From social media to stock market
Social media has proved to be a big business and resulted in the creation of influencer content mansions that are content creation machines throughout Los Angeles. This business model has become so lucrative that one content mansion company, West of Hudson Group, made a deal to enter public trading.
Tongji Healthcare Group acquired West of Hudson through a reverse takeover that occurs when a private company (West of Hudson) is acquired by a preexisting public company (Tongji Healthcare) but ultimately has control. Tongji Healthcare Group is an entity from Las Vegas that was incorporated by a Chinese hospital in 2006 but had no assets by the end of 2019.
To facilitate the reverse merger, Tongji was acquired by the investors controlling West Of Hudson group including a New Jersey real estate operator Amir Ben-Yohanan and his business partners. Ben-Yohanan is the founder of West of Hudson Properties that owns and manages over $300 million in multifamily properties providing facilities for creator influencer mansions. West Of Hudson plans to rebrand the combined company for a new name Clubhouse Media Group reflecting the popular Beverly Hills creator mansion called The Clubhouse.
The deal leaves the newly formed company on the pink sheets market with speculative, tiny public companies trade and Tongji’s stock closed at $2.30 per share on Friday that was 38% below the highest price in August. Though penny stocks aren’t deemed too lucrative with investors considering it as a risky investment but can be popular for inexperienced investors active on simple trading platforms like Robinhood.
The influencer content mansion model generates revenue from the influencers that create the content for the managing group to sell in return for a free place to stay for the influencers. This business model influences the marketing and real estate markets as new forms of profits.
The only issue of this business model is the drama between influencers that creates a lot of stress on management and talent that ultimately leads to the collapse of the group. West of Hudson has experienced some of these problems as several of the houses have shut down with former influencer members have complained about problems of life in the house and management.
Only time will tell if going public will be helpful or hurtful to this business model that’s hard to determine as this is fairly unique.
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