Creatd Acquires Majority Stake in Stock Trading Social App, Orbit

Rhea-AI Summary

Creatd, Inc. (Nasdaq CM: CRTD) has acquired a majority stake in Orbit Media, LLC, a new app-based stock trading platform. This platform is designed to empower investors by providing a community and essential tools for trading. Orbit recently completed beta testing and is set for a full launch by year-end. Executive Chairman Jeremy Frommer emphasized the importance of open discourse around stock trading, particularly in the small-cap sector. The acquisition aims to enhance user engagement and facilitate direct communication between retail investors and management teams.

Positive

• Acquisition of majority stake in Orbit Media enhances Creatd's service offerings.
• Orbit's app promotes a community-focused approach, potentially attracting more retail investors.
• Full launch of Orbit anticipated by year-end, creating new revenue opportunities.

Negative

• None.

NEW YORK, Aug. 5, 2022 /PRNewswire/ -- Creatd, Inc. (Nasdaq CM: CRTD) ("Creatd" or the "Company"), today announced that it has completed its purchase of a majority ownership stake in Orbit Media, LLC ("Orbit"), a new app-based stock trading platform designed to empower a new generation of investors, providing users with a like-minded community as well as access to tools, content, and other resources to learn, train, and excel in the financial markets.

Orbit recently concluded its beta testing program and is expected to have its full launch by the end of the year.

Commented Creatd's Executive Chairman, Jeremy Frommer, "In my seat, I have spent a great deal of time analyzing the behavior of retail investors, particularly in regards to meme stocks and the communication forums dominated by discussions about them. Specifically, I've studied firsthand the amount of misinformation that tends to persist. Today, we have announced the purchase of a majority stake in Orbit, a new stock trading social app. Orbit is designed to enable open and fair discourse around stock trading, and within the underutilized small-cap space in particular. We expect Orbit's full launch to take place during the fourth quarter, launching a new era of interaction between retail investors and management teams–I have long been a strong proponent of the benefits of direct communications between management teams and shareholders, and of the power of social media platforms that have the ability to ensure the discussions remain fair and compliant. We expect to distribute the platform throughout Creatd's network and platform communities, as well as the audiences they attract." 

For more information on Orbit and its launch plans, visit https://upinorbit.io/.

About Creatd

Creatd, Inc. (Nasdaq CM: CRTD) is a company dedicated to unlocking creativity for creators, brands, and consumers. We accomplish this through Creatd's four business pillars: Creatd Labs, Creatd Partners, Creatd Ventures, and Creatd Studios.

Creatd: https://creatd.com;

Creatd IR: https://investors.creatd.com;

Vocal Platform: https://vocal.media;

Investor Relations Contact: ir@creatd.com

Forward-Looking Statements

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SOURCE Creatd, Inc.

FAQ

What is the significance of Creatd's acquisition of Orbit Media?

The acquisition allows Creatd to expand its services into the app-based stock trading space, enhancing user engagement and potentially increasing revenue.

When is Orbit Media expected to fully launch?

Orbit Media is expected to have its full launch by the end of this year.

How does Orbit Media aim to help investors?

Orbit Media provides a platform for community engagement, tools, and resources designed to support investors in trading and learning.

What is Creatd's stock symbol?

Creatd's stock symbol is CRTD.