There was a ecommerce site I posted maybe a year a

There was a ecommerce site I posted maybe a year ago. If I remember right, they wanted to add live shopping to their eCom site that had 'preferred brands'.

I don't remember the name of the company, but because I posted it here, there may have been a some kind of relationship to Verb.

I imagine there is a successful ecom site that sells products from a number of large brands and getting a cut of sales. Verb steps in, then has a relationship with these additional brands, adds live shopping...badabing badaboom, the rest is history.

I've seen this model very successful even without Live Shopping. Adding it into the mix can increase revenue. I posted a cosmetic company that was very successful and grew quick becoming the go to place for cosmetics from preferred brands.

Quote:

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On June 12, 2023, the Company’s Board approved the execution of a non-binding letter of intent (the “LOI”) to acquire certain assets of an ecommerce business (the “Target”) for its MARKET.live, livestream shopping business unit which the Company will retain (the “Acquisition”). The Target’s unaudited financial statements indicate that for the year-ended December 31, 2022, the Target generated transactions totaling approximately $9.5M in gross merchandise value (“GMV”) and was cash-flow positive. It was represented that the GMV was generated by the Target’s approximately 70,000 current active subscribers, each of whom receive daily auto-generated communications from the Target about the preferred brands and products the subscribers selected at sign-up, available for sale each day. Subject to the successful completion of the Acquisition, the Company intends to incorporate the Target’s technology and operations into its livestream shopping platform, MARKET.live, so that the transactions that comprise the Target’s GMV will be facilitated on and through the Company’s MARKET.live platform, potentially at higher margins. Potential corollary benefits of the transaction include the exposure of the MARKET.live shoppable entertainment programming to the Target’s 70,000 subscribers, possibly driving additional sales, among other benefits. Consideration for the proposed Acquisition will be a combination of cash and stock, structured as a seller note payable over 24 months; payments are subject to actual cash receipts as represented by the seller.

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