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Grom Holdings evolves after sale to Illumination America

Now named Grom Social Enterprises, the company will operate through four subsidiaries, one of which will trade publicly on venture stage market OTCQB.
August 23, 2017

Florida-based Illumination America has completed its acquisition of Grom Holdings, which will now operate as Grom Social Enterprises and will be comprised of four wholly owned subsidiaries: Grom Social, TD Holdings Limited, Grom Educational Services and Grom Nutritional Services.

Additionally, the company has announced that Grom Social will begin trading publicly on the OTCQB venture stage market under the symbol “ILLU.” According to Grom Social Enterprises CEO Darren Marks, the company aims to create shareholder value, access available capital and obtain broader recognition by trading publicly.

Illumination America acquired all issued and outstanding common shares of Grom Holdings in exchange for the issuance of an aggregate of 110,853,883 restricted shares of its common stock, representing roughly 92% of Illumination’s issued and outstanding shares.

As for the new company’s subsidiaries, Grom Social will continue to operate as a social media network for children. Grom Social was founded in 2012 by then 11-year-old Zach Marks as a safe social media destination for kids ages six to 16 that also offers advertisers with opportunities to reach this young demo. Grom Social has grown to more than five million total users in 200 countries.

TD Holdings Limited is a Hong Kong corporation acquired by Grom in July 2016. TD Holdings Limited is the parent company of Top Draw Animation (TDA), a Philippines-based 2D-animation service studio behind Hasbro’s My Little Pony and Disney Animation’s Penn Zero: Part-Time Hero. With TDA under its wing, Grom Social is able to produce a range of animated content in-house.

Grom Educational Services operates the company’s NetSpective WebFiltering services, which is provided to schools and libraries. Grom Nutritional Services, meanwhile, is a corporation through which Grom Social Enterprises intends to market and distribute a nutritional fruit supplement to children. The supplement will be available in four flavors and is expected to bow by the end of this year.

Grom Social Enterprises will operate its existing LED business with Illumination America moving forward, until a decision is made regarding the future of the business.

About The Author
Elizabeth Foster is Kidscreen's Senior Writer. Contact Elizabeth at efoster@brunico.com

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