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…