China Net Finance, March 7 Weimob Group recently announced that its subsidiary Shanghai Mengxun Information Technology *** referred to as "Shanghai Mengxun") and Shanghai Bibimbap Information Technology *** referred to as "Bibimbap Technology") and its founder shareholders signed an equity transfer agreement, a capital increase agreement and a shareholder agreement.
According to the agreement, Shanghai Mengxun acquired about 244% equity interest for a consideration of $6 million; With 25 million yuan to increase the capital of bibimbap technology, of which 6250,000 yuan is used as the new registered capital of Bibimbap Technology, and the rest is included in its capital reserve. After the completion of the above transfer and capital increase, Shanghai Mengxun will hold approximately 535% equity.
Weimob Group said that the group has laid out the short drama track through strategic investment and mergers and acquisitions of Bibimbap Technology. After the completion of this transaction, Weimob and Bibimbap Technology will complement and integrate their advantageous fields, deepen the originality of high-quality content, improve the content distribution capabilities of digital marketing, build a full-link short drama business including IP creativity, film and television drama production, finished film distribution, and user growth, expand more business scenarios that are expected to be deeply empowered by AI, and maximize the dividends brought by technological change.