Live Current Media Inc. Completes Acquisition of Influencer Marketing Technology Company GoFamer Oy

Rhea-AI Summary

Live Current Media (OTCQB:LIVC) has successfully acquired GoFamer Oy, a Finnish influencer optimization company, in an all-stock deal. This acquisition enhances Live Current's portfolio by integrating GoFamer's sophisticated analytics that help brands identify effective influencers and manage social media channels. CEO Mark Ollila expressed the strategic importance of this acquisition, aiming to tap into the evolving $104 billion creator economy. GoFamer's founder, Jere Virtanen, will remain with the company, indicating continuity and potential for synergistic growth.

Positive

• Acquisition of GoFamer enhances analytics capabilities for influencer marketing.
• Integration expected to drive synergies and expand Live Current's influence in the creator economy.
• GoFamer offers proprietary technology with a solid operating history.

Negative

• None.

SAN DIEGO CA / ACCESSWIRE / January 5, 2023 / Live Current Media, Inc. ("Live Current" or the "Company" - OTCQB:LIVC) announces that it has finalized the acquisition of GoFamer Oy ("GoFamer") of Finland in an all stock transaction.

GoFamer's end-to-end influencer optimization engine modernizes social influence, providing deep analytical insight into the value of influencers as brand accelerators. Brands can use GoFamer to identify the optimal mix of influencers for a program or campaign and then utilize the company's patent-pending dynamic ranking metric to assess all of their influencers on a level playing field. Influencers and creators can use GoFamer to manage and optimize all of their social media channels in one place. This combination of access and insight makes GoFamer an ideal synergy driver and addition to the Live Current Media Portfolio of properties and technologies.

"GoFamer adds a critical element to our growing platform, providing measurable, valuable insight and control that our creators can use to drive value, and brands can use to manage and optimize results," said Live Current CEO Mark Ollila. "It brings both proprietary technology and solid operating history to Live Current and will play a key role as we integrate our companies."

"This acquisition made total sense for GoFamer from day one," said GoFamer founder and CEO Jere Virtanen, who will be staying on with Live Current. "I see so much synergy with the existing Live Current Companies and we are already in discussions about how to grow together."

The GoFamer acquisition completes 2022 with a five company run from Live Current's CEO, Mark Ollila and team. "The social influencer landscape is maturing, and we have set a goal to bring together new technologies that change the face of the creator economy'" continued Ollila. "We have really hit our stride in 2022 and we expect even more exciting news in 2023, as it will be the year when it all comes together."

The creator economy, valued at $104 Billion has traditionally been dominated by sponsorships for professional influencers. However, according to CB Insights, the market is shifting towards new monetization methods such as merchandise, virtual tickets, digital gifting and subscriptions. There are over 250 million "Independent Creators" with less than 100,000 followers, comprising around 83% of creators worldwide, looking for a platform to grow and monetize their content. Live Current Media is committed to providing that home and community where they can thrive.

About Live Current Media Inc.

Live Current Media Inc. has created an integrated "Exosystem" to power the Independent Creator. The Company acquires and integrates technologies that automate key processes in content and community creation, bringing together innovative businesses and technologies to provide an end-to-end resource for the hundreds of millions of creators who don't have a significant presence in the creator economy. The Live Current platform offers a range of growing creative tools and community building technologies that include video community creation, AR/VR discovery, social media amplification, personal and business brand management and sponsorship and alternative revenue creation for the global creative community in addition to providing community and experiential solutions for businesses seeking to become more creative in the way they reach their current customers. The Live Current Exosystem assists Independent Creators in managing the four key pillars of independent creativity: Creation, Amplification, Participation and Monetization.

On behalf of the board of directors of Live Current Media Inc.

Mark Ollila, CEO & Director

For more information please contact:

David Jeffs
david@livecurrent.com
www.livecurrent.com
www.kast.gg

All statements in this press release that are not statements of historical fact are forward-looking statements, including any projections of growth, earnings, revenue, cash or other financial items, any statements of the plans, strategies, objectives and goals of management for future operations, any statements regarding future economic conditions or performance, statements of belief and any statements of assumptions underlying any of the foregoing. These statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, general economic conditions particularly as they relate to demand for our products and services; competitive factors; changes in operating expenses; our ability to raise capital as and when we need it and other factors. Live Current Media, Inc. assumes no obligation to update these forward-looking statements to reflect future events or actual outcomes and does not intend to do so.

SOURCE: Live Current Media Inc.

View source version on accesswire.com:
https://www.accesswire.com/734106/Live-Current-Media-Inc-Completes-Acquisition-of-Influencer-Marketing-Technology-Company-GoFamer-Oy

FAQ

What is the significance of LIVC's acquisition of GoFamer Oy?

LIVC's acquisition of GoFamer Oy enhances its influencer marketing capabilities, allowing for better brand-influencer alignment through advanced analytics.

How will the GoFamer acquisition impact Live Current Media's business?

The acquisition is expected to provide synergies that strengthen Live Current Media's position in the $104 billion creator economy, facilitating better services for brands and creators.

What technology does GoFamer bring to Live Current Media?

GoFamer brings a patent-pending dynamic ranking metric and an end-to-end influencer optimization engine, which offers valuable insights for brands and creators.

When was the acquisition of GoFamer completed by Live Current Media?

The acquisition of GoFamer by Live Current Media was completed on January 5, 2023.