$Vinco Ventures, Inc.(BBIG)$Short squeeze continues premarket next Monday to >10 🚀 

Summary

BBIG and ZASH completed acquisition of Lomotif.

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.

Lomotif And Universal Music Group Announce Worldwide Agreement.

Known as TikTok competitor.

Some key highlights of the Lomotif acquisition by BBIG:

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");

LoMo will be Lomotif's new name and will be rebranded and re-positioned in a new North American marketing campaign;

Third-party independent valuation shows the combined companies have a valuation over $5 billion as of June 30 according to recent private financing comparable valuation by Gemini Valuation Services;

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;

Lomotif currently has content deals with Instagram, Facebook, and Snapchat.

On July 26, 2021, Lomotif And Universal Music Group Announced a Worldwide Agreement, enabling Lomotif Users to Creatively Tap into Universal Music's Content for their Videos .