BOCA RATON, FL — (Marketwired) — 10/17/17 — Grom Social Enterprises (OTCQB: GRMM) (“Grom” or the “Company”), a holding company for five wholly-owned operating subsidiaries, today announced that its Grom Social Inc. subsidiary had surpassed 6 million users. Grom Social, Inc. is a leading social networking community for kids between the ages of five and 16. In addition to its 6 million children users, Grom Social, Inc. has a nearly equivalent number of parent and guardian users, so that Grom Social, Inc.–s aggregate total number of users is approximately 12 million individuals.
Having surpassed this milestone, Grom now has:
Over 12 million users since inception including parents and guardians
A Global user base with users in over 200 countries and currently adding 300,000 new users signing up every month
One of the longest session duration times in the social media industry, with users spending an average of 52 minutes on the site each visit
“This is a momentous event in our Company–s history,” said Darren Marks, Grom–s Chairman and CEO. “From a concept just five short years ago, we have grown into a true destination site for children and parents alike as the safest social networking site on the web. We believe our success is due to our relentless dedication to providing –original content– while providing a positive, safe experience that allows kids to communicate on a global basis in an atmosphere that promotes fun, friendship and education.”
Zach Marks, the 17 year old founder of Grom Social, says, “It is only fitting that we surpass this important milestone in October, which is National Bullying Prevention Month. Cyber-Bullying prevention is one of the many causes we support in our crusade to create responsible digital citizens as we advance the interests of children worldwide. I am incredibly proud of the progress we have achieved, and I–m even more excited about our opportunity to expand Grom as the leading destination for kids to use social media in a safe and friendly way.”
“As a public company Grom is focused on generating growth to build value for our shareholders, and we believe our 50% growth in combined users over the last year is indicative of our long-term potential,” said Melvin Leiner, Grom–s Executive Vice President.
Grom Social Enterprises, Inc. owns five separate subsidiaries, including Grom Social, a safe social media platform for kids between the ages of five and 16. Since its beginnings in 2012, Grom Social has attracted kids and parents with the promise of a safe and secure environment where their kids can be entertained and can interact with their peers while learning good digital citizenship.
The Company also owns and operates Top Draw Animation, Inc., an award-winning animation company which produces animated content for Grom Social and other high-profile media properties such as Tom and Jerry, My Little Pony and Disney Animation–s Penn Zero: Part-Time Hero. In addition, Grom Educational Services provides web filtering services up to an additional two million children across 3,700 schools and libraries, and Grom Nutritional Services is in the process of creating a line of healthy nutritional supplements for children.
For more information please visit Grom–s website at .
This press release may contain forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues and any payment of dividends on our common stock, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors. Among other matters, the Company may not be able to sustain growth or achieve profitability based upon many factors including, but not limited to general stock market conditions. We have incurred and will continue to incur significant expenses in our expansion of our existing and new service lines, noting there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. Additional service offerings may expose us to additional legal and regulatory costs and unknown exposure(s) based upon the various geopolitical locations where we will be providing services, the impact of which cannot be predicted at this time. All forward-looking statements speak only as of the date of this press release. We undertake no obligation to update any forward-looking statements or other information contained herein. Stockholders and potential investors should not place undue reliance on these forward-looking statements. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements in this report are reasonable, we cannot assure stockholders and potential investors that these plans, intentions or expectations will be achieved. Except to the extent required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, a change in events, conditions, circumstances or assumptions underlying such statements, or otherwise.
Contacts
Darren Marks
President & CEO
954-579-9595
Mel Leiner
Vice President
954-551-1813
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