Thumzup Achieves 202% Growth in Advertisers on Proprietary Technology Platform Through October 2024

Rhea-AI Summary

Thumzup Media (Nasdaq: TZUP) reported significant growth in its advertiser base, achieving a 202% increase through the first ten months of 2024. The company's proprietary ad-tech platform expanded from 183 to 554 advertisers between January 1 and October 31, 2024. Thumzup's platform allows businesses to pay customers cash through Venmo and PayPal for social media posts about their brands, creating a network of brand ambassadors. The company has attracted diverse businesses, including retailers, restaurants, home furnishings, clothes, coffee shops, and consumer brands in beverages and breakfast cereals. Thumzup targets adding over 5,000 advertisers through 2025, representing an estimated 1,000% increase in its advertiser base.

Positive

• 202% growth in advertiser base from 183 to 554 in first 10 months of 2024
• Projected 1,000% increase in advertiser base through 2025
• Successful expansion across diverse business sectors
• Platform adoption by both local retailers and national consumer brands

Negative

• None.

Insights

Market Research Analyst

The 202% growth in advertisers from 183 to 554 demonstrates strong market validation for Thumzup's influencer-driven advertising model. The platform's rapid adoption suggests effective product-market fit in the evolving digital advertising landscape. However, the 37.16M market cap indicates the company is still in early growth stages, making their ambitious target of 5,000 advertisers by 2025 particularly aggressive.

The platform's democratization of brand ambassadorship follows successful precedents like Uber's transformation of ride-sharing. Yet, key metrics such as revenue per advertiser, user engagement rates and customer acquisition costs remain undisclosed, making it difficult to fully assess the business model's sustainability and scalability. The diverse advertiser base spanning local businesses to national brands suggests promising market penetration, but investor focus should be on monetization metrics in upcoming quarters.

• Company targets an estimated 1,000 percent increase in advertiser base through 2025, aiming to add more than 5,000 advertisers
• Advertiser base expands from 183 to 554 for the first ten months of 2024
• A wide range of businesses, from local retailers to national consumer brands, have already adopted Thumzup’s next-generation advertising platform
• Company’s model compares to that of Uber’s democratization of ride-sharing

Los Angeles, CA, Nov. 22, 2024 (GLOBE NEWSWIRE) -- Thumzup Media Corporation ("Thumzup" or the "Company") (Nasdaq: TZUP), a leading provider of innovative social media branding and marketing solutions which allow businesses and brands to pay customers and fans cash through Venmo and PayPal for their posts on social media, is pleased to announce that its proprietary ad-tech platform has now attracted over 500 advertisers, reflecting a robust 202% growth since the beginning of the year.

Since January 1, 2024, Thumzup has grown from 183 advertisers to 554 as of October 31, 2024, underscoring the platform's escalating appeal across diverse business sectors.

This substantial growth of Thumzup’s innovative approach to digital advertising is indicative of a broader shift in the industry towards more direct and rewarding forms of consumer engagement. Traditional advertising models are increasingly seen as intrusive and ineffective, prompting advertisers to seek out more organic and user-centric ways to connect with their audiences. Thumzup's platform capitalizes on this trend by turning everyday social media users into brand ambassadors, thereby fostering authentic interactions and building brand loyalty.

“Our platform's capability to engage consumers directly through social media and reward them for their endorsements has met with enthusiastic response from a wide spectrum of businesses,” stated Thumzup Chief Executive Officer Robert Steele. “This includes retailers, restaurants, home furnishings, clothes, coffee shops and consumer brands in beverages and breakfast cereals. The Thumzup platform is continuing to resonate with advertisers, and we are thrilled by the continued adoption of our platform.”

The Thumzup app is available for download on the App Store and Google Play.

About Thumzup^®

Thumzup Media Corporation (Thumzup) is democratizing the multi-billion dollar social media branding and marketing industry. Its flagship product, the Thumzup platform, utilizes a robust programmatic advertiser dashboard coupled with a consumer-facing App to enable individuals to get paid cash for posting about participating advertisers on major social media outlets through the Thumzup App. The easy-to-use dashboard allows advertisers to programmatically customize their campaigns. Cash payments are made to App users/creators through PayPal and other digital payment systems.

Thumzup was featured on CBS Los Angeles and in KTLA.

Legal Disclaimer

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These include, without limitation, statements about its potential growth, impacts on the advertising industry, plans for potential uplisting, and planned expansion. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results may differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in our filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

Company Contact
Thumzup Investor Relations
investors@thumzupmedia.com
800-403-6150

Media Contact
Jessica Starman
media@thumzupmedia.com

Attachment

• Go Thumzup!

FAQ

How many advertisers did Thumzup (TZUP) gain in 2024 through October?

Thumzup grew from 183 to 554 advertisers between January 1 and October 31, 2024, representing a 202% increase.

What is Thumzup's (TZUP) advertiser growth target for 2025?

Thumzup aims to add more than 5,000 advertisers through 2025, targeting an estimated 1,000% increase in its advertiser base.

What types of businesses are using Thumzup's (TZUP) platform?

Thumzup's platform is used by retailers, restaurants, home furnishings, clothes, coffee shops, and consumer brands in beverages and breakfast cereals.