Verb Technology Company (NASDAQ: VERB) stock gained attention as the company joined hands with TikTok Shop to enhance livestream shopping.
Verb Technology (VERB), the company behind the MARKET.live livestream social shopping platform, has unveiled a strategic partnership with TikTok Shop, earning the title of an official TikTok Shop Partner (TSP).
The partnership entails MARKET.live offering a range of services to TikTok Shop. These services encompass onboarding support for brands and influencers, content creation, and studio space rentals across the United States.
The newly forged alliance will fuel revenue growth for MARKET.live through a blend of service fees and a percentage of monthly revenue derived from TikTok stores established via their platform. Furthermore, TikTok will remunerate MARKET.live for achieving predefined performance benchmarks.
This partnership aims to revolutionize the e-commerce landscape on TikTok by leveraging MARKET.live’s expertise in livestream shopping. The collaboration will introduce comprehensive pricing packages tailored for TikTok Shop sellers, including shop operations, marketing initiatives, affiliate management, and content production.
MARKET.live recently organized an event in Miami on March 21, 2024, bringing together TikTok brands and influencers. Building on this success, a co-hosted exclusive event on April 25, 2024, will formally announce the partnership. Attendance is by invitation only.
Rory J. Cutaia, the CEO of VERB, voiced his optimism about the future of livestream shopping in the U.S. and the pivotal role of MARKET.live in shaping it. The company is determined to surpass the high expectations set by this partnership.
Verb Technology (NASDAQ: VERB) Stock Performance
VERB stock gained 0.36% to close at $0.28 on Wednesday. The traders had exchanged hands with 128,189,448 (128.18 million) shares compared to the average daily trading volume of 16.17 million.
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