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Creatd, Inc. (OTCQB: CRTD) is a leading innovator in digital technology and creator-centric platforms based in the United States. The company provides an array of tools and curated communities to assist creators, from bloggers to podcasters, in effectively monetizing their content. By enabling creators to connect with their ideal audiences and partner with relevant brands, Creatd fosters a robust ecosystem for storytelling and content creation.
The company has recently embarked on a strategic initiative to acquire TAMI Ventures Inc., marking a significant expansion in their portfolio. The proposed acquisition, set to be completed through an all-preferred shares transaction, aims to integrate TAMI Ventures' extensive portfolio of proprietary technology platforms, which include social media, sports betting, fantasy sports, eSports, and more. This merger not only broadens Creatd’s technological assets but also positions the combined entity to tap into the burgeoning sports betting market.
In 2023, the sports betting sector in the United States saw a record $119.84 billion wagered, highlighting its rapid growth and potential. Leveraging TAMI Ventures' capabilities, Creatd plans to introduce an innovative gaming social media platform that will empower digital influencers and content creators. This initiative is expected to generate significant growth synergies and enhance Creatd’s market presence.
Financially, Creatd is demonstrating strong resilience and strategic foresight. Following a reverse stock split, the company saw a 300% increase in valuation and eliminated nearly $1M in payables. The impending Schedule 13G filings by major investors, who control approximately 22% of Creatd’s publicly traded shares, reflect strong investor confidence and a commitment to the company’s growth trajectory.
Despite facing challenges such as delayed financial filings, Creatd remains focused on enhancing its net equity and cash reserves. The company anticipates releasing its 10-K report and Q1 financial filings in mid-2024, underscoring its commitment to transparency and robust financial health. Moving forward, Creatd aims to achieve uplisting to a national exchange, further solidifying its market position and shareholder value.
Jeremy Frommer, CEO of Creatd, Inc., emphasizes the company's dedication to building a diversified portfolio of leading-edge tech and media assets. The continued expansion of Vocal, a 100% owned social media technology platform subsidiary, along with strategic acquisitions, underscores Creatd's commitment to growth and innovation.
Creatd, Inc. (Nasdaq CM: CRTD) announced new features on its Vocal platform aimed at enhancing user safety and supporting creators. A new Report button allows users to flag stories violating community guidelines, ensuring moderation. Additionally, a word counter has been integrated into the editor, assisting creators in adhering to the required story length of 600 words. Co-CEOs Laurie Weisberg and Justin Maury emphasize the importance of community feedback in these updates, which aim to improve the storytelling experience on Vocal.
Creatd, Inc. (Nasdaq CM: CRTD) has launched the Vocal+ Fiction Awards, its largest Challenge to date, promoting creativity among its diverse storytelling community. There are no restrictions on genre or theme, allowing creators to submit original fiction freely. The Challenge will award $5,000 to each of 25 winners, who will also be featured in a forthcoming book by Creatd Studios. Creatd reports growing subscription revenues, reaching $620,000 in the last quarter, anticipating Q4 revenues between $800,000 and $1,000,000, thanks to nearly 1.2 million freemium users and innovative adoption strategies.
Creatd (Nasdaq CM: CRTD) announced on October 7, 2021, the signing of five new creators to its WHE Agency, expanding its talent roster to over 55. Notable signings include Missy and Bryan Lanning, the popular YouTube creators behind Daily Bumps, who bring an audience of 8.3 million followers. Other signed influencers include the Haroon Twins, Jessica Jovel, Alonzo Floriolli, Sarah Mollica, Carlo Bruno Longo, and Danielle Ruppert. The partnership aims to leverage Creatd's resources to enhance creator income and business opportunities across brand partnerships and e-commerce.
Creatd, Inc. (Nasdaq: CRTD) has officially closed its acquisition of a 50.4% equity stake in Dune Glow Remedy, a direct-to-consumer wellness beverage brand. This acquisition, first announced in August, is expected to contribute between $750,000 to $1 million in revenue to Creatd's consolidated financials over the next year. Dune's founder, Tom Punch, has joined Creatd as CEO of Creatd Ventures, focusing on e-commerce operations. Additionally, Creatd is exploring further acquisitions while discontinuing plans to acquire Wobble Wedge.
On October 1, 2021, Creatd (Nasdaq CM: CRTD) announced the successful completion of its first NFT art auction featuring six NFTs from its OG Collection, which includes over 150,000 historical media pieces. The auction, held from September 22 to September 30, sold all NFTs for approximately $1,000 each. Proceeds will fund a dedicated creator initiative, enabling artists to create NFT art. Co-CEO Jeremy Frommer expressed enthusiasm about entering the NFT market and the company's commitment to empowering creators.
Creatd, Inc. (Nasdaq CM: CRTD) announced its entry into the NFT market with the release of six NFT artworks from the OG Collection, originally valued at $6-8 million. This strategic initiative aims to expand Creatd's digital presence and revenue streams. The auction for these NFTs starts on September 22, 2021, and ends on September 30, 2021, and will be hosted on Rarible. Additionally, Creatd has partnered with NetObjex to create a proprietary NFT marketplace, enhancing their digital asset capabilities.
Creatd, Inc. (Nasdaq CM: CRTD) announced on August 19, 2021, significant changes in its executive leadership structure, effective August 13, 2021. Jeremy Frommer and Laurie Weisberg are appointed as co-CEOs, with Weisberg also maintaining her role as a Board member. The company has introduced a four-pillar structure consisting of Labs, Partners, Ventures, and Studios. New appointments include Thomas Punch as CEO of Creatd Ventures, Tracy Willis as CEO of WHE Agency under Creatd Partners, and Erica Wagner heading Creatd Studios. This reorganization aims to enhance operational efficiency and growth opportunities.
Creatd (Nasdaq CM: CRTD) reported strong financial results for Q2 2021, achieving a gross revenue of $1 million and net revenues of $971,000, a significant increase of 201% year-over-year. The company projects Q3 revenues between $1.4 million and $1.6 million and anticipates exceeding $5 million for FY 2021. With over $5 million in working capital, Creatd is well-positioned for growth, bolstered by the acquisition of WHE Agency and plans to acquire Dune Glow Remedy and Wobble Wedge. However, operating expenses rose to $9.4 million, leading to a comprehensive loss of $(8.6) million for the quarter.
Creatd, Inc. (Nasdaq CM: CRTD) announced that its flagship platform, Vocal, has surpassed 1.1 million freemium creators. This milestone supports the company's growth strategy, focusing on influencer marketing and potential acquisitions of creator content platforms. CEO Jeremy Frommer highlighted the accelerated registrations as crucial for achieving Vocal+ conversion goals and enhancing the premium membership model. Creatd aims to empower creators through technology and partnerships while exploring new avenues for growth.
Creatd, Inc. (Nasdaq CM: CRTD) has introduced 'Subscribe,' a feature on its Vocal platform designed for creators to enhance audience engagement. This tool allows users to personalize their feeds with content from creators they follow, marking a shift from algorithm-based to chronological feeds. The feature is accessible to both free and paid Vocal users and aims to foster community building among creators. Upcoming paid offerings will enable Vocal+ members to monetize their content more directly, creating new revenue streams for both creators and the Company.
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