Vinco Ventures, Inc. announced it has completed the previously announced acquisition of AdRizer LLC (“AdRizer”), a provider of technology solutions that automate the use of artificial intelligence for digital advertising analytics and programmatic media buying, for consideration consisting of $38 million in cash paid at closing and up to 10 million shares of common stock of Vinco issuable on January 1, 2024.
ZVV Media Partners, LLC, a joint venture of Vinco and Zash Global Media and Entertainment Corporation, and ZASH assigned their rights to acquire AdRizer to Vinco in connection with the transaction. As a result of the acquisition, AdRizer is now a wholly-owned subsidiary of Vinco.
Ken Bond, the founder and CEO of AdRizer, will continue as CEO of AdRizer under a three-year employment agreement with AdRizer.
“With the AdRizer acquisition complete, we are now focused on deploying AdRizer’s technology platform to monetize the content creation and streaming capabilities of the Lomotif short form video app, the leading video-sharing social networking platform that is democratizing video creation through digital advertising,” said Lisa King, CEO of Vinco.
Ted Farnsworth, Chairman of ZASH added, "We are thrilled to be advancing our plan to build a monetization platform on Lomotif, and are extremely excited about the combined future of Vinco, AdRizer and Lomotif."
AdRizer’s technology platform, Cortex, provides real-time analytics for marketing spend and revenue optimization to deliver streamlined ad-campaign creation for advertisers at scale. It integrates with various traffic partners including Google, MSN, Instagram, Facebook, Twitter and others. AdRizer’s technology platform for publishers and advertisers assists them in optimizing the return on their digital ad investment.
Vinco’s strategy of integrating the AdRizer platform with Lomotif includes integrating the full-service content monetization platform of Honey Badger, a subsidiary of Vinco that focuses on brand specific messaging and designing comprehensive digital campaigns from creation to monetization.
