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Grom Social Enterprises (NASDAQ: GROM) has announced its partnership with Curiosity Ink Media and Toon2Tango to develop Santa.com into a CGI animated musical holiday special. This project is linked to Grom's upcoming e-commerce initiative, launching in November 2021, which aims to engage users with a virtual North Pole experience. The holiday retail market is projected to surpass $1 trillion this year, with e-commerce sales expected to exceed $206 billion, highlighting significant market potential for Grom's offerings.
Curiosity Ink Media, recently acquired by Grom Social Enterprises (NASDAQ: GROM), announced the launch of a new intellectual property franchise, Thunderous. This franchise will explore a young Indigenous American girl's journey to connect with her heritage, starting with a graphic novel aimed at young readers. The initiative aims to extend into various media, including potential consumer products and a TV series.
Russell Hicks, Chief Content Officer, emphasized the importance of Indigenous storytelling, while Grom's CEO Darren Marks highlighted the monetization potential of this IP as part of Grom's business strategy.
Grom Social Enterprises (NASDAQ: GROM) has announced a strategic partnership between its acquisition, Curiosity Ink Media, and the production company Toon2Tango, to create an animated preschool series titled Baldwin's Big Adventure. This series will be central to a new franchise, with a corresponding book launching in Spring 2022. The collaboration aims to enhance Curiosity's IP development and expand its reach in family entertainment globally, addressing local cultural adaptations for a broader audience.
Grom Social Enterprises (NASDAQ: GROM) announced a partnership between its subsidiary, Curiosity Ink Media, and Dynamite Entertainment to produce children's books based on Curiosity's original intellectual properties. The collaboration aims to launch titles starting spring 2022, including "Baldwin's Big Adventure" and an activity book based on PAW Patrol. Dynamite will also distribute Curiosity's catalog of licensed properties. This partnership is expected to broaden the appeal of both companies by promoting reading among younger audiences and fostering a love for storytelling.
Grom Social Enterprises, Inc. (NASDAQ: GROM) has successfully closed its public offering of 2,409,639 units at $4.15 each, generating approximately $10 million in gross proceeds. Each unit consists of one share of common stock and one warrant exercisable at $4.565 over five years. Additionally, underwriters received a 45-day option for 361,445 extra shares. The offering was registered with the SEC on June 16, 2021. Grom Social focuses on providing a safe social media platform for children under 13 and operates subsidiaries that produce original content and educational services.
Grom Social Enterprises (NASDAQ: GROM) announced the acquisition of Curiosity Ink Media, which has partnered with Cepia LLC to expand the popular franchise, Cats vs. Pickles. This collaboration will develop an original series and related publishing content, leveraging the franchise's global appeal. The initiative aims to generate new revenue streams through content distribution, licensing, and consumer products, with the series set to include 11-minute installments. The unique non-dialogue format allows for immediate global marketability, enhancing GROM's position in entertainment for children.
Grom Social Enterprises, Inc. (NASDAQ:GROM) announced that its subsidiary, Top Draw Animation, is increasing production in response to rising demand for animated content as the entertainment industry reopens. Following a 45% increase in revenues and 58% increase in gross profits in Q1 compared to last year, Top Draw plans to utilize its unused production capacity in the second half of 2021. The company has also reinstated its animators training program to support production growth. CEO Darren Marks emphasized the potential for meaningful revenue opportunities from their growing suite of services and original content.
Grom Social Enterprises (NASDAQ: GROM) announced a public offering of 2,409,639 units priced at $4.15 each, aiming to raise approximately $10 million. Each unit consists of one common stock share and a warrant for one share at $4.565, expiring in five years. The offering includes a 45-day option for underwriters to purchase an additional 361,445 shares. Common stock and warrants will begin trading on the Nasdaq on June 17, 2021. The registration statement was declared effective by the SEC on June 16, 2021.