif is 80% owned by ZVV Media Partners, LLC, a joint venture of ZASH Global Media and Entertainment Corporation and Vinco Ventures, Inc. (Nasdaq: BBIG). Download the Lomotif app from Apple and Google stores or visit www.lomotive.com for more information.
Forward-Looking Statements and Disclaimers
This press release contains “forward-looking statements” as defined in the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, which are based on beliefs and information currently available to Vinco, as well as estimates and assumptions made by Vinco’s management. These statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this press release, the words “estimate”, “expect”, “intend”, “believe”, “plan”, “anticipate”, “project” and other words or the negative of these terms and similar expressions as they relate to the applicable company identify forward-looking statements. These statements reflect the current beliefs of Vinco’s management with respect to future events and are subject to risks, uncertainties, assumptions and other factors relating to Vinco and its consolidated subsidiaries and variable interest entities, including Lomotif , AdRizer and Honey Badger, and their respective industries. , financial condition, operations and results of operations. These factors include, but are not limited to, uncertainties about the expected benefits of Vinco’s investments in Lomotif, AdRizer and Honey Badger and related growth initiatives, including the integration of the AdRizer platform with Lomotif and synergies between AdRizer , Lomotif and Honey Badger, and others other risks and uncertainties more fully described in Vinco’s filings with or provided to the Securities and Exchange Commission, including the risk factors discussed in Vinco’s Annual Report on Form 10-K for the period ended December 31, 2020 filed April 15, 2021, and Vinco’s Quarterly Reports on Form 10-Q filed thereafter, including Quarterly Report on Form 10-Q for the quarter ended September 30 2021 filed November 22, 2021, which are available at www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results could differ materially from those anticipated, believed, estimated, expected, forecast or planned. Although Vinco believes that the expectations reflected in the forward-looking statements are reasonable, Vinco cannot guarantee future results, performance or achievements. Except as required by applicable law, including United States securities laws, Vinco does not intend to update forward-looking statements to conform them to actual results.