Influencer marketing technology company IZEA Worldwide Inc. (IZEA:NASDAQ), which provides data and services for the world's leading brands, yesterday announced that "it has secured a significant six-figure contract with a new Fortune 500 customer for influencer marketing managed services." The firm stated that in addition to the new client, it also secured a variety of contracts with its existing repeat customers including the renewal of a contract with a Global Fortune 500 technology company.
The company's Chairman and CEO Ted Murphy commented, "The events of the past several months have fundamentally changed the global marketing landscape...We believe that IZEA's platforms and services are well positioned to benefit from a redistribution of marketing dollars from traditional media to social media. Recent commitments from our customers increase our level of confidence that influencer marketing will be an area of escalating investment in the future."
"IZEA continues to see a strong recovery of our managed services business following the initial negative impacts we observed due to COVID-19...The company remains above the January 1-March 15 average bookings trendline we previously shared and we are optimistic about year over year managed services bookings in the second quarter, despite the pandemic. The SaaS business is also starting to show early signs of recovery as businesses begin to reopen and gain more comfort with the longer-term commitments required for those licensing our software," Chairman Murphy added.
IZEA Worldwide is headquartered in Orlando, Fla., and additionally maintains offices in Denver and Chicago. The company operates IZEAx, which it claims is "the premier online marketplace that connects marketers with content creators." The firm stated that "IZEAx automates influencer marketing and custom content development, allowing brands and agencies to scale their marketing programs." Some of the creators on the platform include celebrities and journalists. These creators are compensated for producing unique content including texts, videos, photos, status updates and illustrations on their personal websites, blogs and social media channels. Marketers then are able to receive influential content and share and distribute in order to increase brand engagement and drive product or company awareness.
The company reports on its website that it currently has more than 100 team members and has greater than 800 thousand registered users who complete more than 3.8 million transactions through its marketplace.
IZEA Worldwide began the day with a market capitalization of around $44.2 million with approximately 35.12 million shares outstanding. IZEA shares opened 84% higher today at $2.32 (+$1.06, +84.13%) over yesterday's $1.26 closing price and reached a new 52-week high price this morning of $2.59. The stock has traded today between $1.75 and $2.59 per share and is currently trading at $2.14 (+$0.88, +69.84%).
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