IPower Announces Launch of New Joint Venture, Worldwide Social Media LLC

DUARTE, Calif., Feb. 14, 2022 (Globe NEWSWIRE) — iPower Inc. (Nasdaq:IPW) (“iPower” or the “Company”), a single of the main on line hydroponic machines suppliers and retailers, has entered into a joint enterprise (“JV”) with specified people and a social media internet marketing and enjoyment organization to build a social commerce system, International Social Media LLC (“GSM”).

The Company’s JV associates deliver a prosperity of social media marketing experience to the venture and iPower will offer its source chain and e-commerce know-how, developing a totally close-to-stop option for manufacturer manufacturers on the lookout to promote their products and solutions by way of social channels. iPower also ideas to leverage GSM for its own advantage in driving world wide brand and products recognition via TikTok and other media platforms. iPower will add $100,000 for a 60% fairness interest in the JV, in accordance with the phrases of the JV agreement.

“Social commerce is the swiftest rising group in the e-commerce marketplace and we are keen to take part in that advancement,” claimed iPower CEO Lawrence Tan. “Similar to our not too long ago introduced logistics joint undertaking, we have identified another reduced-value chance to enter a new providers classification that can also benefit our possess hydroponics small business. Our partners will leverage their abilities in social media advertising to build a strategic network of world-wide influencers that we can employ to raise iPower’s brand awareness and geographic publicity. We seem ahead to developing this enterprise and our new line of products and services in 2022 and past.”

About iPower Inc.

iPower Inc. is a person of the main on the internet merchants and suppliers of hydroponics machines and extras. iPower features countless numbers of stock maintaining models from its in-property models as very well as hundreds of other makes as a result of its web site, www.zenhydro.com, and its on the web platform partners. iPower has a various buyer foundation that includes both of those business businesses and persons. For a lot more information and facts, please stop by iPower’s web page at https://ir.meetipower.com/.

Forward-On the lookout Statements

All statements other than statements of historic simple fact in this announcement are forward-on the lookout statements. These ahead-hunting statements entail identified and unidentified dangers and uncertainties and are primarily based on present anticipations and projections about foreseeable future functions and monetary traits that iPower believes may possibly have an impact on its economical issue, results of functions, business enterprise strategy and money requirements. Traders can recognize these ahead-looking statements by words and phrases or phrases this kind of as “could,” “will,” “assume,” “anticipate,” “goal,” “estimate,” “intend,” “strategy,” “feel,” “prospective,” “continue,” “is/are possible to” or other related expressions. iPower undertakes no obligation to update forward-hunting statements to reflect subsequent taking place functions or conditions, or improvements in its anticipations, other than as may be expected by regulation. Whilst iPower believes that the expectations expressed in these forward-wanting statements are acceptable, it can’t assure you that this kind of expectations will transform out to be proper, and iPower cautions investors that true final results may differ materially from the anticipated success and encourages investors to critique other elements that could have an effect on its long run benefits in iPower’s registration statement and in its other filings with the SEC.

Investor Relations Make contact with

Sean Mansouri, CFA
Elevate IR
(720) 330-2829


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Supply: iPower, Inc.

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