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Grom Social Enterprises Inc is a social media, technology, and entertainment company for kids focused on producing original content. The company provides a social media platform, creates animated characters, interactive charts, videos, blogs, and games. It has three main business segments: Animation, Original Content, and Social & Technology. The majority of its revenue comes from the Animation segment.
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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.
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Grom Social Enterprises, Inc. announces the launch of a redesigned COPPA-compliant social media app for kids, focusing on safety and education.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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FAQ
What is the current stock price of GROM SOCIAL ENTERPRS WTS (GROMW)?
The current stock price of GROM SOCIAL ENTERPRS WTS (GROMW) is $0.0005 as of October 15, 2024.
What does Grom Social Enterprises Inc do?
Grom is a social media, technology, and entertainment company for kids that focuses on producing original content, including animated characters, interactive charts, videos, blogs, and games.
What are the three main business segments of Grom Social Enterprises Inc?
The company has three reportable segments: Animation, Original Content, and Social & Technology, with the Animation segment contributing the majority of its revenue.
What is the focus of Grom's Original Content segment?
The Original Content segment includes creating and delivering original entertainment content for children under 13 through mobile and desktop environments, teaching them about digital citizenship.
How does Grom aim to expand its portfolio of entertainment offerings?
Grom looks to advance its entertainment offerings by acquiring Arctic7, a move that will introduce the company to the gaming industry and explore synergies amidst its suite of offerings catering to today's families.
What are some upcoming projects from Grom's Curiosity Ink Media division?
Curiosity Ink Media plans to debut two co-productions next year, a feature film titled Santa.com and an original preschool series named Hey Fuzzy Yellow!, both set for international distribution.
How does Top Draw Animation contribute to Grom's offerings?
Top Draw Animation, acquired by Grom in 2016, produces award-winning animation content for international media companies, showcasing Grom's commitment to quality entertainment for kids.
What are the benefits of partnering with Top Draw Animation in the Philippines?
Grom's Manila-based animation studio, Top Draw Animation, offers premium production pipelines and benefits from generous tax incentives, providing cost-effective solutions for partners.
Who leads Top Draw Animation and Grom's entertainment division?
Top Draw Animation is led by President Russell Hicks and EVP Jared Wolfson, who bring industry experience to the studio, enhancing Grom's global presence in the entertainment sector.
What is the focus of Grom's Educational Services division?
Grom Educational Services offers web filtering for schools nationwide, part of Grom's commitment to providing a safe social media app for kids.
Who is the new COO of Top Draw Animation and how is he contributing to the company?
Cyrus Mistry, the newly-installed COO, brings award-winning expertise to Top Draw Animation, showcasing preferred partnerships, tax incentives, and a dedicated team for exceptional client experiences.
GROM SOCIAL ENTERPRS WTS
Nasdaq:GROMW
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