LOS ANGELES, May 19, 2021 /PRNewswire/ -- ZASH Global Media and Entertainment co-founder Ted Farnsworth and Lomotif co-founder and CEO Paul Yang have been named to Variety magazine's inaugural Silicon Valleywood Impact Report, celebrating visionary leadership in business and technology at entertainment and media companies over the past year.
Variety selected and profiled the industry's top senior tech executives around the world overseeing the vast digital transformation of their businesses to meet surging demand for streamed, direct-to-consumer content. The elite list recognized leaders for high-level leadership, strategic thinking, tech savvy – and success.
Variety recognized Farnsworth and Yang for the way their combined tech knowhow and corporate leadership has advanced ZASH and Lomotif, and impacted the industry at large.
The Silicon Valleywood Impact Report will be an enduring feature in Variety, tracking the exciting revolution that's rapidly changing the entertainment business.
Lomotif, the popular video sharing and global social media platform, and rival to TikTok and Kuaishou, is one of the fastest growing video-sharing social networking platforms in its category over the last three years, with 225+ million installations of the Lomotif app globally in over 200 countries in 300+ languages. Over 300 million videos are watched on the platform per month and over 10 billion atomic clips (User Generated Content (UGC)) have been used to create more than 750 million videos on the platform since its launch. ZASH entered into a definitive agreement to acquire a majority controlling interest in Lomotif Private Limited ("Lomotif"), which owns the Lomotif platform.
The acquisition of Lomotif enhances ZASH's offering by adding a short-form video component to its overall ecosystem as the company continues to grow a global content-centric technology company.
Lomotif, recently introduced a groundbreaking new format for talent discovery titled "You've Been Scouted," which invites users to compete in a global competition to crown the platform's top music performer, and reward them with a record label deal and album produced by Grammy Award®-winning, multi-platinum mega producer Teddy Riley. What "The Voice," "The Masked Singer" and "American Idol" are to network TV, "You've Been Scouted" is to the user generated content community around the world, and is among the early initiatives designed to expand Lomotif's U.S. user base and engagement as the company broadens its social penetration globally.
Lomotif is carving out an imposing presence in the music space, having recently partnered with LiveXLive for global live streaming distribution of Music Lives 2021, which drew an incredible 37+ million views on the Lomotif platform alone.
About Lomotif
Lomotif is the leading video-sharing social networking platform that is democratizing video creation. Since the company was co-founded by video enthusiast Paul Yang in 2014, Lomotif has been granted three technology patents uniquely focused on empowering creators to share and watch short videos with ease through remix and collaboration. Yang's bold vision is to build the world's largest video vocabulary to accelerate the world's transition to video-first expression. Lomotif, available in the Apple and Google stores, is a breakthrough downloadable app for hip hop, rap, and urban culture across the United States and Latin America. Lomotif is one of five partners selected by Snapchat for a bi-directional integration for posting stories between the two platforms. For additional information about Lomotif Private Limited, please visit Lomotif's website at www.lomotif.com.
About ZASH Global Media and Entertainment Corporation
ZASH Global Media and Entertainment Corporation is an evolving network of synergetic companies working together to disrupt the media and entertainment industry as we know it today. The ZASH team is managed by a group of smart, if not somewhat brazen, consummate disrupters. ZASH believes its management team has an exceptional and unparalleled ability to pivot because their knowledge and experience is steadfast and unyielding. For additional information about ZASH Global Media and Entertainment Corporation, please visit ZASH's website at www.zash.global.
Forward-Looking Statements and Disclaimers
This press release contains "forward-looking" statements within the meaning of federal securities laws. Forward-looking statements include, among others, statements concerning or implying future financial performance, anticipated product performance and functionality of ZASH's products or products incorporating ZASH's products, and industry trends and growth opportunities affecting ZASH. Such information are based upon beliefs of, and information currently available to, ZASH management as well as estimates and assumptions made by ZASH's management. These statements can be identified by the fact that they do not relate strictly to historic or current facts. When used in this presentation the words "estimate," "expect," intend," believe," plan," "anticipate," "projected" and other words or the negative of these terms and similar expressions as they relate to ZASH or ZASH's management identify forward-looking statements. These forward-looking statements include statements regarding the potential business synergies resulting from ZASH's acquisition of Lomotif and ZASH's proposed merger with Vinco, the potential market for ZASH's and Lomotif's product offerings, customer adoption and use of the Lomotif platform, and the ability of ZASH to monetize product offerings, including the Lomotif platform. Such statements and the other forward-looking statements in this press release reflect the current view of ZASH with respect to future events and are subject to risks, uncertainties, assumptions and other factors relating to ZASH and Lomotif's industries, operations and results of operations and any businesses that may be acquired by ZASH. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although ZASH believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, performance, or achievements. All forward-looking statements are qualified in their entirety by this cautionary statement. ZASH is providing this information as of the date of this release and does not undertake any obligation to update any forward-looking statements contained in this release as a result of new information, future events, or otherwise.
SOURCE ZASH Global Media
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