Orrick has advised Los Angeles –based Flipagram, the largest mobile video creators’ network, on its acquisition by China’s top content platform Toutiao. Toutiao aims to expand its footprint in the United States and intends to invest in and grow the Flipagram team, which will operate as an independent subsidiary. Financial terms were not disclosed.
Orrick has been advising Flipagram since 2014. The Orrick team advising on this transaction was led by corporate partner Karen Dempsey and M&A and private equity partner Mark Seneca, and included assistance by partners Eric Wall, Nancy Chen and Mike Yang, and associates Danny Lopez, Ahalya Hildreth, Stephanie Richards, Tim Greene and Katherine Hogan.