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Vinco Ventures Inc (NASDAQ: BBIG) stock price rallied 24.15% after announcing plans to acquire AdRizer for $108 million via its joint venture with ZASH Global Media and Entertainment, known as ZVV Media Partners.
AdRizer is a publishing and analytics platform focused on revenue attribution. It will be integrated into the Lomotif platform to track ad placement revenues like Facebook ad manager and Google Adwords.
AdRizer generated $37 million in revenues last year and is on track to generate $62+ million in revenues this year, which explains its lofty valuation.
Vino will fund the deal via a cash consideration of $25 million. The remaining amount will be settled in equivalent ZASH stock, which will have a two-year lockup after closing.
AdRizer has established itself as a leading ad-tech company with a solid advertising platform. The company provides both live programmatic ad transactions and contracts with agencies and advertisers who use its proprietary ad platform and its cutting-edge AI system.
AdRizer will use its proprietary ad-tech to create an ad platform within Lomotif, the short-form video platform, to create significant opportunities for businesses and content creators.
Advertisers will then be able to buy ads across Lomotif’s audience network, allowing the platform to monetize its social traffic in countries where its users are located.
Ken Bond, AdRizer’s Founder and CEO, said, “Over the last several years while building AdRizer, we always knew the end game for us would be integrating with a large internal platform such as Lomotif. We feel that we have built an incredible foundation in the tech space, but now we can leverage to the advantage of all our companies inside the ZASH ecosystem.”
Ted Farnsworth, ZASH’s Chairman and Co-Founder, echoed his sentiments, “This is an exciting time for us as we move forward with our strategy for building out a full platform on a short-form video app like Lomotif. We will now be able to monetize within our internal platform.”
BBIG shares have bounced off the $5.0 support level, which could lead to further gains if the level holds over the coming days.
*This is not investment advice.
Vinco Ventures stock price.
Vinco Ventures stock price rallied 24.15% higher premarket to trade at $6.22, rising from Wednesday’s closing price of $5.01.
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