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.
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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.
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.
SOURCE: PR Newswire
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