OOOOO Joins Forces With Teddy Sagi to Support Global Expansion
07 October 2021 - 11:00PM
OOOOO Entertainment Commerce Limited (“OOOOO” or the “Company”)
(OOOO:TSXV), a mobile commerce platform, is pleased to announce
that the Company has joined forces with Teddy Sagi, technology and
real estate billionaire and owner of LabTech – a property holding
and management company which among other assets owns the vast
majority of London’s iconic Camden Market.
Globe Invest Limited, Teddy’s family office and
investment vehicle, has agreed to provide consulting services to
OOOOO, providing strategic input in its international studio
expansion and M&A.
This week will see the launch of a live
broadcast studio in the centre of Camden Market for retailers,
brands and entrepreneurs to broadcast their products and services
during live video commerce via the OOOOO app.
Teddy, an industry leading entrepreneur and his
group bring a wealth of tech, e-commerce and extensive business
experience to the tech start-up, OOOOO. In 1999, Teddy founded
Playtech, one of the world’s leading online gaming software. Since
then, Teddy has divested Playtech and diversified his business
interests into retail, technology and software development, online
security and property. He was the majority owner of SafeCharge, a
global payments technology group and is the majority shareholder of
Kape, an AIM-listed leading digital security software company
providing a wide range of privacy and security products to
consumers. In property, taking a particular interest in the most
vibrant areas of London, Teddy has developed urban communities
backed by a vision to transform the way we work, live and
network.
Interactive video commerce continues to explode
as a mega-trend in China, estimated to reach $305 billion this year
according to Forbes. OOOOO are focused on delivering a technology
platform and app to enable brands, retailers, and entrepreneurs to
embrace the live stream economy. Having launched in November 2020,
the OOOOO platform has seen over +300,000 installs to date and
successfully onboarded leading brands across fashion, sport,
beauty, and wellness.
Sam Jones, CEO of OOOOO, comments: “The
opportunities in live commerce are truly global and only just
beginning. In order for us to participate in this shift in retail,
we need to provide technology, studios and training in many
locations. Teddy is a truly global player and I am so excited that
he will be part of this journey. Globe Invest will provide us with
strategic input in our rapid expansion of international studios and
advice on M&A”.
Teddy Sagi comments: “I am very excited to be
partnering with Sam Jones and the team at OOOOO. We have already
started to build studio infrastructure to allow Camden Market to
become a hub for creators and brands in the live stream economy. In
addition, I want to assist OOOOO building a network of studios in
the best cities of the world and identify strategic acquisitions to
position OOOOO as a leader in entertainment commerce”.
About OOOOO Entertainment
Commerce
OOOOO Entertainment Commerce operates a
technology platform that enables retailers, brands and
entrepreneurs to share product-based opinions directly to consumers
through live, interactive, shoppable videos. The platform also
offers gamification and social features which reward the community
for helping to grow the user base, reducing the need for
traditional ad networks.
The Company was founded in 2020 by Sam Jones and
Eric Zhang and has offices in Oxford and Shanghai.
For further information please contact:
OOOOO Entertainment Commerce Limited
Tom Judge, Chief Operating Officer |
Investor Relations |
604.265.0771 |
416.842.9003 |
tom@ooooo.com |
investors@ooooo.com |
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actual results, performance or achievements of OOOOO or the
industry may be materially different from those implied by such
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information that may be contained in this news release include
statements regarding: growth and future prospects of our business;
our perceptions of the industry and markets in which we operate and
anticipated trends in such markets; expectations regarding the
operation of our app; and our future revenues. Material factors or
assumptions that were applied in drawing a conclusion or making an
estimate set out in the forward-looking statements may include, but
are not limited to, our ability to execute on our business plan,
increase visibility amongst consumers and convert users to revenue
producing subscribers and the success of the business of our
partners. Forward-looking statements involve significant
uncertainties, should not be read as a guarantee of future
performance or results, and will not necessarily be an accurate
indication of whether or not such results will be achieved. A
number of factors could cause actual results to differ materially
from the results discussed in the forward-looking statements,
including, without limitation: those relating to potential
disruptions to product delivery; failure to meet regulatory
requirements; changes in the market; potential downturns in
economic conditions; availability of financing (as necessary);; and
other risk factors described in our Filing Statement which is
available on SEDAR at www.sedar.com. These risks, as well as
others, could cause actual results and events to vary
significantly. Accordingly, readers should exercise caution in
relying upon forward-looking statements and OOOOO undertakes no
obligation to publicly revise them to reflect subsequent events or
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