NEW YORK, March 12, 2019 /PRNewswire/ -- Hilco Streambank, a leading advisory firm specializing in the monetization of intellectual property assets, announced its acquisition of the assets of Tsu, a social network. The acquisition, which was finalized in early 2019, comes after Evacuation Complete, LLC filed for bankruptcy in 2016. The assets include its TSU.co domain name, the Tsu trademark, proprietary code, software and its database of registrants. Hilco Streambank is seeking a strategic buyer or partner for the assets.
Tsu was launched in October 2014 as a fully functional, globally scalable social networking platform available via the web and its iOS/Android application. The original founders built the platform with a vision to reward its users for the content they create. Unlike other social networking sites, Tsu differentiated itself by awarding content creators with a percentage of ad revenues based on their following and content engagement using a proprietary algorithm. In the months after initial launch, Tsu became one of the fastest growing social networks, achieving 3.5 million registered users in its first 6 months of public existence and registering 4.5 million users by its first anniversary.
The Tsu assets, including its revenue sharing algorithm, are being stored in databases under Hilco Streambank's control. "The technology associated with the Tsu platform creates an opportunity to build on top of a high-performance backend that could save a team several years of development work and the highly brandable tsu.co domain name that has considerable clout in the social networking space," explains Jack Hazan, EVP of Hilco Streambank.
To learn more about the acquisition of the Tsu social network, contact Hilco Streambank or visit tsu.co.
About Hilco Streambank: Hilco Streambank is a market leading advisory firm specializing in intellectual property disposition and valuation. Having completed numerous transactions including sales in publicly reported Chapter 11 bankruptcy cases, private transactions, and online sales through auctions.ipv4.global, Hilco Streambank has established itself as the premier intermediary in the consumer brand, internet and telecom communities. Hilco Streambank is part of Northbrook, Illinois based Hilco Global, the world's leading authority on maximizing the value of business assets by delivering valuation, monetization and advisory solutions to an international marketplace. Hilco Global operates more than twenty specialized business units offering services that include asset valuation and appraisal, retail and industrial inventory acquisition and disposition, real estate and strategic capital equity investments.
SOURCE Hilco Streambank