Tongji Healthcare Group (OTC: TONJ) has closed its acquisition of West of Hudson Group Inc., sole owner of a collection of Southern California scenic mansions known as the Clubhouse. The acquisition was completed on Nov. 12, 2020. The Clubhouse includes some of the most widely followed social media influencers who together have amassed an estimated follower base reaching more than 90 million. TONJ reported that industry trends point to the growing dominance of social media influencers in establishing market positioning and leadership among new consumer brands. One industry expert predicted global social media ad spend to gain 20% this year, totaling an estimated $84 billion and ranking as the third-largest advertising channel, behind TV and paid search. Social media ad spending overtook print media ad spend last year, and that trend is expected to continue in the coming years. In addition to news of the acquisition, TONJ filed official paperwork with the state of Nevada to changes its name from Tongji Healthcare Group Inc. to Clubhouse Media Group Inc. That petition is awaiting approval from FINRA. “We believe The Clubhouse has significant proprietary value that can be tapped in service of either deals with outside brands or the popularization and expansion of our own in-house branding projects,” said Tongji CEO Amir Ben-Yohanan in the press release.
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About Tongji Healthcare
Tongji Healthcare had previously operated Tongji Hospital, a general hospital with 105 licensed beds, offering a variety of medical care treatment areas. However, as a result of the West of Hudson Group Inc. acquisition, the company is moving entirely into the social media branding marketplace.
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