Today the Nasdaq Stock Market notified that trading had been paused for Vico Ventures due to “further information needed” from the firm. “If Vinco Ventures, Inc. does not comply with Nasdaq’s request for more information, trading will stay paused” the note reads.
For the three months that concluded on September 30, 2021, Vinco Ventures, Inc. (NASDAQ: BBIG), a holding company for digital media and content technology, reported financial results. Executive Chairman and Chief Executive Officer of Vinco Ventures Lisa King said, “We are delighted with our operational developments in the quarter, which comprised critical building blocks of our vision to establish a worldwide media and content platform.”
Highlights of 2021’s Third Quarter Financial Results: On September 30, 2021, the Company had $149.9 million in cash, cash equivalents, and restricted cash. Third-quarter revenue fell 11.5% to $2.23 million from $2.52 million, mainly because of a reduction in personal protective equipment sales in the Edison Nation Medical segment.
Vinco Ventures is a venture capital firm focused on early-stage investments in software, data, and internet-enabled businesses. The Company aims to provide hands-on guidance and mentorship to high-potential startups to help them scale and grow into successful companies.
Vinco Ventures Inc.’s early-stage investments in software, data, and internet-enabled businesses. The Company aims to provide hands-on guidance and mentorship to high-potential startups to help them scale and grow into successful companies.
For their joint venture ZVV Media Partners LLC, Vinco Ventures, and ZASH Global Media and Entertainment Corporation purchased an 80% stake in Lomotif Private Limited. Following a beta test in the third quarter, Lomotif was formally launched in India this past weekend. With over 90,000 members, Social Kyte is one of India’s most popular influencer platforms. Users in India, a significant market for Lomotif, are steadily increasing.