Vinco Ventures Makes Major Move in Digital Media

Vinco Ventures, a digital media and content technology company listed on the Nasdaq stock exchange under the ticker symbol BBIG, announced today that it has completed the purchase of all equity interest in ZVV Media Partners, a joint venture between Vinco Ventures and Zash Global Media.

This acquisition includes the popular short-form video sharing app, Lomotif, which has been touted as a strong rival to TikTok. Lomotif has recently been named as one of the top 12 best TikTok alternatives by various websites and publications, and was ranked #3 on begindot.com's list of the top TikTok alternatives.

The Move

The move by Vinco Ventures to acquire all of the ZVV Media Partners equity comes amid increasing governmental scrutiny and political concerns surrounding TikTok, a China-based company. The Senate recently passed legislation to ban TikTok from all US government devices, after the No TikTok on Government Devices Act was approved by unanimous consent.

"Vinco Ventures' leadership is extremely confident in its fast-tracked and collaborative mission to make the company a major player in the media and entertainment space," said Vinco Ventures spokesperson Javan Khazali. "This acquisition is another step towards that goal and the company will continue to identify and pay close attention to brands that can complement and scale operations."

Through the acquisition of ZVV Media Partners equity, Vinco Ventures expands its portfolio with the exciting addition of various in-house production TV series. This acquisition is in line with the company's strategy to build a content-driven ecosystem with existing synergies like Lomotif, AdRizer, Magnifi U, and Honey Badger.

The Deeper View of Vinco

It is worth noting that Vinco Ventures' consolidated subsidiary, ZVV Media Partners, LLC, already held an 80% ownership interest in Lomotif Private Limited. And Vinco Ventures owns a 100% ownership interest in AdRizer, LLC.

This move by Vinco Ventures highlights the growing importance of digital media and content in today's world, and the company's commitment to being at the forefront of this rapidly-evolving industry.

With the acquisition of ZVV Media Partners, Vinco Ventures has taken a significant step towards becoming a major player in the media and entertainment space.