Triller to take tiller at Sea Change | Media Investment | Business | News | Rapid TV News
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Having spent the past three years or so embarking on a corporate restructuring including the acquisition of Xstream, streaming, linear TV, and video advertising technology provider Sea Change has entered into a reverse merger with Triller Hold Co LLC (TrillerVerz).
SeaChange 8 JUly 2021
Ostensibly a rival to TikTok, TrillerVerz calls itself a “first-of-its-kind” company consolidating technology and content platforms to lead to Web3.0. It pairs music culture with sports, fashion, entertainment, and influencers through a 360-degree view of content and technology and believes that creators deserve to own, manage, distribute and monetise their content, offering greater creator control, extensibility and agency. TrillerVerz’s app is used by musicians, celebrities, athletes, and overall culture setters, reaching more than 350 million users worldwide.

TrillerVerz’s proprietary AI-based ecosystem is designed to enable content and experiences that unlock the vast relationships between creators, tastemakers, and influencers in the globe's most coveted demographic, the 18- to the 34-year-old marketplace. Its experiences span in-venue, pay-per-view (traditional media and digital), subscription, sponsorship, and advertising monetisation for its partner brands.

TrillerVerz also believes it is positioned to become a leading AI-powered social media platform for content, creators and commerce and is anticipated to be publicly traded on a US national exchange. The proposed business combination is expected to ultimately result in a value of the combined company at approximately $5 billion. After completing the merger, SeaChange will change its name to TrillerVerz Corp.

Upon closing, the combined company will be led by TrillerVerz’s CEO, Mahi de Silva, who will also become chairman of the board. Peter Aquino, president and CEO of SeaChange will join the TrillerVerz team.

Commenting on the merger, de Silva said: “Our strategy is to continue to build the world's largest stage for creators to distribute and monetise viral and engaging content with experiences that elevate culture. We believe that combining with SeaChange accelerates our advertising and marketing capabilities by extending our reach to cable, satellite, and OTT media. We believe the proposed Business Combination will enable investors to participate in the expected growth of TrillerVerz and enable TrillerVerz access to the capital markets, which we believe will help accelerate growth. We are so grateful to the millions of loyal fans who have helped us take TrillerVerz to the next level, without whom this would not have been possible."

Aquino added: "The business combination with TrillerVerz represents a tremendous opportunity to invest in the future of creativity. We believe that TrillerVerz's unmatched social media reach, Gen Z engagement, and the opportunity to meaningfully expand its global multi-platform presence across content, commerce, creators, and being at the forefront of e-commerce, adtech, and NFTs, including the metaverse, is a compelling investment with the potential to create significant value.”