Welcome to our dedicated page for Verb Technology Company news (Ticker: VERB), a resource for investors and traders seeking the latest updates and insights on Verb Technology Company stock.
Verb Technology Company, Inc. (Nasdaq: VERB) is a pioneer in interactive video-based sales applications, revolutionizing how businesses attract and engage customers. With a global reach extending to over 60 countries, VERB's Software-as-a-Service (SaaS) platform delivers a comprehensive suite of subscription-based sales enablement software. Key products include:
- verbLIVE: An interactive livestream ecommerce, shoppable video, and webinar solution.
- verbCRM: A customer relationship management tool.
- verbTEAMS: A self-onboarding version of verbCRM, optimized for small businesses with salesforce synchronization.
- verbLEARN: A learning management system designed for corporate training and education.
Headquartered in Las Vegas, NV, Verb Technology operates creator studios in Los Alamitos, CA, and Philadelphia, PA, making it a central hub for the convergence of ecommerce and entertainment. The company's flagship platform, MARKET.live, is a multi-vendor, multi-presenter, livestream social shopping destination. MARKET.live enables brands, retailers, creators, and influencers to monetize their fanbase across social media channels like TikTok, Facebook, and Instagram. Recently, VERB integrated a seamless native checkout process for Meta platforms, expanding MARKET.live's audience and enhancing value for its users.
In terms of financial health, VERB recently reported cash and cash equivalents of approximately $14.2 million with notes payable of around $1.2 million, marking a significant improvement from previous periods. This financial stability has solidified the company's ability to continue operations for at least the next 14 months, subject to revenue generation.
VERB's ongoing partnerships and technological innovations position it as a leader in interactive video-based sales. The company also offers a variety of services including B2B telesales, sales promotions, event marketing, and door-to-door campaigns. A recent surge in retailers joining MARKET.live, along with partnerships like the one with TikTok, underscores MASSIVE growth potential and strategic initiatives aimed at expanding and enhancing ecommerce capabilities.
For more detailed information, visit VERB.tech and MARKET.live or follow their social media channels.
Verb Technology Company, Inc. (NASDAQ: VERB) announced the successful closing of an underwritten public offering generating gross proceeds of $7.2 million. The offering involved 36,051,000 shares of common stock priced at $0.20 per share. Proceeds will be allocated for general corporate purposes and debt repayment. Aegis Capital Corp. served as the sole book-running manager for this offering, conducted under an effective shelf registration statement with the SEC. Verb is recognized for its innovative interactive video-based sales applications, including its MARKET.live platform.
Verb Technology Company, Inc. (NASDAQ: VERB) announced a public offering of 36,051,000 shares of common stock priced at $0.20 each, aiming for $7.2 million in gross proceeds. The funds will be used for general corporate purposes and debt repayment. The offering is set to close on January 26, 2023, pending customary conditions. Aegis Capital Corp. is the sole book-running manager. This offering is filed under an SEC effective shelf registration statement. The company emphasizes its leadership in interactive video-based sales applications, leveraging its MARKET.live platform to enhance e-commerce and customer engagement.
Verb Technology Company, Inc. (NASDAQ: VERB) announced plans for a public offering of its common stock without warrants, aiming to use proceeds for general corporate purposes and debt repayment. The offering depends on market conditions, and there is uncertainty regarding its completion or specifics. Aegis Capital Corp. serves as the sole book-running manager for this transaction, which is part of an effective shelf registration statement filed with the SEC. Detailed terms will be provided in a prospectus supplement. This announcement reflects Verb's ongoing strategy to strengthen its financial position.
Verb Technology Company (Nasdaq: VERB) has announced an investigation into suspected illegal trading activities, including naked short selling and spoofing, that may have artificially depressed its stock price. The company believes these actions have broader implications, affecting its business, cost of capital, and compliance with Nasdaq's listing requirements. The board is evaluating options, including engaging forensic experts and collaborating with other affected firms for greater integrity in the capital markets. CEO Rory J. Cutaia emphasized that such trading practices harm both companies and retail investors, underscoring the need for accountability.
Verb Technology Company (Nasdaq: VERB) announces the launch of its first weekly shoppable entertainment series, ‘Meet Me on MARKET with Drew Dorsey’, exclusively on the MARKET.live platform. The show, premiering on December 6, 2022, will showcase over five hours of interactive programming featuring popular products and brands. It aims to transform traditional viewing into active participation with clickable shopping capabilities and real-time interaction. CEO Rory J. Cutaia highlights the show's potential to define a new medium for shoppable entertainment.
Verb Technology Company, Inc. (Nasdaq: VERB) has successfully raised $9 million in gross proceeds from recent financings, including a $5 million non-dilutive loan with a fixed interest rate of 9%. The company completed cost-cutting measures, reducing monthly operating costs while executives accepted a 25% compensation cut. Nasdaq granted a new 6-month extension for share price compliance. The company's SaaS recurring subscription revenue increased by 19% year-over-year. Furthermore, the MARKET.live platform gained 76,000 shoppers and over 250 livestream events are confirmed through the holiday season.
Verb Technology Company (Nasdaq: VERB) reported third-quarter results for 2022, showcasing a SaaS recurring revenue up 19% year-over-year to $1.9 million. Total revenue declined to $2.2 million, down from $2.9 million year-over-year, due to exiting low-margin non-digital revenue. The company secured $9 million in gross proceeds, enhancing its financial runway. Strategic cost-cutting measures were implemented, reducing operational costs significantly. The Nasdaq granted a 6-month extension for share price compliance.
Verb Technology Company (Nasdaq: VERB) has secured a $5.0 million non-convertible, unsecured term loan at 9% interest, maturing on May 7, 2024. This financing follows a prior transaction, bringing total gross proceeds to $9.0 million in three weeks. Additionally, Nasdaq has granted VERB an extension until May 8, 2023 to meet the $1.00 minimum closing bid price requirement for continued listing. The company plans to leverage the loan for growth and working capital, amidst challenging market conditions.
Verb Technology Company, Inc. (NASDAQ: VERB) will host a conference call to discuss its Q3 2022 financial results on November 14, 2022, at 5:30 p.m. ET. The call will be led by CEO Rory J. Cutaia and CFO Salman Khan. Investors are encouraged to participate and ask questions during the Q&A session. The results will be released prior to the call. A replay of the conference will also be available. Verb is recognized for its interactive video-based sales solutions and operates a Software-as-a-Service (SaaS) platform.
VERB Technology Company (Nasdaq: VERB) has partnered with the Pittsburgh Pirates, becoming the first MLB team to utilize VERB's interactive video-based sales solutions.
Approved for league-wide use by Major League Baseball Advanced Media, the collaboration aims to enhance ticket and merchandise sales through shoppable digital content. The Pirates' successful pilot test showcased high click-through rates, indicating strong potential for engagement and revenue growth. This partnership marks a significant milestone in VERB's expansion within the sports entertainment sector.
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