Verb Technology Company, Inc. VERB shares are soaring in the morning session on Wednesday.
The company’s MARKET.live unit entered into a formal partnership with TikTok Shop, under which MARKET.live has become a service provider for TikTok Shop and is officially designated as a TikTok Shop Partner (TSP).
Under the terms of the partnership, TikTok Shop refers consumer brands, retailers, influencers, and affiliates leads to MARKET.live for a menu of paid services.
The partnership also contemplates TikTok Shop-sponsored studio rentals, as well as a paid-for “day pass” for the use of MARKET.live studio services by TikTok creators.
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MARKET.live will earn revenue from various fees, including monthly recurring payments, received directly from brands, retailers, influencers, and affiliates referred to MARKET.live by TikTok.
Furthermore, there are plans for MARKET.live to receive a share of the monthly revenue generated by the TikTok stores established for the brands, retailers, influencers, and affiliates referred to MARKET.live by TikTok Shop.
“We see very clearly the future of livestream shopping in the US and MARKET.live’sortant place in that future,” states Rory J. Cutaia, VERB CEO.
Price Action: VERB shares are trading higher by 41.4% to $0.3961 on the last check Wednesday.
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