ZASH to acquire TikTok rival Lomotif

Singapore, Feb 23 (IANS): ZASH Global Media and Entertainment Corp. on Tuesday said it has inked a deal to acquire a majority controlling interest in Lomotif, a Singapore-based video-sharing social networking platform and budding rival to TikTok.

The financial terms of the deal were not disclosed.

ZASH is backed by former MoviePass Chairman Ted Farnsworth, early investor Jaeson Ma, and early Triller visionary Vincent Butta.

The closing of the Lomotif acquisition by ZASH is scheduled to occur concurrently with the closing of ZASH's merger and business combination with Vinco Ventures, Inc. which was previously announced in January, the company said.

The closing of the Lomotif acquisition is subject to certain customary conditions, it added.

Upon completion of the merger between ZASH and Vinco, ZASH will become a public company and controlling shareholder of Vinco, making Lomotif a video-sharing social networking platform to be owned by a US publicly traded company, competing with TikTok and Kuaishou in the space.

"Lomotif is a global platform with tremendous following in Latin America and Asia and together with ZASH it will replicate that success in the US and other markets," Jaeson Ma said in a statement.

"In today's world of mass consumption of short-form content, we see Lomotif's addition to the ZASH family as an incredible opportunity to leverage our content in all formats and broaden our distribution platform worldwide."

ZASH said that Lomotif is one of the fastest growing video-sharing social networking platforms in its category over the last three years and in Latin America, Asia, Europe and West Africa, Lomotif has increased its average monthly community by over 400 percent in this time span.

Over 10 billion times atomic clips (user generated content) have been used to create more than 740 million videos on the platform since launch.

Lomotif Founder and Chief Executive Officer, Paul Yang, will continue to lead Lomotif upon completion of the acquisition.



Top Stories

Leave a Comment

Title: ZASH to acquire TikTok rival Lomotif

You have 2000 characters left.


Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will be held responsible.

Security Validation

Enter the characters in the image