Tuesday, December 28, 2021 10:04 AM | Kyle Depontes
What is going on with LVO?
LiveOne, Inc. (LVO) stock jumped today after the company announced that it has entered into a binding Letter of Intent with Trader2B, an existing trading platform, to exclusively license and integrate Trader2b’s technology in all music categories in order to gamify LiveOne’s platform and user experience.
LiveOne will also have the exclusive option to purchase Trader2b’s business assets and operations within 180 days of the gamified platform’s release by LiveOne.
LVO is a global platform for livestream and on-demand audio, video, and podcast content in music and comedy.
Shares of LVO increased 10.95% to $1.52 as of Tuesday at 9:33 am.
What does this mean for LiveOne?
This proposed deal will be the 8th acquisition for LiveOne, and it demonstrates the company’s commitment to expanding its footprint and adding to its existing slate of technology.
The company’s new platform will begin with 25 music-related stocks, crypto, coins, and NFTs and will engage consumers, drive memberships and gamify trading so users can win prizes from LiveOne’s subsidiaries and partners based on their trading skills.
“We are excited to gamify LiveOne and offer our 100 million + audience the ability to win over $1 million in prizes,” said Robert Ellin, Chairman and CEO of LiveOne.
“This new platform will offer LiveOne memberships exclusive and original opportunities while keeping members informed about new artists, concerts, events, and industry news.”
As part of the license agreement, both companies have agreed to split net revenues of the gamified platform.
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