Fyoosion: Grom Social Enterprises Acquires Proprietary Digital Marketing Platform

BOCA RATON, FL, Jan. 03, 2018 (GLOBE NEWSWIRE) -- Grom Social Enterprises (OTCQB:GRMM) ("Grom" or the "Company"), a social media company providing a safe networking environment for children ages five to 16, today announced that it has acquired the assets of New Jersey-based Fyoosion, LLC ("Fyoosion"). Included in the assets acquired is a proprietary software that utilizes a digital automation marketing platform for businesses of all types, enabling companies to efficiently generate sales leads and improve customer retention. Grom intends to use this marketing software with all of its existing businesses and to create new opportunities outside its current scope of business. Grom purchased these assets for 300,000 shares of its Common Stock, and assumed $262,357 in debt of which the Company has settled $165,286 in consideration for the issuance of 275,476 shares of its Common Stock, at a price of $0.60 per share."The acquisition of Fyoosion's assets helps us to complete a very productive 2017, and with this powerful automated software now in-house, positions us for growth as we head into 2018," said Darren Marks, Grom's Chairman and CEO. "In today's competitive environment, it is critical to maximize the impact of digital marketing dollars spent to increase sales leads and customer traffic. We expect to use this software to help accelerate the number of visitors to our GromSocial.com website and across each of our respective revenue streams, as well as to generate new sources of revenue with third parties. Finally, we are very fortunate to be able to add to our management team the co-founder of Fyoosion, Abhishek Jain, who will become Grom's Vice President ...Full story available on Benzinga.com