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Vinco Ventures (BBIG) has formed a strategic partnership with Ficto, a social video platform, through ZASH Global Media. This collaboration aims to integrate traditional streaming with interactive social media features, enhancing global content distribution and user engagement. The partnership will promote everyday shows like Everyday Edisons while targeting monetization via brand collaborations. This move is expected to elevate ZASH’s media ecosystem, allowing for real-time engagement and innovative advertising solutions, solidifying their position in the rapidly evolving entertainment industry.
Vinco Ventures (NASDAQ: BBIG) has partnered with Zash Global Media and Entertainment to produce the documentary Chicago: America’s Hidden War, which is now on the 2021 Oscars Eligibility list for Best Documentary Feature. The film highlights the violence in Chicago, with over 10,000 deaths linked to gun violence since 2001, surpassing U.S. military casualties in Iraq and Afghanistan combined. Dimas Salaberrios, the director, calls for national awareness and action against the issue.
Vinco Ventures (NASDAQ: BBIG) has announced a merger agreement with ZASH Global Media and Entertainment, aimed at accelerating growth in live-streaming content and digital entertainment. This merger is led by industry leaders, including Ted Farnsworth and Jaeson Ma, and aims to create a 'Virtual Hollywood' by integrating advanced analytics and distribution technology. The merger is expected to enhance Vinco's content creation and distribution capacity, leveraging ZASH's proprietary platforms that have achieved over 2 billion video views. The combined entity focuses on the evolving demands of content consumption and engagement.
Vinco Ventures (NASDAQ: BBIG) announced significant progress in its subsidiary Honey Badger Media, LLC, focusing on influencer marketing. Within the first month, Honey Badger secured a roster of celebrity influencers, including Bam Margera and Adalia Rose, enhancing its reach to over 300 million followers. This initiative aims to drive advertiser-based revenue and is part of Vinco's broader Be B.I.G. business strategy. The company expresses optimism about Honey Badger's revenue potential and scaling capabilities, indicating its integral role in overall growth.
Vinco Ventures (Nasdaq:BBIG) announced the successful sale of its subsidiary SRM Entertainment to Jupiter Wellness (Nasdaq:JUPW) on November 30, 2020. The transaction involved Vinco receiving 200,000 shares of Jupiter’s restricted common stock in exchange for 100% ownership of SRM, along with its employees and operational obligations. This divesture is part of Vinco's strategy to enhance its capital position and reduce operational costs as it prepares for further planned divestitures in 2021.
Vinco Ventures (BBIG) announced that its growth platform, Markets on Main, has struck a new agreement with OPTEC International for distributing innovative health products. The collaboration focuses on live shopping and digital commerce and includes two core products: the UV-C LED iWand, which disinfects surfaces effectively, and the Hydroxyl Portable Air Sterilizer that eliminates bacteria and viruses. This venture aligns with Vinco's B.I.G. strategy, aiming to leverage digital monetization and growth opportunities in health and wellness.
Vinco Ventures (NASDAQ: BBIG) reported its third quarter 2020 results, showcasing a 20.34% revenue increase to $4.25 million, up from $3.53 million in Q3 2019. Gross profit surged by 60.06%, reaching $1.58 million, while gross margin improved to 37.2%. However, the company faced a net loss of $2.87 million, worse than the prior year's loss of $2.63 million. Adjusted EBITDA also improved but remained negative at $182,644. The formation of Honey Badger Media and the new “Be Big” strategy aim to drive future growth.
On November 12, 2020, Vinco Ventures (NASDAQ: BBIG) announced its merger with Edison Nation, Inc., effective immediately. The merger initiates a new company name, Vinco, which aims to leverage a B.I.G. Strategy (Buy. Innovate. Grow.) focusing on acquiring digital media and consumer product brands for growth. The company has set a target of acquiring one brand per quarter, starting with Honey Badger Media. Current revenue guidance for fiscal 2021 totals $38.1 million, and Vinco plans to maintain transparency in PPE revenue amidst COVID-19 challenges.
Edison Nation has successfully completed the acquisition of TBD Safety, LLC, owner of the 911 Help Now® Brand. This transaction, finalized on October 16, 2020, allows Edison to diversify into the safety and security sector, a growing market. The acquisition includes a revenue forecast of $10 million for FY 2021, driven by the sales of emergency communication products. Additionally, a technology license with Emergency Cellular Solutions will introduce a cell phone and medical alert device, expected to launch in Q1 2021. This strategic move aims to enhance Edison’s product portfolio and revenue streams.
Edison Nation has acquired TBD Safety, LLC, the owner of the 911 Help Now® brand, enhancing its emergency communication technology portfolio. This acquisition involves exchanging common and preferred stock for 100% of TBD, which boasts a strong patent portfolio and successful consumer products. Notable products include the 911 Help Now® Emergency Communication Pendant and other safety tools. CEO Christopher Ferguson emphasized leveraging expertise in manufacturing to increase revenue while addressing consumer safety needs. This move aligns with rising awareness for preparedness in 2020.
