Vinco Ventures, Inc. (NASDAQ: BBIG) has always kept its investors hooked for updates. Today, the company announced that “it has completed the previously announced acquisition of AdRizer LLC, a provider of technology solutions that automate the use of artificial intelligence for digital advertising analytics and programmatic media buying.” The acquisition was made for “$38 million in cash paid at closing and up to 10 million shares “ Vinco common stock issuable on January 1, 2024. In line with the aforementioned deal, ZVV Media Partners, LLC, a joint venture between Vinco and Zash Global Media and Entertainment Corporation, and ZASH surrendered their rights to acquire AdRizer to Vinco.
AdRizer is currently “a wholly-owned subsidiary of Vinco” as a result of the acquisition. According to a three-year employment deal with AdRizer, Ken Bond, the company’s creator and CEO, will stay on as CEO.
Vinco’s plan for combining the AdRizer platform with Lomotif involves integrating Honey Badger’s full-service content monetization platform, which focuses on brand-specific messaging and building comprehensive digital campaigns from start to finish.
“With the AdRizer acquisition complete, we are now focused on deploying AdRizer’s technology platform to monetize the content creation and streaming capabilities of the Lomotif short form video app through digital advertising.”Lisa King, CEO of Vinco Ventures
BBIG recent updates
Vinco Ventures’ investors were excited as as the much awaited Cryptyde (NASDAQ* – TYDE) launch inched closer. On February 10, 2022, the company filed a ‘Form D’ to the SEC (UNITED STATES SECURITIES AND EXCHANGE COMMISSION) to register their first sale of Cryptyde stock.
The company and ZASH Global Media and Entertainment announced on February 10, 2022 that Lomotif would live stream “Shaq’s Fun House Presented by FTX” on LoMoTV via their joint venture, ZVV Media Partners. The BBIG stock had recovered post the announcement to trade at $3.7, representing a gain of 4.4%. It was down 6% prior to this announcement.
The BBIG stock has been maintaining a strong ‘green’ streak for quite a considerable amount of time now. The stock had gained by 3.12% and was priced at $3.64 (up by 0.11 points) at 7:34 a.m. ET in today’s pre-market trading session. The market capitalization of the stock stood at $479.6 million. Yesterday, the stock gained by a massive 13.50% and closed at $3.53 (up by 0.42 points). The share volume traded for the BBIG stock yesterday was 33,150,946, closer to the average share volume of 34,878,109.