IZEA Awarded $2M Contract Expansion by Fortune 500 Company

Rhea-AI Summary

IZEA Worldwide has secured a $2 million contract with a leading retailer for managed influencer marketing services, expanding on a pre-existing relationship. This agreement follows a record-breaking first quarter, where IZEA reported $12.1 million in Managed Services bookings, representing an 88% year-over-year increase. The CEO expressed optimism about continued sales momentum in Q2, indicating strong demand for influencer marketing services. This development underscores IZEA's position in the growing Creator Economy, which helps brands enhance digital engagement.

Positive

• Awarded a $2 million contract with a leading retailer.
• Achieved record-breaking first quarter bookings of $12.1 million, up 88% year-over-year.
• Strong sales momentum reported for Q2.

Negative

• None.

IZEA to Power Influencer Marketing Initiative for Leading Retailer

Orlando, Florida, April 06, 2022 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (NASDAQ: IZEA), the premier provider of influencer marketing technology, data, and services for the world’s leading brands, announced today that it has been awarded a $2 million contract with a leading retailer. IZEA will be providing the retailer with managed influencer marketing services. The annual contract award is an expansion of a previously existing relationship with the company.

This new contract follows IZEA’s recently announced record-breaking first quarter for Managed Services bookings, when IZEA secured contract expansions and new deals totaling $12.1 million, an increase of 88% year over year.

“Team IZEA is off to a strong start to Q2, continuing the strong sales momentum that we have seen over the past several quarters,” said Ted Murphy, IZEA’s Founder and CEO. “We are delighted to welcome back a long-time customer who is expanding their influencer marketing investment with us and look forward to bringing their collaboration opportunities to the IZEA network.”

To work with IZEA as a brand or influencer, visit izea.com.

About IZEA Worldwide, Inc.

IZEA Worldwide, Inc. (“IZEA”), is a marketing technology company providing software and professional services that enable brands to collaborate and transact with the full spectrum of today’s top social influencers and content creators. The company serves as a champion for the growing Creator Economy, enabling individuals to monetize their content, creativity, and influence. IZEA launched the industry’s first-ever influencer marketing platform in 2006 and has since facilitated nearly 4 million transactions between online buyers and sellers. Leading brands and agencies partner with IZEA to increase digital engagement, diversify brand voice, scale content production, and drive a measurable return on investment.

Safe Harbor Statement

All statements in this release that are not based on historical fact are “forward-looking statements” intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “may,” “will,” “would,” “could,” “should,” “expect,” “anticipate,” “hope,” “estimate,” “believe,” “intend,” "likely," "projects," “plans,” "pursue," "strategy" or "future," or the negative of these words or other words or expressions of similar meaning. Examples of forward-looking statements include, among others, statements we make regarding expectations concerning IZEA’s ability to increase revenue and bookings, growth or maintenance of customer relationships, and expectations concerning IZEA’s business strategy. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including, among others, the following: competitive conditions in the content and social sponsorship segment in which IZEA operates; failure to popularize one or more of the marketplace platforms of IZEA; our ability to establish effective disclosure controls and procedures and internal control over financial reporting; our ability to satisfy the requirements for continued listing of our common stock on the Nasdaq Capital Market; changing economic conditions that are less favorable than expected; and other risks and uncertainties described in IZEA’s periodic reports filed with the Securities and Exchange Commission. The forward-looking statements made in this release speak only as of the date of this release, and IZEA assumes no obligation to update any such forward-looking statements to reflect actual results or changes in expectations, except as otherwise required by law.

Attachment

• IZEA Awarded $2M Contract Expansion by Fortune 500 Company

FAQ

What contract did IZEA secure in April 2022?

IZEA secured a $2 million contract for managed influencer marketing services with a leading retailer.

What was the total amount of Managed Services bookings reported by IZEA in Q1 2022?

IZEA reported a total of $12.1 million in Managed Services bookings for Q1 2022.

How much did IZEA's Managed Services bookings increase year over year?

IZEA's Managed Services bookings increased by 88% year over year.

What is the significance of IZEA's recent contract expansion?

The contract expansion signifies a strengthening of IZEA's long-term relationship with the retailer and highlights growing demand for influencer marketing services.