Ideanomics Divests Grapevine and Invests in Hoo.be by FNL Technologies
April 21, 2021 (Source) —
- FNL Technologies owns and operates social media platform hoo.be
- Ideanomics invests in FNL, with FNL acquiring Grapevine as part of the deal
Ideanomics (NASDAQ: IDEX) (“Ideanomics” or the “Company”), is pleased to announce an investment into FNL Technologies (“FNL”), to include the sale of Grapevine Village to FNL as part of the deal. The deal has Ideanomics injecting cash and stock consideration into FNL, in addition to FNL acquiring 100% of Grapevine Logic, Inc. from Ideanomics in exchange for approximately 20% ownership in FNL. The details of the transaction will be filed under form 8-k.
FNL Technologies owns and operates social media platform hoo.be, a popular online platform which enables online influencers, artists, athletes, personalities, and businesses provide followers with a single place to access all official social media platforms. Hoo.be is used by leading online influencers, artists, athletes, and more, including 50 Cent, Chris Paul, Manon Mathews, and Steve Aoki.
“We are delighted to make this investment into FNL, with their fast-growing hoo.be platform a strategic growth partner for Grapevine’s influencer marketing offering. Since announcing our planned divestiture of Grapevine, we have been looking for a strong partner which would allow Grapevine to flourish and Jordan and the team at FNL impressed us as a synergistic partner to help boost Grapevine’s growth and expansion plans going forward” said Alf Poor, CEO of Ideanomics.
“We’re grateful for the support of the whole team at Ideanomics, whose investment and network will open up significant doors to help us evolve and scale our platform. Our current mission is to help our core users monetize their platforms and drive new levels of awareness and traffic to their desired destinations. We’re beyond excited to work alongside the leaders of Grapevine, Kristen Standish & Charity Richins, who have a successful track record with years of experience in leading winning projects.” Said Jordan Greenfield, CEO of Hoo.be
hoo.be offers one hub for all of your online profiles, content, shops & more that audiences can access with one click – from any platform. Hoo.be solves the problem of being able to only feature one link at a time in your social media bio. Hoo.be has adopted the “invite-only” model of platforms in order to help users stand out in an increasingly fragmented & noisy online world. With high demand to join, hoo.be has already attracted popular users such as Chris Paul, Steve Aoki, Lewis Howes, Dayna Marie, 50 Cent, Katie Austin and others who have switched from competitors for a fresh new design and features that bring their social bios to life. The company plans to introduce new monetization options for their users, along with features for consumers to discover more from their favorites on social media – from NBA Allstars, to viral TikTok’ers, hoo.be plans to lead a new era in the social influencer & content creator space. Check out the top users currently trending on hoo.be.
Ideanomics is a catalyst for disruption to those industries where improvements in sustainability, transparency, and freedom of choice would have profound benefits on a global scale. The Ideanomics Mobility division is a service provider which facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions under our innovative sales to financing to charging (S2F2C) business model. Ideanomics Capital is focused on disruptive fintech solutions for the financial services industry. Together, Ideanomics Mobility & Capital provide our global customers and partners with leading technologies and services designed to improve transparency, efficiency, and accountability, and our shareholders with the opportunity to participate in high-potential, growth industries.
The company is headquartered in New York, NY, with operations in the U.S., China, Ukraine, and Malaysia.
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