WOODLAND HILLS, Calif.–(BUSINESS WIRE)–
Vertical interest social media network, CrowdGather, Inc. (CRWG), today announced that it has closed its Merger Agreement with Plaor, Inc. Pursuant to the Merger, the shareholders of Plaor received 55,075,800 shares of common stock of CrowdGather. After the completion of the merger, CrowdGather will have a total of 116,733,508 shares of common stock issued and outstanding. Additionally the company has appointed Hazim Ansari to the Company’s Board of Directors.
In his 16 years as an intellectual property attorney, Hazim has assisted dozens of emerging companies in raising financing, establishing critical joint ventures, and closing foundational revenue deals. Hazim has co-founded several companies, including Novel IP which is a pioneer in offshore IP industry and Plaor which recently merged with CrowdGather, and successfully built them through to profitability and/or acquisitions. Hazim received his B.S. in Chemical Engineering from Stanford University and his J.D. from Loyola Law School (magna cum laude).
“We believe this merger positions our company to capitalize on much higher growth opportunities in gaming and mobile applications,” said CrowdGather’s Chairman and CEO, Sanjay Sabnani. “Additionally, we are excited to have someone of Hazim’s experience join our team. His expertise as an entrepreneur along with his extensive transactional experience makes him a perfect addition and complement to our team as we seek to grow our catalog of games and apps.”
“I am excited by CrowdGather’s vision for the social gaming industry. The company is building a business that takes advantage of the growth opportunities in social gaming while accounting for, and leveraging, the financial realities of the market”, said Hazim Ansari. “I look forward to helping scale its gaming asset acquisition efforts.”
