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CMGR - Clubhouse Media Inc News Story

$6 -0.5  -7.8%

Last Trade - 11/05/21

Consumer Cyclicals
Mid Cap
Market Cap £433.3m
Enterprise Value £434.8m
Revenue £716k
Position in Universe 3331st / 6852

Clubhouse Media Announces Fully Executed LOI to Acquire Top Global Meme Account, Picking Up 7-figure Net Income and a Billion Monthly Impressions

Wed 3rd March, 2021 1:00pm
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LOS ANGELES, March 03, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – Clubhouse
Media Group, Inc. (OTCMKTS:CMGR) (“Clubhouse Media” or the
“Company”), an influencer-based marketing and media firm with a vast
aggregate global social media reach, is excited to announce the signing of a
non-binding Letter of Intent (the “LOI”) on February 28(th) 2021 for the
acquisition of “The Tinder Blog” (
(“TTB”), one of the largest and most successful Instagram meme accounts in
the world. The Tinder Blog is an official partner of Facebook.

The Tinder Blog boasts over 4.2 million followers accrued over its six-year
existence and an annual net income in excess of one million dollars on more
than one billion web impressions per month. The Tinder Blog has also attracted
major advertisers, including McDonald’s, Amazon Prime, Dunkin Donuts, and
Samsung, among others.

The Tinder Blog was founded and cultivated by Joseph Yomtoubian, a Los Angeles
native, MBA, and finance consultant who launched the page in 2015.

“This is a significant deal for Clubhouse because we have been actively
looking to expand our reach beyond traditional influencers to incorporate and
reach more channels, niches, and outlets in the social media landscape,”
commented Chris Young, Co-Founder of Clubhouse Media Group. “Joseph is a
wealth of knowledge that can’t be taught. He is widely regarded as a leading
Instagram and social media expert. We feel The Tinder Blog is an ideal match
that offers tremendous complementarity within the constellation of our current
social media reach and Intellectual Property portfolio. The Tinder Blog’s
evergreen content creates a natural long-tail business. Combined with
hyper-loyal fandom, these aggregator accounts make for highly sustainable and
scalable businesses that complement our mission and portfolio.”

Management notes that the Company’s recent acquisition of Magiclytics offers
additional value in the course of acquiring and monetizing a
multi-channel-network strategy spanning social media platforms.

Magiclytics leverages a massive database and predictive analytics driven by
proprietary AI and machine-learning technology to project returns from
product-influencer pairings in social media marketing campaigns. Clubhouse
Media Group will be able employ Magiclytics technology to further identify
optimal accounts to acquire across multiple social media platforms and to
maximize revenues from acquired accounts, including The Tinder Blog, following
acquisition and integration into the Clubhouse Media ecosystem.

The Company plans to acquire additional aggregator accounts in the months
ahead, including deals in the comedy, travel, pet, and personal health market
segments. Management believes these accounts represent an opportunity for
long-tail appeal with robust engagement and significant long-term recurring
revenue stream potential.

Young added, “For some perspective, the only other meme page acquired before
this, according to our research, was Daquan, which was acquired by Warner
Music Group in 2020 for $85 million. At the time of the acquisition, Daquan
had approximately 6.7 million followers and about 3 billion impressions per
month. At present, TTB doesn’t trail those metrics by much, and we believe
it has the potential to flourish in the Clubhouse Media ecosystem, and to
provide our shareholders with immense value in the process.”

About Clubhouse Media

We believe Clubhouse Media represents the future of influencer media and
marketing, with a global network of professionally run content houses, each of
which has its own brand, influencer cohort and production capabilities.
Clubhouse Media offers management, production and deal-making services to its
handpicked influencers, a management division for individual influencer
clients, and an investment arm for joint ventures and acquisitions for
companies in the social media influencer space. Clubhouse Media’s management
team consists of successful entrepreneurs with financial, legal, marketing,
and digital content creation expertise.

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FORWARD-LOOKING STATEMENTS: This release contains "forward-looking statements"
within the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking statements also may
be included in other publicly available documents issued by the Company and in
oral statements made by our officers and representatives from time to time.
These forward-looking statements are intended to provide management's current
expectations or plans for our future operating and financial performance,
based on assumptions currently believed to be valid. They can be identified by
the use of words such as "anticipate," "intend," "plan," "goal," "seek,"
"believe," "project," "estimate," "expect," "strategy," "future," "likely,"
"may," "should," "would," "could," "will" and other words of similar meaning
in connection with a discussion of future operating or financial performance.

Examples of forward-looking statements include, among others, statements
relating to future sales, earnings, cash flows, results of operations, uses of
cash and other measures of financial performance.

Because forward-looking statements relate to the future, they are subject to
inherent risks, uncertainties and other factors that may cause the Company's
actual results and financial condition to differ materially from those
expressed or implied in the forward-looking statements. Such risks,
uncertainties and other factors include, among others such as, but not limited
to economic conditions, changes in the laws or regulations, demand for
products and services of the company, the effects of competition and other
factors that could cause actual results to differ materially from those
projected or represented in the forward-looking statements. Any
forward-looking information provided in this release should be considered with
these factors in mind. We assume no obligation to update any forward-looking
statements contained in this report.

Corporate Contact
Simon Yu, MBA
Phone: +1-702-479-3016

Investor Relations
Tiger Marketing & Branding Agency 

Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
310.299.1717 Office

GlobeNewswire, Inc. 2021
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