Xcel Brands Announces Its 30% Investment In ORME, A Short-Form Video Marketplace; No Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Xcel Brands has announced a 30% investment in ORME, a New York-based short-form video marketplace. ORME focuses on content created by shoppers, creators, influencers, and brands in the digital space. The platform was co-founded by Xcel Brands and KonnectBio, Inc. No financial terms of the investment were disclosed.
January 24, 2024 | 10:27 pm
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Xcel Brands' 30% investment in ORME could signal strategic growth and diversification, potentially creating positive sentiment among investors.
Xcel Brands' investment in ORME indicates a strategic move to diversify and tap into the growing market of digital content creation and consumption. While the lack of disclosed terms makes it difficult to assess the financial impact, the investment could be seen as a growth opportunity, potentially leading to a positive short-term impact on XELB's stock price. However, the actual effect will depend on investor perception of the synergy between XELB's core business and ORME's platform.
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