STOCKHOLM, SWEDEN / ACCESSWIRE / December 15, 2023 / Bambuser AB (STO:BUSER)(FRA:5JL) In line with the previously announced strategic review of the business, Bambuser has today finalized the divestment of all shares in Jefferson AB to Ravenmedia. The purchase price amount to approximately SEK 22.3 million of which SEK 20 million was paid in cash at closing and approximately SEK 2.3 million was paid by way of issuance of a promissory note payable by the latest on 31 March 2024 with a customary 10 % interest per annum.
Aligned with the focus outlined in Bambuser's Q3 2023 report, the company is channeling its resources entirely into advancing its world-leading video commerce platform. The services previously provided by Jefferson AB, under the brand name Relatable ("Relatable"), will now be delivered through an emerging global partnership ecosystem.
Relatable is active in the media and marketing industry, delivering custom made influencer marketing strategies to large global consumer brands and direct-to-consumer startups. Relatable assist its clients with content creation, influencer marketing efforts on Instagram, TikTok and YouTube as well as paid media. Relatable has 22 employees and has an annual turnover of approximately SEK 70 million. Ravenmedia is part of an investment group based in Warsaw, Poland, focused on companies in the influencer, gaming marketing, research and advertising space.
The divestment will incur a realized loss from divestments of approximately SEK 85 million, to be reflected in Bambuser's Q4 2023 consolidated income statement. For January-September 2023, Bambuser would have reported an EBITDA of SEK -95.7 million without Jefferson AB, compared to SEK -93.0 million as previously reported. This strategic realignment underscores Bambuser's committed confidence in its video commerce platform's transformative potential.
About Bambuser
Bambuser is the world's leading video commerce company with the largest customer base in its industry. Over 350 brands from 40+ countries leverage Bambuser's solutions to drive customer engagement and sales.
Bambuser is a global company with headquarters in Stockholm and offices in New York, London, Paris, Tokyo and Turku. Bambuser's growing team speaks more than 30 languages and 62% of senior management is female.
Founded in 2007 as a livestreaming pioneer, Bambuser now offers the number #1 video commerce platform in the world, helping brands reshape their e-commerce strategies through the power of shoppable video.
Contact information
Corporate Communications, Bambuser AB
+46 8 400 160 00 | ir@bambuser.com
Certified Adviser
Carnegie Investment Bank AB (publ)
This information is information that Bambuser AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-12-15 13:25 CET.
Attachments
Bambuser reinforces its commitment to becoming the global leader in video commerce by divesting Jefferson AB to Ravenmedia
SOURCE: Bambuser AB
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