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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 a major reduction in outstanding short-term debt and aged payables, totaling around $1.45 million, funded by a capital raise completed in June 2021. Approximately $3.5 million of long-term convertible notes were converted into stock at $5.00 per share, above market price. Remaining debt stands at about $1.68 million, including a $262,000 PPP loan due May 2022. The company has over $5 million in working capital and potential fundraising of $32 million if outstanding warrants are exercised.
Creatd, Inc. (Nasdaq CM: CRTD) has announced the launch of Dune Glow Remedy, a new direct-to-consumer brand focusing on health-oriented beverages. The company plans to acquire a 50.4% equity stake in Dune, anticipated to generate $500,000 to $1 million in net revenues over the next year. The acquisition aligns with Creatd's strategy to build a diverse portfolio of direct-to-consumer brands. The functional beverage market, particularly the 'beauty from within' segment, is experiencing notable growth, with a 360% rise compared to 9% for the broader beverage market.
Creatd, Inc. (Nasdaq CM: CRTD) has announced a non-binding Memorandum of Understanding to acquire a 55% equity stake in Wobble Wedge®, a direct-to-consumer home improvement company. The deal, which involves cash and stock, is expected to be finalized in early Q4 2021. Creatd anticipates that the acquisition will be accretive to EBITDA, generating estimated net revenues of $1.5 to $1.7 million over the next 12 months. Wobble Wedge® products are produced in the U.S. and sell up to 1 million units monthly, catering to various user types.
Creatd, Inc. (Nasdaq CM: CRTD) has acquired a controlling stake in WHE Agency, a talent management and public relations firm specializing in family- and lifestyle-focused influencers. The acquisition follows an initial announcement in mid-June 2021. WHE is expected to generate approximately $6.5 million in gross sales and $1.2 to 1.5 million in net revenues over the next year, making it accretive to Creatd's earnings. This strategic move aims to enhance the synergies between Vocal and WHE's creator networks, positioning Creatd for accelerated revenue growth.
Creatd, Inc. (Nasdaq CM: CRTD) achieved a significant milestone with over 30,000 Vocal+ subscribers, expanding its creator community to more than 1 million members. Projected second-quarter revenues are set at $1 million, a 300% increase year-over-year. The company anticipates third-quarter revenues between $1.6 million and $1.8 million, alongside a $1.5 million reduction in marketing costs, leading to estimated operating expenses of $3.3 million. CEO Jeremy Frommer highlighted the importance of enhancing creator interactions and driving organic growth through innovative programs.
Creatd, Inc. (Nasdaq: CRTD) has successfully closed its public offering of 750,000 shares of common stock at $3.40 per share, raising approximately $2.6 million. After deducting underwriting costs, net proceeds amount to $2.4 million. The company also granted underwriters a 30-day option to purchase an additional 112,500 shares. The offering's securities were registered under a shelf registration statement with the SEC, effective from April 23, 2021. This action is part of Creatd's ongoing strategy to enhance its business, focusing on empowering creators and brands.
Creatd, Inc. (Nasdaq CM: CRTD) has announced a public offering of 750,000 shares of common stock priced at $3.40 per share, totaling approximately $2.6 million. The offering is set to close on June 21, 2021, pending customary conditions, with underwriters having a 30-day option to purchase an additional 112,500 shares. Net proceeds are expected to reach about $2.4 million, intended for general corporate purposes. The Benchmark Company is the sole book-running manager for the offering.
Creatd, Inc. (Nasdaq CM: CRTD) has announced a public offering of its common stock, with all shares being offered by the company. There is a potential to grant underwriters a 30-day option to purchase an additional 15% of shares. Proceeds from the offering will be used for general corporate purposes. The offering is subject to market conditions, and the company cannot guarantee specifics regarding the offering's completion or terms. The Benchmark Company is acting as the sole bookrunning manager for this offering.
Creatd (Nasdaq CM: CRTD) announced a memorandum of understanding to acquire a 55% stake in WHE Agency for $275,000 in cash and $660,000 in stock. The deal, expected to close by early Q3 2021, aims to enhance revenue streams and creator resources. Creatd anticipates WHE Agency to contribute over $1 million in net revenues within 12 months. This acquisition reflects a strategic move to consolidate its position in the influencer industry, benefiting both Vocal and WHE's networks.
Creatd, Inc. (Nasdaq CM: CRTD) has launched 'Fiction,' a new community on Vocal aimed at showcasing fictional works from creators. This initiative is supported by Unbound, a crowdfunding book publisher, enhancing opportunities for authors. Alongside this, Erica Wagner, a celebrated author and literary editor, has been appointed as the Lead Editorial Innovator, focusing on new storytelling formats and potential acquisitions. The company also introduced the Doomsday Diary Challenge, inviting submissions for a chance to win cash prizes, enhancing engagement within the Vocal community.
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