Welcome to our dedicated page for Creatd news (Ticker: CRTD), a resource for investors and traders seeking the latest updates and insights on Creatd stock.
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 (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.
Creatd, Inc. (Nasdaq CM: CRTD) is set to join the Russell Microcap® Index effective June 28, 2021, as announced on June 4. This inclusion is significant as it enhances the company's visibility among investors and positions it for growth. CEO Jeremy Frommer noted the progress made towards operational optimization and aims for break-even status. Since launching, Vocal, its flagship platform, has over 1 million registered creators and plans to reach 100,000 premium members by year-end 2021. Creatd also increased its stake in Plant Camp to 89%.
Creatd, Inc. (Nasdaq CM: CRTD) has acquired an additional 56% membership interest in Plant Camp, LLC, increasing its ownership to 89%. This move allows Creatd to control Plant Camp's operations and recognize approximately $1 million in annual revenue. Plant Camp, which offers healthy kid-friendly foods, launched its first product in 2020 and has sold nearly half of its initial 15,000-unit order through e-commerce. The company plans to expand its offerings with new products and expects continued revenue growth.
Creatd, Inc. (Nasdaq CM: CRTD) appointed Rich Vinchesi as the first Lead Acquisition Strategist for Creatd Partners, enhancing corporate venture capabilities. Vinchesi, a veteran with 30 years of experience in corporate finance, will guide deal origination and new initiatives. CEO Jeremy Frommer emphasized the strategic significance of this role in scaling partnerships and executing successful transactions. Vinchesi's background includes extensive work with startups and expertise in fundraising, business model development, and strategic partnerships, positioning him well to drive Creatd's growth.
Creatd (Nasdaq CM: CRTD) announced the impressive results of the True Colors Poetry Challenge, conducted in collaboration with Moleskine. This initiative achieved over 37 million impressions and attracted more than 9 million unique viewers, resulting in over 8,600 submissions from Vocal creators, nearly tripling the average daily submissions record. Each of the 15 winners received a $2,000 cash prize and a chance to collaborate with Moleskine for its Pride Month communications, showcasing the successful partnership aimed at promoting creativity and inclusivity.
Creatd (Nasdaq CM: CRTD) announced the launch of the Vocal Ambassador Program aimed at boosting Vocal+ subscriptions. Participants can earn commissions for referring new subscribers, similar to affiliate marketing. The initiative follows the company’s milestone of 1 million creators on its platform and aligns with its goal of reaching 100,000 premium subscribers by year-end 2021. Additionally, Creatd outlined a product roadmap that includes new features such as 'Following', 'Commenting', and a 'Support' feature for monthly patronage, intended to enhance creator engagement and revenue.
Creatd, Inc. (Nasdaq CM: CRTD) announced its Vocal platform has surpassed 1 million creators, achieving this goal ahead of schedule. This milestone follows a recent report of over 25,000 premium subscribers. The company remains optimistic about increasing its Vocal+ subscriber count, predicting over 100,000 subscribers by the end of 2021. To support this growth, Creatd plans to invest in product enhancements and infrastructure updates. CEO Jeremy Frommer highlighted the significance of this milestone, suggesting it will accelerate conversions to the premium tier.
Creatd, Inc. (Nasdaq: CRTD) has announced a collaboration with Memberful, a membership software company owned by Patreon, launching the Members-Only Challenge with a total prize pool of $32,500. This initiative aims to empower creators to monetize their passions by submitting ideas for membership programs. The Challenge features a grand prize of $22,500, second place prize of $7,500, and a third place prize of $2,500, along with an annual subscription to Memberful for winners. Submissions are open until June 23, 2021.
Creatd, Inc. (Nasdaq: CRTD) reported a strong first quarter of 2021, achieving net revenue of $744,000, up 154% compared to $293,000 in Q1 2020. The performance surpassed the company's guidance of $660,000. The agency business surged 73% year-over-year, earning $428,000. Additionally, subscriptions for Vocal+ grew significantly, hitting over 25,000 subscribers with a goal of 100,000 by year-end. The company anticipates Q2 revenues between $1 million and $1.2 million, and total 2021 revenues of $5 million to $7 million.
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