February 28, 2021
The equities market rally in the US could be coming to an end if rising bond yields are any indicator.
Yet, the buoyant market, driven by easy monetary policy, has already attracted scores of companies eager to tap capital markets flush with liquidity.
There were nearly 500 IPOs that raised $174 billion last year – half of the listings were SPACs, or special purpose acquisition companies. That trend has accelerated in 2021, with no signs of slowing. There have already been 190 SPACs listed on US stock exchanges this year, with more to come.
In Southeast Asia, Indonesia’s MNC Vision Networks was reported this week to be looking to merge its video streaming business with Malacca Straits Acquisition, the blank-cheque vehicle led by Ark Pacific Capital Management’s Kenneth Ng.
(BBIG) - Vinco Ventures, Zash Acquire 80% Stake In TikTok Rival Lomotif For $125M: Bloomberg
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ZASH to acquire TikTok rival Lomotif
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ZASH Global Media and Entertainment Corporation, a U.S. based entertainment, content and distribution company, announced on Thursday that Nasdaq listed Vinco Ventures, Inc. agreed to complete a merger, which according to Zash, will create the “acceleration and growth in live-streaming content, video-sharing, distribution and production within its own ecosystem.”
Zash aims “to invest, acquire and merge the best-in-class media, entertainment and content-focused technology companies globally,” according to a news release, which added the ultimate goal is “to build a ‘Virtual Hollywood,’” which the company argues is “the future of media.”
“What we’re doing here is we’ve started with the technology side and really focused on the eyeballs first because we knew the content would come and now we’re marrying the two,” Farnsworth told host Maria Bartiromo of the merger.