IZEA Sales Surge Following COVID-19 Dip
IZEA Worldwide has announced a new partnership with a Fortune 500 insurance company for influencer marketing services. The company also expanded relationships with a Fortune 100 food manufacturer and a billion-dollar furniture manufacturer. Despite challenges posed by the pandemic, Q2 2020 bookings for managed services have surpassed those of Q2 2019. IZEA reported a significant uptick in recent bookings, even achieving a 14-day average above pre-COVID levels. However, future bookings may slow due to potential cancellations.
- New partnership with a Fortune 500 insurance company for influencer marketing services.
- Expanded relationships with a Fortune 100 food manufacturer and a multi-billion-dollar furniture manufacturer.
- Q2 2020 bookings for managed services exceed Q2 2019 bookings.
- 14-day average bookings trendline is above the pre-COVID-19 average.
- Future bookings may slow due to cancellations.
Orlando, Florida, May 26, 2020 (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 established a new relationship with a Fortune 500 insurance company for influencer marketing services. The company has also expanded its relationships with a Fortune 100 food manufacturer and a leading multi-billion-dollar furniture goods manufacturer, among others.
“The surge of customer wins in recent weeks is simply remarkable,” said Ted Murphy, IZEA’s Chairman and CEO. “Our sales team has delivered a parabolic rebound curve following the initial impacts from the pandemic. It has been an inspiring demonstration of the commitment and grit of our team and I am very proud of what we have just accomplished together. As of today, Q2 bookings for managed services in 2020 have already exceeded Q2 bookings for the same period in 2019, despite the loss of traction with some customers due to the pandemic. All of this, while working from home in the most challenging of business climates.”
On May 14th the company released a chart detailing the decline and subsequent path recovery of managed services bookings as part of its Q1 earnings press release. Given the magnitude of increased bookings in the past week, the company has provided an updated chart reflecting recent data, which is attached to this press release. IZEA does not currently intend to provide subsequent updates to the chart. Future bookings may slow or be negatively impacted by cancellations.
“Not only has our 14-day average bookings trendline continued to be above our 14-day Pre COVID-19 average as measured from January 1, 2020 – March 15, 2020, we hit a new peak for 2020 on Friday, May 22nd, following a series of both large and small commitments from our customers,” continued Murphy. “We still have much work to do in order to continue this pace and recover from the setback delivered by Coronavirus. However, in many ways, I believe this company is in a much better place than we were 10 weeks ago. We remain focused on continuing our momentum and rebuilding our pipeline as quickly as we can.”
About IZEA Worldwide, Inc.
IZEA Worldwide, Inc. (“IZEA”) operates IZEAx, the premier online marketplace that connects marketers with content creators. IZEAx automates influencer marketing and custom content development, allowing brands and agencies to scale their marketing programs. IZEA creators include celebrities and accredited journalists. Creators are compensated for producing unique content such as long and short form text, videos, photos, status updates, and illustrations for marketers or distributing such content on behalf of marketers through their personal websites, blogs, and social media channels. Marketers receive influential content and engaging, shareable stories that drive awareness. For more information about IZEA, visit https://izea.com/.
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,” “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
Martin Smith IZEA Worldwide, Inc. Phone: 407-674-6911 Email: ir@izea.com
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