Welcome to our dedicated page for GROM SOCIAL ENTERPRS news (Ticker: GROM), a resource for investors and traders seeking the latest updates and insights on GROM SOCIAL ENTERPRS stock.
Grom Social Enterprises Inc (NASDAQ: GROM) is a dynamic social media, technology, and entertainment company dedicated to producing original content for children under 13. The company's mission is to provide safe, secure, and engaging digital environments for kids, where they can interact, learn, and be entertained under the watchful eyes of their parents or guardians.
Founded in 2012 by the Marks Family, Grom Social started as a website offering a secure social media platform for kids. Today, it has evolved into a comprehensive mobile app that features animated characters, interactive charts, videos, blogs, and games. Grom Social Enterprises operates through three primary business segments:
- Animation: This segment includes Top Draw Animation (TDA), an award-winning studio based in Manila, Philippines. TDA produces high-quality animation content for global media companies and is known for its cost-effective production reinforced by government tax incentives.
- Original Content: Curiosity Ink Media (CIM) falls under this category, a global media company that develops, acquires, and maximizes the commercial potential of kids' and family entertainment properties. CIM's portfolio includes upcoming productions like the feature film Santa.com and the preschool series Hey Fuzzy Yellow!.
- Social & Technology: This segment encompasses Grom Social (GSOC) and Grom Educational Services (GEDU). GSOC focuses on delivering a safe social media experience for kids, complete with augmented reality features and stringent safety protocols. GEDU offers web filtering solutions for K-12 schools, government, and private businesses through its NetSpective web filter.
In recent news, Grom Social has updated its app to feature enhanced safety measures, including a new parent-child video verification process and advanced AR technology. The company also announced its intent to acquire Arctic7, a gaming and virtual production company, aiming to expand its entertainment offerings and delve into the lucrative gaming market.
Led by CEO Darren Marks and President Paul Ward, Grom Social continues to innovate and grow, making significant strides in creating a safer digital world for kids. The company is committed to educating children about digital citizenship while offering a fun and engaging online experience.
For more information, visit Grom Social or for investor relations, please visit Grom Investors.
News
Rhea-AI Summary
Grom Social Enterprises, Inc (NASDAQ: GROM) enters into a Letter of Intent to acquire Arctic7, a provider of game development, co-development, and virtual production services. Arctic7 aims to become a leader in the gaming and film & TV industry. The acquisition aligns with Grom's strategy to expand its entertainment offerings into the gaming sector.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.5%
Tags
-
Rhea-AI Summary
Grom Social Enterprises, Inc. announces the launch of a redesigned COPPA-compliant social media app for kids, focusing on safety and education.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
-
Rhea-AI Summary
Grom Social Enterprises, Inc. (NASDAQ: GROM) announces the non-binding letter of intent to acquire Arctic7, Inc., an emerging gaming industry service provider, in a 100% equity transaction. The acquisition aims to tap into the $185 billion global gaming market, leveraging Arctic7's expertise in full game development, co-development, and virtual production. Arctic7 has shown impressive growth, reaching $7.9 million in FY23 and projecting $14 million in FY24. The partnership intends to fuel Arctic7's growth and enhance Grom's entertainment ecosystem through content collaboration, cross-promotional opportunities, and more.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
64.94%
Tags
Rhea-AI Summary
Grom Social Enterprises, Inc. (NASDAQ: GROM) will showcase its kid and family-centered intellectual property and animation production services at the Kidscreen Summit. The company's key executives will present its growing catalog of IP and animation production services, seeking international distribution for its kid-first IP franchises. The offerings include original animated feature film Santa.com, set for global distribution in Fall 2025.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.32%
Tags
-
Rhea-AI Summary
Grom Social Enterprises, Inc. and its subsidiary, Curiosity Ink Media, reported significant growth in Santa.com's e-commerce and editorial platform during the 2023 holiday season. The platform saw a substantial increase in orders and revenue, as well as a significant growth in social media audience and impressions. The company aims to leverage these results for future growth.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.93%
Tags
-
Rhea-AI Summary
Grom Social Enterprises, Inc. (NASDAQ: GROM) announces partnership with 2023 World Surfing League Women's World Champion, Caroline Marks, as she prepares to represent the US in the 2024 Summer Olympics in French Polynesia. Marks will be featured on Grom Social, sharing her journey to the games and promoting digital safety for kids.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.65%
Tags
Rhea-AI Summary
Grom Social Enterprises, Inc. (NASDAQ: GROM; GROMW) announced the first closing of a private placement of a convertible promissory note with an initial principal amount of $4,000,000. The company will issue warrants to acquire 1,514,072 shares of Common Stock to the institutional investor. The net proceeds from the private placement will be used for general working capital and administrative purposes. EF Hutton LLC acted as the exclusive placement agent for the offering.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-8.4%
Tags
-
Rhea-AI Summary
Curiosity Ink Media's e-commerce platform, Santa.com, has partnered with American Greetings to offer holiday-related products, including the popular digital Jacquie Lawson Edwardian Advent Calendar. The platform aims to provide families globally with a magical yuletide experience through a variety of gift options, home goods, journals, calendars, stationery items, and Santa's favorite candy and baked goods. This partnership is expected to drive significant traffic to Santa.com, enhancing the company's revenue potential. The collaboration with American Greetings adds a unique and high-utility resource to Santa.com's Gift Shop, catering to all age groups and contributing to a festive holiday season. Grom Social Enterprises, Inc. (NASDAQ: GROM) is the parent company of Curiosity Ink Media, showcasing the company's commitment to expanding its e-commerce offerings and delivering value to its customers and shareholders.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.72%
Tags
-
News
Rhea-AI Summary
Grom Social Enterprises, Inc. (GROM) announced a securities purchase agreement with an institutional investor, selling two convertible promissory notes for $4,000,000 each, along with warrants to acquire a total of 3,028,146 shares of Common Stock. The company will use the net proceeds for general working capital and administrative purposes.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.88%
Tags
Rhea-AI Summary
Grom Social Enterprises, Inc. (GROM) announced a securities purchase agreement with a single institutional investor to sell two convertible promissory notes for a total of $8,000,000. The company also agreed to issue warrants to acquire 3,028,146 shares of common stock. The transactions are subject to shareholder approval and the company plans to use the net proceeds for general working capital and administrative purposes.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.88%
Tags
FAQ
What is the current stock price of GROM SOCIAL ENTERPRS (GROM)?
The current stock price of GROM SOCIAL ENTERPRS (GROM) is $0.0275 as of October 15, 2024.
What is the market cap of GROM SOCIAL ENTERPRS (GROM)?
The market cap of GROM SOCIAL ENTERPRS (GROM) is approximately 1.2M.
What does Grom Social Enterprises Inc. do?
Grom Social Enterprises Inc. provides a safe social media platform and original entertainment content for children under 13, along with educational services and animation production.
How does Grom Social ensure online safety for kids?
Grom Social incorporates advanced safety measures like parent-child video verification, COPPA compliance, and parent monitoring features to ensure a secure online environment for kids.
What are the main segments of Grom Social's business?
Grom Social operates through three main segments: Animation, Original Content, and Social & Technology. The Animation segment includes Top Draw Animation, the Original Content segment includes Curiosity Ink Media, and the Social & Technology segment includes Grom Social and Grom Educational Services.
What recent updates have been made to the Grom Social app?
The Grom Social app has been updated with new safety features, an advanced AR camera, and a 3D avatar asset library for kids to create personalized profiles.
Who founded Grom Social Enterprises Inc.?
Grom Social was founded by the Marks Family in 2012, led by then-11-year-old Zach Marks.
What is Top Draw Animation?
Top Draw Animation (TDA) is an award-winning animation studio based in Manila, Philippines, producing high-quality content for leading international media companies.
What is Curiosity Ink Media?
Curiosity Ink Media (CIM) is a global media company that develops, acquires, and maximizes the commercial potential of children’s and family entertainment properties.
What does Grom Educational Services offer?
Grom Educational Services provides web filtering solutions for K-12 schools, government, and private businesses through its NetSpective web filter.
What is Arctic7 and how is it related to Grom Social?
Arctic7 is a gaming and virtual production company that Grom Social intends to acquire, aiming to expand its entertainment offerings into the gaming industry.
How can I get more information about Grom Social Enterprises Inc.?
For more information, visit the company's website at https://gromsocial.com or for investor relations, visit https://investors.gromsocial.com.
GROM SOCIAL ENTERPRS INC
Nasdaq:GROM
GROM Rankings
GROM Stock Data
1.23M
9.02M
0.02%
4.41%
1.31%
Internet Content & Information
Services-computer Programming, Data Processing, Etc.
United States of America
BOCA RATON