QYOU Media Buys MAXAMTECH Digital Ventures 2023
Toronto/Mumbai, On January 12, 2023, Indian mobile game and software developer Maxamtech Digital Ventures, which has been in business for six years, was bought by QYOU Media Inc. Maxamtech is 51% QYOU Media. The parties agreed on a multiple of EBITDA over 2023, 2024, and 2025 to buy the remaining 49%, although the price is unknown.
The goal of QYOU Media and The Q India for 2023 is to improve their direct-to-consumer products and make money off of their rapidly growing weekly audience of over 125 million young Indians.
Maxamtech. Indian mobile gaming is booming. KPMG reports 420 million Indian internet gamers, second only to China. Smartphones and youth spending drive it. Maxamtech’s Gaming 360 casual and free-to-play platform will sell $5 billion in mobile games by 2025. “Since the term sheet,” stated Maxamtech founder Xerxes Mullan. Q distribution channels can reach casual mobile gamers looking to explore new games. Indian mobile gaming is enormous. 2023 treats. “As we continue to diversify the items we give to our ever-growing audience of young Indians, casual mobile gaming was obviously at the top of the list of critical components,” said QYOU Media CEO and Co-Founder Curt Marvis.
Mobile gaming is popular. Maxamtech’s channel and influencer talents maximize Maxamtech’s synergy and growth.
The Company finished buying Maxamtech and gave more information about its payment of a cash commission of $240,288 and the issuance of 1,922,304 compensation options (each a “compensation option”) to Clarus Securities Inc., which acted as the sole agent and bookrunner for a syndicate during the “best-efforts” public offering of company units (“units”), which ended on November 30, 2009. 1,840,000 private placements included $7,500 in finder’s fees and compensating options to acquire 60,000. On January 9, 2023, the company granted 3,750,000 stock options with a $0.125 exercise price and a 2028 expiration and 1,875,000 restricted share units with standard vesting for 2022 services.
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QYOU Media, formed in 2016 in India and the US, creates, distributes, and monetizes content featuring internet celebrities and personalities. Our most popular brand, The Q, sends India high-quality content through broadcast TV, VOD, OTT websites and apps, mobile devices, and smart TVs. The Q, Q Marathi, Q Kahaniyan, Q Comedistaan, and Q-GameX reach over 125 million Indian households each week (live gaming).
Chtrbox was the first in India to use data to match firms with significant social media users. We make content and do influencer marketing for Hollywood studios, video game publishers, and big American companies. Over a billion individuals watch QYOU Media’s millennial and Gen Z content each month.
In India and the US, QYOU Media is a fast-growing creator-media company. They make, share, and make money from the work of digital media celebrities and social media personalities. By matching brands with influential social media influencers, Chtrbox leads India’s creative economy. On our platform, big U.S. studios, game publishers, and brands can work with artists and influencers to make content and market it.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Forward-looking statements are allowed by securities laws in this news release about buying a controlling share of Maxamtech Digital Ventures. “Expects,” “anticipates,” “intends,” and “likes phrases” are forward-looking statements. QYOU’s management may project future events or other variables in forward-looking statements. QYOU believes the assumptions underlying these forward-looking statements are reasonable, but the offering and close may not follow these expectations.
QYOU cannot control many of the risk factors that could cause actual outcomes to differ from forward-looking statements. QYOU’s SEDAR disclosure materials provide more information regarding its risks and uncertainties (www.sedar.com). As of the date of this news release or as otherwise shown, QYOU’s plans may change. Except as required by law, QYOU does not publicly update or alter forward-looking statements.