Hilco Streambank, a leading intellectual property advisory firm specializing in the valuation and sale of intangible assets, is selling the intellectual property assets of Mavatar (the “Company”) on behalf of Lynn Schoenmann, as chapter 7 trustee (the “Trustee”), including the patents, trademarks, domain names and source code for the Mavatar platform software. Offers are due October 13, 2020, and an auction will be held on October 15, 2020. The sale is subject to approval of the United States Bankruptcy Court for the Northern District of California, which is overseeing the Company’s chapter 7 bankruptcy case.
Mavatar created mobile and web applications which provide solutions for retailers, influencers and consumers. It offered mCart by Mavatar, a platform-as-a-service and omnichannel marketplace powered by blockchain that facilitates the creation of shoppable content, tracks sales and marketing dollars, and makes micro-payments to influencers.
Hilco Streambank Retained as Exclusive Agent to Market the Patents and Related Assets
Offers Due October 13, 2020; Auction Scheduled For October 15, 2020
With Mavatar’s technology, retailers are able to close the gap between their online and offline sales and marketing without any need for technology integration. The technology removes the marketing middleman and allows influencers to earn a commission for the products they promote on behalf of retailers. Influencers are able to create mCarts which provide consumers with lists of products from various retailers, as well as background information for each product such as whether a certain dress was featured on a popular TV show. These mCarts can be advertised on the influencers’ social media profiles and allow consumers to find various products across a variety of retailers. “Consumers’ universal shopping carts help them find the best deals,” remarked Hilco Streambank senior vice president Richelle Kalnit. “Mavatar’s technology allows consumers to track products to online and offline retailers and guides shoppers from movies, magazines, TV shows and social media directly to checkout.”
Parties interested in acquiring the Mavatar intellectual property assets or learning more about the sale process should CLICK HERE or contact Hilco Streambank directly using the contact information provided below.
Senior Vice President