QYOU Media Inc. Completes Closing to Acquire Chtrbox, a Leading Influencer Marketing Company in India
MUMBAI and TORONTO, June 15, 2021 /PRNewswire/ - QYOU Media Inc. (TSXV:QYOU; OTCQB: QYOUF) is pleased to announce that it has completed its closing to acquire 97% of Chatterbox Technologies Private Limited (brand name: Chtrbox), a leading award-winning influencer marketing company based in India. Details of the transaction were released on June 1, 2021.
Founded in 2016 out of Mumbai and Delhi, Chtrbox is a leader in data-driven influencer marketing, powering India's top brands to tell great stories at scale. Chtrbox offers brands a massive diverse pool of over 300,000 influencers, from top celebrities, digital stars, to micro influencers, mom bloggers and campus-based creators. Chtrbox has delivered campaigns for many of the top brands in India including P&G, Amazon, Flipkart, HP and dozens more.
As part of the acquisition, Pranay Swarup and Julie Kriegshaber will continue to act as Chief Executive Officer and Chief Operating Officer of Chtrbox, respectively.
While leading to a substantial expansion of QYOU Media's influencer marketing business in India, the addition of Chtrbox will deliver immediate and accretive capabilities to QYOU Media's India broadcast operations, accelerating plans to leverage India's burgeoning creator economy and further supporting the channel's content, advertising and e-commerce initiatives.
Curt Marvis, CEO and Co-Founder of QYOU Media Inc. commented, "We could not be more thrilled about welcoming Chtrbox into the QYOU Media family. The acquisition of Chtrbox's strong influencer business and team in India has advanced our business ahead by several years in terms of capabilities resulting from the acquisition. The future is bright for our combined businesses".
About QYOU Media
QYOU Media operates in India and the United States producing and distributing content created by social media stars and digital content creators. In India, we curate, produce and distribute premium content including television networks and video on demand ("VOD") for cable and satellite television, over-the-top ("OTT") and mobile platforms. In the United States, we manage influencer marketing campaigns for major film studios and brands. Founded and created by industry veterans from Lionsgate, MTV, Disney and Sony, QYOU Media's millennial and Gen Z-focused content reaches young consumers around the world. Experience our work at www.qyoumedia.com and www.theq.tv.
About Chtrbox
Chtrbox is a leading data-driven influencer marketing solution, powering India's top brands to tell great stories at scale. They enable visionary marketers to discover and collaborate with thousands of content creators, social media influencers, bloggers and passionate fans of their brand. Brands benefit by gaining customer attention, real engagement and growth in their business. Chtrbox (Chatterbox Technologies Pvt Ltd) was founded in 2016 in India, and is backed by experienced entrepreneurs and media personalities. Their work can be found at www.chtrbox.com.
Forward-looking Statements
This press release may contain "forward-looking information" and "forward-looking statements'' within the meaning of applicable securities laws, including, without limitation, QYOU Media's expectations regarding the completion of the acquisition and the follow-on closings, statements relating to the business and future activities of Chtrbox and QYOU Media and the sectors in which they operate. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, although considered reasonable by management, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance, including, without limitation, risks associated with the acquisition and acquisitions generally, risks related to failure to satisfy the closing conditions contained in the Share Purchase Agreement, the absence of material adverse changes or other events which may give a party a basis to terminate the Share Purchase Agreement and the ability of the parties to obtain the requisite approvals and consents. Additional risks and uncertainties regarding QYOU Media are described in its publicly available disclosure documents, filed by QYOU Media on SEDAR at www.sedar.com except as updated herein. The forward-looking statements contained in this news release represent QYOU Media's expectations as of the date of this news release, or as of the date they are otherwise stated to be made, and subsequent events may cause these expectations to change. Except as required by law, QYOU Media undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. Readers are cautioned not to put undue reliance on these forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE QYOU Media Inc.
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