EXCLUSIVE: ZASH Global Media Co-Founder On Why He's Taking On Tik Tok

EXCLUSIVE: ZASH Global Media Co-Founder On Why He's Taking On Tik Tok

Vinco Ventures Inc BBIG and ZASH Global Media and Entertainment announced the completion Friday of the acquisition of Lomotif through a joint venture, ZVV Media Partners. 

Ted Farnsworth, chairman and co-founder of ZASH Global Media and Entertainment, appeared on Benzinga's YouTube show "Power Hour" for an exclusive interview Monday. 

Farnsworth told Benzinga the company plans to take on the popular social media short video platform TikTok following its acquisition of Lomotif. 

Related Link: EXCLUSIVE: ZASH Global Media, Vinco Ventures Complete Acquisition Of TikTok Rival Lomotif

Based on the company's monthly active users, the combined valuation of the company following its recent acquisition is around $5 billion, he said. 

The company is doing well in countries outside of the United States, he said, adding that in places where Tik Tok is banned, including India, the company is doing extremely well.

Lomotif is exploring how to enter the American and European markets, he added. 

The company expects to change Lomotif's name to "Lomo," Farnsworth noted. 

Farnsworth told Benzinga the company has content agreements with Facebook Inc FB and Snap Inc SNAP on the Facebook, Instagram and Snapchat platforms. 

"We are definitely on a M&A trail of looking at things that make a lot of sense for us," he said. 

See the full interview here:

Price Action: Vinco Ventures has traded as high as $9.40 and as low as $1.11 over a 52-week period.

 

The stock was up 5.26% at $3.40 at the close Monday. 

Posted In: Penny StocksExclusivesMoversTrading IdeasInterviewLomotifPower HourTed FarnsworthTikTok