LiveOne Enters $100B Coffee Market Acquiring Smyle Coffee; Financial Terms Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
LiveOne, Inc. (NASDAQ:LVO) has entered the $100 billion coffee market by acquiring Smyle Coffee. The company plans to leverage rapper and actor KYLE's 4.5 million monthly Spotify listeners and 6+ million followers for promotion. This move expands LiveOne Brands' lineup of celebrity products.
June 04, 2024 | 12:28 pm
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LiveOne, Inc. (NASDAQ:LVO) has acquired Smyle Coffee, entering the $100 billion coffee market. The company will use rapper and actor KYLE's large following for promotion, expanding its lineup of celebrity products.
The acquisition of Smyle Coffee allows LiveOne to enter a lucrative market and leverage KYLE's significant fanbase for promotion. This strategic move is likely to positively impact LVO's stock price in the short term.
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