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VANCOUVER, British Columbia, Oct. 07, 2021 (GLOBE NEWSWIRE) -- 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
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Forward Looking Information
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