BEIJING, Sept. 1, 2021 /PRNewswire/ -- CCV portfolio Lomotif has been acquired by ZVV Media, a joint venture of ZASH Global Media and Entertainment Corporation ("ZASH"), and Vinco Ventures. CCV is the first institutional investor of Lomotif, who led the company's series A round in 2018. Until the acquisition, CCV is the largest institutional shareholder of the company.
Lomotif is one of the top short form video platforms in the world with hundreds of millions of installs around the world and tens of millions of monthly users (*Sensor Tower data, June 2021), out of which over 31 million are on-platform monthly active users ("MAUs"). Since CCV's investment in 2018, the company has been among the fastest rising video-sharing social networking platforms, with 225+ million Lomotif app installations in over 200 international locations in 300+ languages. In accordance with outdoors monitoring providers, over 300 million movies are played on the platform monthly. Over 10 billion atomic UGC (User Generated Content) clips have been used to create greater than 750 million movies on the platform since its launch.
"This is an exciting time for us here at Lomotif, as we're building one of the largest short form video platforms in the world in such short period of time," said Paul Yang, CEO of Lomotif. "With this acquisition, we are taking Lomotif to the next level. Combining new touch points in the media and entertainment industry such as syndicated television and music with short form video and user generated content is currently one of the fastest growing segments. We are very well positioned to be one of the top video platforms for the long term. We have seen tremendous growth since our still-short cooperation. Thanks to marketing and positioning strategies brought from the ZASH, Vinco Ventures and ZVV Media team. I am excited about the bright future for us."
Mr. Wei Zhou, Founding Partner of CCV extended his congratulations to Lomotif on joining the ZVV Media family: "Lomotif alongside ZVV will bring new breakthroughs in the video sharing ecosystem and leisure business globally. CCV invested in Lomotif's series A round in 2018, impressed by the team's visionary go-global strategy and its deep understanding of the Z-generation and globalization. The company's continuous strong growth in the past 3 years has proved us right."
"Social network and content platforms have always been CCV's strong foci, and we have accompanied great companies in this area such as Asia Innovation Group, Tantan, Ximalaya, VeeR, and MetaApp through their growth. However, our exploration towards this way does not end here. We are firm believers and long-term bullish on technology export. In 2018 CCV invested in MetaApp's series A round and kept investing in its series B and C rounds afterwards. Today MetaApp has been the most promising company in the Chinese metaverse landscape. We have also invested in leading companies in virtual beings, Cishi and Yunbo. Cishi is a virtual being content provider with huge potential in metaverse and Yunbo plays a key role in the motion caption for virtual beings. New generation in China has raised new social and consumption behaviors, and CCV will continuously look for high potential companies in this direction," Wei added.
About CCV
China Creation Ventures (CCV) was founded by former KPCB China Managing Partner, Wei Zhou. With over 500 million USD dollars and 2.5 billion RMB under management, CCV focuses on early and growth stage investments, including enterprises solutions, cutting-edge technologies, digital healthcare, and products targeting the new generations. During the past 14 years, our team have backed iconic companies from the early stage, including JD.com (Nasdaq: JD), CreditEase (NYSE: YRD), Rong360 (NYSE: JT), Himalaya FM, Tantan (acquired by Nasdaq MOMO), Venustech(002439), Q&C silicon Co., LTD(SSE: 605183), MetaApp, Shukun Technology, Quicktron, Cowa Robot, Perfect Corp., IceKredit, Transsnet Finance and etc. Up to now, the unicorns CCV team invested reached 14. More about CCV at www.ccvcap.com.
About Lomotif
Lomotif is the main video-sharing social networking platform that's democratizing video creation. For the reason that firm was co-founded by video fanatic Paul Yang in 2014, Lomotif has been granted three expertise patents uniquely targeted on empowering creators to share and watch quick movies with ease by remix and collaboration. Yang's daring imaginative and prescient is to construct the world's largest video vocabulary to speed up the world's transition to video-first expression. Lomotif, out there within the Apple and Google shops, is a downloadable app for hip hop, rap, and concrete tradition throughout America and Latin America. Lomotif is one in every of 5 companions chosen by Snapchat for a bi-directional integration for posting tales between the 2 platforms. For extra details about Lomotif Non-public Restricted, please go to Lomotif's web site at www.lomotif.com.
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SOURCE China Creation Ventures (CCV)
