CCV Portfolio Lomotif, One of the World’s Best Social Video Sharing Apps, Completes Acquisition by ZVV Media
BEIJING, September 1, 2021 /PRNewswire/ — CCV Lomotif’s portfolio has been acquired by ZVV Media, a joint venture of ZASH Global Media and Entertainment Corporation (“ZASH”), and Vinco Ventures. CCV is the largest institutional investor in Lomotif, which led the company’s Series A funding round in 2018. Until the acquisition, CCV is the largest institutional shareholder in the company.
Lomotif is one of the world’s best short-form video platforms with hundreds of millions of installs worldwide and tens of millions of monthly users (*Sensor Tower data, June 2021), of which more than 31 million are monthly active users on the platform (“MAU”). Since CCV’s investment in 2018, the company has been among the fastest growing video-sharing social media platforms, with more than 225 million Lomotif app installs across more than 200 international sites in more than 300 languages. According to outdoor watch providers, more than 300 million movies are streamed on the platform every month. Over 10 billion User Generated Content (UGC) atomic clips have been used to create over 750 million movies on the platform since its launch.
“It’s an exciting time for us here at Lomotif as we build one of the largest short video platforms in the world in such a short time,” said Paul Yang, CEO of Lomotif. “With this acquisition, we are taking Lomotif to the next level. The combination of new touchpoints in the media and entertainment industry, such as syndicated television and music with short videos and user-generated content, is currently one of the fastest growing segments. We are very well positioned to be one of the best video platforms in the long term. We have experienced phenomenal growth since our still short cooperation. Thanks to the strategies of marketing and positioning provided by the ZASH team, Vinco Ventures and ZVV Media. I’m excited about the bright future for us.”
Mr. Wei ZhouCCV Founding Partner congratulated Lomotif on joining the ZVV Media family: “Lomotif alongside ZVV will bring new breakthroughs in the video sharing ecosystem and entertainment industry globally. CCV has invested in the series A from Lomotif in 2018, impressed with the team’s visionary go-global and deep understanding of Gen Z and globalization.The company’s continued strong growth over the past 3 years has proven us right.
“Social networks and content platforms have always been the strong axes of CCV, and we have accompanied major companies in this field such as Asia Innovation Group, Tantan, Ximalaya, VeeR and MetaApp in their growth. However, our exploration towards this path does not stop there. We strongly believe in and are long-term optimists on exporting technology. In 2018, CCV invested in Series A of MetaApp and continued to invest in its Series B and C thereafter. Today, MetaApp is the most promising company in the Chinese metaverse landscape. We have also invested in leading companies in virtual beings, Cishi and Yunbo. Cishi is a virtual beings content provider with huge potential in the metaverse, and Yunbo plays a key role in motion legend for virtual beings. New generation in China has sparked new social and consumer behaviors, and CCV will continuously seek companies with high potential in this direction“, Wei added.
China Creation Ventures (CCV) was founded by former KPCB China Managing Partner, Wei Zhou. With over $500 million dollars and 2.5 billion RMB under management, CCV focuses on early-stage and growth-stage investments, including enterprise solutions, cutting-edge technologies, digital healthcare and products targeting next-generations. Over the past 14 years, our team has backed iconic companies from the start, including JD.com (Nasdaq: JD), CreditEase (NYSE: YRD), Rong360 (NYSE: JT), Himalaya FM, Tantan (acquired by Nasdaq MOMO ), Venustech (002439), Q&C silicon Co., LTD (SSE: 605183), MetaApp, Shukun Technology, Quicktron, Cowa Robot, Perfect Corp., IceKredit, Transsnet Finance, etc. So far, the invested CCV unicorn team has reached 14. More information about CCV at www.ccvcap.com.
Lomotif is the leading social media video sharing platform that democratizes video creation. Since this company was co-founded by video fanatic Paul Yang in 2014, Lomotif has obtained three patents of expertise solely intended to allow creators to easily share and watch fast-paced videos through remixing and collaboration. Yang’s audacious and prescient imagination is to build the world’s largest video vocabulary to accelerate the global transition to video-first expression. Lomotif, available from the Apple and Google stores, is a downloadable app for hip hop, rap and concrete tradition through America and Latin America. Lomotif is one of the 5 companions chosen by Snapchat for two-way integration for posting stories between the 2 platforms. For more details on Lomotif Non-public Restricted, please visit the Lomotif website at www.lomotive.com.
SOURCE China Creation Ventures (CCV)