FITE acquires sports startup Avid AI and former Sequoia Capital partner Tim Lee joins the company board

NEW YORK, Aug. 8, 2018 /PRNewswire/ -- Flipps Media Inc. (DBA FITE), the premium digital network for streaming live combat sports globally, announced today it has acquired the sports startup Avid AI Inc. in a cash and stock transaction. Flipps Media will integrate Avid AI's technology to expand its content recommendation capabilities and introduce an intelligent, personal news feed in the FITE product, to ensure that FITE users never miss content about their favorite fighters.

As part of the acquisition, Avid AI Founder and CEO Timothy Lee, a former partner at Sequoia Capital will join the FITE board of directors. His appointment will bring deep product and operational experience to the board, as the company enters its next phase of global growth. Tim's previous investments at Sequoia include App Annie, Pocket Gems, Shopular, Thanx and Whatsapp, among others.

"This is a very strategic acquisition for FITE as we continue on our journey to personalize the user experience, and improve our capabilities to match viewers and content and thus drive even stronger results to our content partners," said Kosta Jordanov, FITE CEO. "We're thrilled to have the opportunity to work with Tim Lee who not only brings wealth of experience in scaling companies, but also shares our personal excitement for combat sports," added Jordanov.

"Avid AI was founded with a mission to bring together next generation sports fans in a social and highly personalized experience on mobile," said Lee, who holds a 3rd degree Black Belt in Taekwondo. "We are very excited to combine Avid AI's intelligent content engine with FITE's live video streaming capabilities to deliver a unique user experience for combat sports fans around the world."

Some of Avid AI's capabilities are already integrated in the latest FITE iOS release, and the app now offers new interactive features such as an option to follow favorite fighters, and a personalized news feed available in the "News" tab within the app. Users can stay on top of breakout news specially selected based on their favorite topics, fighters, promotions, upcoming events, and interaction with the feed. The new features will soon be released on Android, as FITE continues to integrate the full Avid AI engine into the FITE product line.

About FITE:

FITE is a premium digital live streaming network. The company is dedicated to provide fans with a reliable and engaging way to watch premium live events, and help programmers distribute and monetize them.

With live programming from over 200 content holders across 5 continents, FITE delivers premium MMA, boxing and pro wrestling events live to close to a million registered combat sports fans.

Since its launch in February 2016, FITE has presented over 1,000 live events and offers over 10,000 hours of video library available to watch on demand. FITE's patented TV streaming technology allows viewers to seamlessly cast premium live events to connected screens across the world. FITE is available as an iOS and Android mobile app, online at www.FITE.tv, and on Roku, Apple TV and Android TV boxes.

About Avid AI:

Founded by Tim Lee and Vu Nguyen, Avid AI is a mobile-first community for the next generation of sports fans. The company applies machine learning techniques to provide its sports community with an intelligent, personalized and social experience.

SOURCE FITE

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