FORT LEE, N.J., Sept. 12, 2019 /PRNewswire/ -- Jerrick Media Holdings, Inc. (OTCQB: JMDA) (the "Company" or "Jerrick"), a technology company and the creator of Vocal, today announced the completion of its acquisition of full-service e-commerce marketing agency Seller's Choice.
Under the terms of the purchase agreement, Jerrick acquired Seller's Choice for $2 million, representing an approximate 1.3-1.5 multiple of the Company's projected 12-month-forward revenues, consisting of $340,000 in cash, a $660,000 promissory note and $1 million in stock.
Jerrick CEO Jeremy Frommer said, "The integration of Seller's Choice personnel into the Company is well underway. Operational synergies are expected to translate into significant cost savings for the Company. The respective Seller's Choice and Vocal for Brands sales forces have begun integrating processes and protocols. I expect the deal to be immediately accretive to earnings and have a positive effect on net equity."
Added Seller's Choice CEO Jay Goldberg, "We are excited to join the Jerrick team. In partnering with Jerrick and aligning our premium service offerings with Vocal for Brands, Seller's Choice will bring new products, brands and creators to the growing Jerrick business community."
Jerrick is a holding company that develops technology-based solutions. Its flagship product Vocal is a long-form, digital publishing platform focused on supporting content creators by providing them with publishing tools and monetization features that are embedded within digital communities. Vocal is architected to enable targeted marketing of branded content and e-commerce opportunities embedded within long-form content. Vocal's community sites are managed by a dedicated team, whose primary focus is on creating safe communities and identifying monetization opportunities within them.
For more information please review Jerrick's Investor Presentation:
About Seller's Choice
Seller's Choice is a full-service e-commerce digital marketing solution provider which leverages their platform and professional services to advance the reach of both B2B and B2C product and service brands. Utilizing their integrative next-gen marketing platform, Seller's Choice focuses cohesively in the four key factors of online sellers–sell-through, differentiation, community and compliance–to help e-commerce businesses establish their brand identity and realize profitable and sustainable growth while maximizing customer engagement and retention.
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SOURCE Jerrick Media Holdings, Inc.