V-cube, Inc. announced that board of directors' meeting held on April 25, 2023, resolved to establish a new company (subsidiary). V-cube has resolved to establish a holding company to preside its Event DX Business to develop online and hybrid events in Japan and globally, which are expected to expand in the future. The management team of the new company will consist of Naoaki Mashita, Chairman and Group CEO of V-cube, Randy Jones, CEO of Xyvid.Inc, and David Kovalcik, founder of Xyvid.Inc and a director of V-cube.

Randy Jones has a proven track record of growing several startups in the U.S. as a professional manager and has experience in IPO in the U.S. Event DX Business group companies are leveraging their proprietary online and hybrid event platforms, as well as event management operations teams and studios around the world. The group is also working on the use of Web3 for events, events in the Metaverse and Implementation of AI-based functions such as automatic minute taking. As a consolidated subsidiary of V-cube, the new company intends to raise funds from external sources and expand the scale of the business not only through organic growth but also through M&A. It aims to be listed on the NASDAQ market in the United States within the next three to five years.