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BBIG Stock: 10 Things to Know About TikTok Rival Vinco Ventures Amid the Merger News

Vinco Ventures (NASDAQ:BBIG) is gearing up for a merger that will set it up as a rival to TikTok and shares of BBIG stock are dipping lower on Tuesday.

Image of a phone on a table with the Lomotif app up.
Source: Postmodern Studio / Shutterstock.com

Here’s everything potential investors need to know about the company and its upcoming merger plans.

  • Starting off, Vinco Ventures is a “mergers and acquisition company focused on digital commerce and consumer brands.”
  • The company announced earlier this year that it plans to merge with ZASH Global Media and Entertainment.
  • This will have ZASH becoming a publicly-traded company as the majority shareholder of BBIG stock.
  • Adding to this is news today that ZASH plans to acquire a majority stake in Lomotif.
  • Lomotif is a TikTok rival based out of Singapore.
  • The social media sharing service has a focus on videos with more than 10 billion user-generated clips.
  • Its total installs surpass 225 million across the world and the app is available in more than 200 countries and 300 languages.
  • The co-founders of ZASH behind this deal are former MoviePass chairman Ted Farnsworth, early Musical.ly, now under the name TikTok, investor Jaeson Ma, and Triller Board Member Vincent Butta.
  • The merger between Vinco Ventures and ZASH, as well as ZASH acquiring Lomotif, is set to take place at the same time.
  • When the merger between Vinco Ventures and ZASH closes, this will have Lomotif owned by a public company in the U.S.

BBIG stock was down 7.5% as of Tuesday morning.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media, https://investorplace.com/2021/02/bbig-stock-10-things-to-know-about-tiktok-rival-vinco-ventures-amid-the-merger-news/.

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