NEW YORK, April 21, 2021
/PRNewswire/ -- 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
About 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.
About Ideanomics
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.
Safe Harbor Statement
This press release contains certain statements that may include
"forward looking statements". All statements other than statements
of historical fact included herein are "forward-looking
statements." These forward-looking statements are often identified
by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involve known and unknown risks
and uncertainties, and include statements regarding our intention
to transition our business model to become a next-generation
financial technology company, our business strategy and planned
product offerings, our intention to phase out our oil trading and
consumer electronics businesses, and potential future financial
results. Although the Company believes that the expectations
reflected in such forward-looking statements are reasonable, they
do involve assumptions, risks and uncertainties, and these
expectations may prove to be incorrect. You should not place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. The Company's actual results
could differ materially from those anticipated in these
forward-looking statements as a result of a variety of risks and
uncertainties, such as risks related to: our ability to continue as
a going concern; our ability to raise additional financing to meet
our business requirements; the transformation of our business
model; fluctuations in our operating results; strain to our
personnel management, financial systems and other resources as
we grow our business; our ability to attract and retain key
employees and senior management; competitive pressure; our
international operations; and other risks and uncertainties
disclosed under the sections entitled "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" in our most recent Form 10-K and Form 10-Q
filed with the Securities and Exchange Commission, and similar
disclosures in subsequent reports filed with the SEC, which are
available on the SEC website at www.sec.gov. All
forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by
these risk factors. Other than as required under the securities
laws, the Company does not assume a duty to update these
forward-looking statements.
Investor Relations and Media Contact
Hoo.be
Kayla Birmingham
press@hoo.be
Ideanomics, Inc.
Tony Sklar, SVP of Investor
Relations
1441 Broadway, Suite 5116 New York,
NY 10018
ir@ideanomics.com
Valerie Christopherson / Lora
Wilson
Global Results Communications (GRC)
+1 949 306 6476
valeriec@globalresultspr.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/ideanomics-divests-grapevine-and-invests-in-hoobe-by-fnl-technologies-301273758.html
SOURCE Ideanomics