IZEA Awarded New Contracts by Two Fortune 500 Retailers
10 June 2020 - 4:00AM
IZEA Worldwide, Inc. (NASDAQ: IZEA), the premier provider of
influencer marketing technology, data, and services for the world’s
leading brands, announced today that it received renewed
commitments from two global retailers on Monday. One retailer is a
Fortune 500 company, the other a Fortune 10 company. Both
commitments mark the first time IZEA has seen spending from these
customers since COVID-19 began to disrupt the economy and global
supply chain.
“IZEA has enjoyed long-term relationships with
these retail customers, providing both custom content for their
e-commerce sites and influencer marketing services,” said Ted
Murphy, IZEA’s Chairman and CEO. “We saw new contractual
commitments from both parties in every quarter last year, but IZEA
did not receive contracts for new initiatives in Q1 2020 from
either customer. We are excited to see both organizations
reactivate their marketing efforts and sign new contracts with IZEA
to begin spending again.”
IZEA previously announced that it had been awarded
two contracts from different customers, totaling $1 million, which
were both signed on Monday, May 18th. The company subsequently
indicated that it believes that bookings for its managed services
business in Q2 2020 will grow year over year despite the challenges
created by COVID-19.
“As the global economy begins to open up, we are
seeing new commitments from customers come in meaningful waves,”
continued Murphy. “Different sectors have been impacted by, and
reacted to, COVID-19 in a variety of ways, with some pausing
spending and some getting more aggressive in their advertising
efforts. We take it as a positive sign that both of these retailers
entered into new campaign agreements on the same day, and we
believe that there is likely some correlation with how their
businesses have been impacted by the pandemic, as well as their
macroeconomic outlook. Given the size of these retail
organizations, we view a return to spending as a leading positive
indicator for the trickle-down effects on those companies who
manufacture and sell products through these organizations.”
About IZEA Worldwide, Inc.IZEA
Worldwide, Inc. (“IZEA”) operates IZEAx, the premier online
marketplace that connects marketers with content creators. IZEAx
automates influencer marketing and custom content development,
allowing brands and agencies to scale their marketing programs.
IZEA creators include celebrities and accredited journalists.
Creators are compensated for producing unique content such as long
and short form text, videos, photos, status updates, and
illustrations for marketers or distributing such content on behalf
of marketers through their personal websites, blogs, and social
media channels. Marketers receive influential content and engaging,
shareable stories that drive awareness. For more information about
IZEA, visit https://izea.com/.
Safe Harbor StatementAll
statements in this release that are not based on historical fact
are “forward-looking statements” intended to qualify for the safe
harbor from liability established by the Private Securities
Litigation Reform Act of 1995. Forward-looking statements, which
are based on certain assumptions and describe our future plans,
strategies and expectations, can generally be identified by the use
of forward-looking terms such as “may,” “will,” “would,” “could,”
“should,” “expect,” “anticipate,” “estimate,” “believe,” “intend,”
"likely," "projects," “plans,” "pursue," "strategy" or "future," or
the negative of these words or other words or expressions of
similar meaning. Examples of forward-looking statements
include, among others, statements we make regarding expectations
concerning IZEA’s ability to increase revenue and bookings, growth
or maintenance of customer relationships, and expectations
concerning IZEA’s business strategy. Forward-looking statements
involve inherent risks and uncertainties which could cause actual
results to differ materially from those in the forward-looking
statements, as a result of various factors including, among others,
the following: competitive conditions in the content and social
sponsorship segment in which IZEA operates; failure to popularize
one or more of the marketplace platforms of IZEA; uncertainty
relating to the effects of COVID-19, our ability to establish
effective disclosure controls and procedures and internal control
over financial reporting; our ability to satisfy the requirements
for continued listing of our common stock on the Nasdaq Capital
Market; changing economic conditions that are less favorable than
expected; and other risks and uncertainties described in IZEA’s
periodic reports filed with the Securities and Exchange Commission.
The forward-looking statements made in this release speak only as
of the date of this release, and IZEA assumes no obligation to
update any such forward-looking statements to reflect actual
results or changes in expectations, except as otherwise required by
law.
Martin Smith
IZEA Worldwide, Inc.
Phone: 407-674-6911
Email: ir@izea.com
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