Banzai Completes Acquisition of OpenReel, Expects to Exceed $10.0 Million 2024 Revenue Guidance
Banzai International (NASDAQ: BNZI) has completed its acquisition of OpenReel, a digital video creation platform. The transaction involved issuing 930,558 shares of Class A Common Stock and 11,769,501 Pre-Funded Warrants, valued at $19.6 million. Following the acquisition, Banzai expects to exceed its previously announced FY 2024 revenue guidance of $10.0 million.
OpenReel's platform enables rapid creation of high-quality, branded video content through directing, recording, and collaboration features. The company serves enterprise customers including Bristol Myers Squibb, Ingram Micro, DXC Technology, Insider Inc., and US Steel. This acquisition aligns with Banzai's strategy to build an AI-powered marketing technology platform and aims to create long-term shareholder value by offering new solutions to existing customers.
Banzai International (NASDAQ: BNZI) ha completato l'acquisizione di OpenReel, una piattaforma per la creazione di video digitali. La transazione ha comportato l'emissione di 930.558 azioni di Class A Common Stock e 11.769.501 Warrant pre-finanziati, per un valore di 19,6 milioni di dollari. A seguito dell'acquisizione, Banzai prevede di superare le precedenti previsioni di fatturato per l'anno fiscale 2024, pari a 10,0 milioni di dollari.
La piattaforma di OpenReel consente la creazione rapida di contenuti video di alta qualità e a marchio attraverso funzionalità di regia, registrazione e collaborazione. L'azienda serve clienti aziendali tra cui Bristol Myers Squibb, Ingram Micro, DXC Technology, Insider Inc. e US Steel. Questa acquisizione si allinea con la strategia di Banzai di costruire una piattaforma di tecnologia di marketing potenziata dall'IA e mira a creare valore a lungo termine per gli azionisti offrendo nuove soluzioni ai clienti esistenti.
Banzai International (NASDAQ: BNZI) ha completado la adquisición de OpenReel, una plataforma de creación de video digital. La transacción implicó la emisión de 930,558 acciones de Clase A Común y 11,769,501 Warrants Pre-Financiados, con un valor de 19.6 millones de dólares. Tras la adquisición, Banzai espera superar su guía de ingresos para el año fiscal 2024 previamente anunciada de 10.0 millones de dólares.
La plataforma de OpenReel permite la creación rápida de contenido de video de alta calidad y con marca a través de funciones de dirección, grabación y colaboración. La compañía atiende a clientes empresariales como Bristol Myers Squibb, Ingram Micro, DXC Technology, Insider Inc. y US Steel. Esta adquisición está alineada con la estrategia de Banzai de construir una plataforma de tecnología de marketing impulsada por IA y tiene como objetivo crear valor para los accionistas a largo plazo al ofrecer nuevas soluciones a los clientes existentes.
반자이 인터내셔널 (NASDAQ: BNZI)가 디지털 비디오 제작 플랫폼인 오픈릴 인수를 완료했습니다. 이번 거래는 930,558주의 A 클래스 보통주와 11,769,501개의 사전 자금 지원 워런트를 발행하는 것으로, 총 1960만 달러의 가치가 있습니다. 인수 이후 반자이는 이전에 발표한 2024 회계연도 매출 가이던스 1000만 달러를 초과할 것으로 예상하고 있습니다.
오픈릴의 플랫폼은 신속하게 고품질의 브랜드 비디오 콘텐츠를 제작할 수 있는 감독, 녹화 및 협업 기능을 제공합니다. 이 회사는 브리스톨 마이어스 스퀴브, 잉그램 마이크로, DXC 테크놀로지, 인사이더 주식회사 및 US 스틸을 포함한 기업 고객에게 서비스를 제공합니다. 이번 인수는 인공지능(AI) 기반의 마케팅 기술 플랫폼을 구축하려는 반자이의 전략과 일치하며 기존 고객에게 새로운 솔루션을 제공하여 장기적인 주주 가치를 창출하는 것을 목표로 합니다.
Banzai International (NASDAQ: BNZI) a finalisé l'acquisition de OpenReel, une plateforme de création de vidéos numériques. La transaction a impliqué l'émission de 930 558 actions ordinaires de catégorie A et de 11 769 501 bons de souscription préfinancés, d'une valeur de 19,6 millions de dollars. À la suite de l'acquisition, Banzai s'attend à dépasser ses prévisions de revenus pour l'exercice 2024, annoncées précédemment, de 10,0 millions de dollars.
La plateforme d'OpenReel permet la création rapide de contenus vidéo de haute qualité et de marque grâce à des fonctionnalités de direction, d'enregistrement et de collaboration. L'entreprise sert des clients d'entreprise tels que Bristol Myers Squibb, Ingram Micro, DXC Technology, Insider Inc. et US Steel. Cette acquisition s'inscrit dans la stratégie de Banzai de construire une plateforme de technologie marketing alimentée par l'IA et vise à créer de la valeur à long terme pour les actionnaires en offrant de nouvelles solutions aux clients existants.
Banzai International (NASDAQ: BNZI) hat die Übernahme von OpenReel, einer digitalen Videoerstellungsplattform, abgeschlossen. Die Transaktion umfasste die Ausgabe von 930.558 Stammaktien der Klasse A und 11.769.501 vorfinanzierten Warrants im Wert von 19,6 Millionen US-Dollar. Nach der Übernahme erwartet Banzai, die zuvor angekündigte Umsatzprognose für das Geschäftsjahr 2024 in Höhe von 10 Millionen US-Dollar zu übertreffen.
Die Plattform von OpenReel ermöglicht eine schnelle Erstellung von hochwertigen, markenbezogenen Videoinhalten durch Regie-, Aufnahme- und Kollaborationsfeatures. Das Unternehmen bedient Unternehmenskunden, darunter Bristol Myers Squibb, Ingram Micro, DXC Technology, Insider Inc. und US Steel. Diese Übernahme steht im Einklang mit der Strategie von Banzai, eine KI-gestützte Marketingtechnologie-Plattform aufzubauen, und zielt darauf ab, langfristigen Wert für die Aktionäre zu schaffen, indem neue Lösungen für bestehende Kunden angeboten werden.
- Expected to exceed $10.0 million revenue guidance for FY 2024
- Acquisition adds established enterprise clients including Bristol Myers Squibb and US Steel
- Strategic expansion into video content creation technology
- Share dilution through issuance of 930,558 Class A shares and 11,769,501 warrants
Insights
The acquisition of OpenReel marks a strategic expansion of Banzai's MarTech portfolio, with the deal valued at
OpenReel's enterprise client portfolio, including blue-chip companies like Bristol Myers Squibb and US Steel, brings significant recurring revenue potential and validates the platform's market position. For a company with a market cap of approximately
The dilutive impact of issuing approximately 12.7 million new shares/warrants needs careful consideration, but the potential revenue synergies and expanded market presence could justify this capital structure decision. The acquisition positions Banzai to capture a larger share of the growing MarTech market while diversifying its revenue streams.
OpenReel's technology platform represents a significant technological asset for Banzai's portfolio. The platform's ability to streamline high-definition video production while maintaining brand compliance addresses a critical pain point in enterprise marketing workflows. The integration potential with Banzai's existing AI initiatives could create a powerful end-to-end marketing solution.
The emphasis on rapid content creation and collaboration features positions the combined entity to capitalize on the growing demand for efficient, professional video content production tools. The enterprise-grade capabilities demonstrated by OpenReel's existing customer base suggest robust technical infrastructure and scalability. This acquisition could accelerate Banzai's product development roadmap, particularly in AI-enhanced video creation and editing capabilities.
SEATTLE, Dec. 19, 2024 (GLOBE NEWSWIRE) -- Banzai International, Inc. (NASDAQ: BNZI) (“Banzai” or the “Company”), a leading marketing technology company that provides essential marketing and sales solutions, today announced that it has successfully closed its previously announced acquisition of OpenReel, a leading digital video creation platform.
Additionally, the company announced that it plans to exceed the top end of its previously disclosed revenue guidance of
OpenReel enables companies to rapidly create high-quality, branded video content. Their solution allows companies to direct, record, create, and collaborate on high-definition video projects, dramatically reducing the time to create brand-compliant video content. OpenReel’s enterprise customer base includes global organizations, such as Bristol Myers Squibb, Ingram Micro, DXC Technology, Insider Inc., and US Steel.
Banzai’s vision is to build an AI-powered marketing technology platform to help businesses of all sizes grow. Acquiring mission-critical MarTech products like OpenReel will allow Banzai to drive customer growth by offering new solutions to existing customers to create long-term value for our shareholders.
Transaction Details
Banzai issued an aggregate of 930,558 shares of Class A Common Stock, and 11,769,501 Pre-Funded Warrants exercisable for shares of Class A Common Stock in lieu thereof, equal to
About OpenReel
OpenReel is a leading enterprise video creation and management solution that empowers companies to create high-quality content at scale and on brand. OpenReel enables businesses of all sizes to cut down on the time-and resource-intensive process of video creation and scale content creation initiatives efficiently, effectively, and securely. OpenReel is trusted by a wide range of customers from small businesses to the Fortune 500. OpenReel is based in New York, with its team distributed worldwide. To learn more about the company, visit: www.openreel.com.
About Banzai
Banzai is a marketing technology company that provides AI-enabled marketing and sales solutions for businesses of all sizes. On a mission to help their customers grow, Banzai enables companies of all sizes to target, engage, and measure both new and existing customers more effectively. Banzai customers include Cisco, New York Life, Hewlett Packard Enterprise, Thermo Fisher Scientific, Thinkific, Doodle and ActiveCampaign, among thousands of others. Learn more at www.banzai.io. For investors, please visit https://ir.banzai.io.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often use words such as “believe,” “may,” “will,” “estimate,” “target,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “propose,” “plan,” “project,” “forecast,” “predict,” “potential,” “seek,” “future,” “outlook,” and similar variations and expressions. Forward-looking statements are those that do not relate strictly to historical or current facts. Examples of forward-looking statements may include, among others, statements regarding Banzai International, Inc.’s (the “Company’s”): future financial, business and operating performance and goals; annualized recurring revenue and customer retention; ongoing, future or ability to maintain or improve its financial position, cash flows, and liquidity and its expected financial needs; potential financing and ability to obtain financing; acquisition strategy and proposed acquisitions and, if completed, their potential success and financial contributions; strategy and strategic goals, including being able to capitalize on opportunities; expectations relating to the Company’s industry, outlook and market trends; total addressable market and serviceable addressable market and related projections; plans, strategies and expectations for retaining existing or acquiring new customers, increasing revenue and executing growth initiatives; and product areas of focus and additional products that may be sold in the future. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity and development of the industry in which the Company operates may differ materially from those made in or suggested by the forward-looking statements. Therefore, investors should not rely on any of these forward-looking statements. Factors that may cause actual results to differ materially include changes in the markets in which the Company operates, customer demand, the financial markets, economic, business and regulatory and other factors, such as the Company’s ability to execute on its strategy. More detailed information about risk factors can be found in the Company’s Annual Report on Form 10-K and the Company’s Quarterly Reports on Form 10-Q under the heading “Risk Factors,” and in other reports filed by the Company, including reports on Form 8-K. The Company does not undertake any duty to update forward-looking statements after the date of this press release.
Investor Relations
Chris Tyson
Executive Vice President
MZ Group - MZ North America
949-491-8235
BNZI@mzgroup.us
www.mzgroup.us
Media
Rachel Meyrowitz
Director, Demand Generation, Banzai
media@banzai.io
FAQ
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