ZASH Acquires 20% of Video-Sharing App Lomotif

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ZASH Global Media and Entertainment acquired approximately 20 per cent shares of TikTok and Kuaishou rival, Lomotif.  In February ZASH entered into a definitive agreement to acquire a majority controlling interest in Lomotif.

Lomotif is a video-sharing social networking platform 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.  The addition of Lomotif enhances ZASH’s offering by adding a short-form video component to its overall ecosystem as the company continues to grow into a global content-centric technology company.

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“We believe very strongly in the user-generated contact space (UGC) and it is a great honour for us to be able to purchase the remaining shares of Lomotif,” said Ted Farnsworth, co-founder, ZASH. “With the growth that we have seen recently and continue to see overall in UGC, we feel that this is the perfect positioning to become one of the top leaders competing with TikTok and others for Vinco and Zash as the completion of our two company’s merger becomes imminent.”

Lomotif recently introduced a 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 producer Teddy Riley.