Vinco Ventures Inc. (NASDAQ: BBIG) stock surged by 19.89% at last close while the BBIG stock price soars by 9.39% during the after-hours trading session. Vinco Ventures, Inc. (BBIG) is a digital media and content technology-focused acquisitions firm. The B.I.G. approach at Vinco is to look for acquisition prospects that are ready to scale and will be big.
BBIG stock’ Recent Development
Vinco Ventures has signed a binding letter of intent to buy AdRizer for $108 million. AdRizer is a major publisher and analytics solution with an emphasis on revenue attribution. AdRizer, like other technological platforms like Google AdWords and Facebook Ad Manager, will be incorporated into the Lomotif platform for ad placement income. The agreement includes a cash payment of $25 million, with the remainder paid in ZASH common shares. After the close, the common shares will be locked up for two years.
AdRizer maintained its performance in 2020, with revenues of over $37 million. AdRizer expects $62 million in sales this year, based on its current run rate. AdRizer says it has built one of the leading ad-tech firms as an advertising platform over the previous seven years. Google, Taboola, Outbrain, and Buzzfeed are just a few of the firms that use the AdRizer platform. In its own unique platform with A.I., AdRizer performs both real-time programmatic ad transactions and direct contracts with agencies and advertisers.
AdRizer will continue to be a leader in ad-tech by building a unique ad platform within Lomotif, a short-form video platform. This, according to Lomotif, opens up enormous potential for both individuals and companies. Advertisers will be able to plan their ad buys across Lomotif’s Audience Network, which allows the company to monetize social traffic throughout the globe.
Ken Bond, Founder, and CEO of AdRizer commented,
While developing AdRizer over the previous few years, they’ve always known that the eventual goal would be to integrate with a big internal platform like Lomotif. They believe they have established an excellent foundation in the IT area, which they can now use in the interest of all of their firms inside the ZASH ecosystem.