This NASDAQ is Gaining Market Share like BABA has. Glory Star (Nasdaq; GSMG) to Acquire Leading E-Commerce Co. YMT with a Global Logistics & Delivery Platform
Glory Star New Media Group Holdings Limited (NASDAQ:GSMG)
BEIJING, CHAOYANG, CHINA, April 27, 2021 /EINPresswire.com/ — This NASDAQ is Gaining Market Share like BABA. Glory Star New Media (Nasdaq; GSMG) to Acquire Leading E-Commerce Co. YMT with a Global Logistics & Delivery Platform
GSMG via YMT will Service 88 Countries with 100 Million Registered Users that will add Many Employees to GSMG
GSMG is an Undervalued NASDAQ that just Announced 137.5 Million in New Service contracts signed already in Q1 this year
GSMG Beat the Street recently with 88% Revenue Growth and proves they are a Media Giant.
GSMG has Partnered with the Largest Tech and E-Commerce Companies on the Planet such as ByteDance, E-Surfing Media, JD.com, China Mobile & China Telecom, GSMG is becoming a Media Giant
And Now TODAY:
Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) a leading mobile and online digital media and entertainment company in China, today announced that it has signed a letter of intent to acquire YMT Holding Limited (“YMT”), a leading integrated cross-border e-commerce platform in China. Under the terms of the agreement, Glory Star will issue restricted shares to acquire 100% of YMT. Upon merger closing, YMT will become a wholly owned subsidiary of Glory Star. The combined company will become a Global leader in globalized content-driven e-commerce, with a user base of more than 300 million people. Established in 2010 in China, YMT provides an independent cross-border e-commerce platform with over 100 million registered users in 88 countries, and over 800 thousand online products available for sale every day. YMT has built its own international logistics service and created a global closed-loop e-commerce and logistics system. YMT delivers XX packages a day on average and their XX employees manage the network in established logistics centers located in 13 metropolitan cities around the world, including New York, San Francisco, Los Angeles, London, Paris, Frankfurt, and Sydney. YMT has raised over US$100 million of capital from well-known institutions including Sina, SAIF Asia, Sailing Capital and China Merchants Capital. In 2020, it was named as one of the Hurun Global Unicorns.
Mr. Bing Zhang, Founder and Chief Executive Officer of Glory Star, commented, “There is substantial synergy between Glory Star and YMT. Glory Star is strong in creating high-quality lifestyle content through its short video and interactive live-streaming platform. We can help YMT to efficiently acquire more high-quality customers and improve user stickiness. At the same time, YMT can provide CHEER e-Mall and other Glory Star subsidiaries with efficient global supply chain management and easy access to high-quality and globally sourced consumer goods. Together, we can build an industry-leading platform integrating live streaming with ecommerce. We can develop more key opinion leaders (KOLs) and accelerate our e-commerce growth. The proposed merger between Glory Star and YMT should bring greater value and returns to the shareholders of both parties.” About Glory Star New Media Group Holdings Limited Glory Star New Media Group Holdings Limited is a leading mobile entertainment operator in China. Glory Star’s ability to integrate premium lifestyle content, including short videos, online variety shows, online dramas, live streaming, its Cheers lifestyle video series, e-Mall, and mobile app, along with innovative e-commerce offerings on its platform enables it to pursue its mission of enriching people’s lives. The Company’s large and active user base creates valuable engagement opportunities with consumers and enhances platform stickiness with thousands of domestic and international brands.
About Glory Star New Media Group Holdings Limited
Glory Star New Media Group Holdings Limited is a leading mobile entertainment operator in China. Glory Star’s ability to integrate premium lifestyle content, including short videos, online variety shows, online dramas, live streaming, its Cheers lifestyle video series, e-Mall, and mobile app, along with innovative e-commerce offerings on its platform enables it to pursue its mission of enriching people’s lives. The Company’s large and active user base creates valuable engagement opportunities with consumers and enhances platform stickiness with thousands of domestic and international brands.
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