Zedge To Join Russell Microcap(R) Index
Zedge, Inc. (NYSE:ZDGE) will join the Russell Microcap Index effective June 28, 2021, following the annual reconstitution. This membership signifies a milestone for Zedge, reflecting its growth and financial performance improvements. The inclusion is expected to attract a broader audience of investors, enhancing visibility among institutional investors who manage approximately $10.6 trillion in assets using Russell indexes. CEO Jonathan Reich emphasized the opportunity to showcase Zedge's revenue growth and user engagement strategies.
- Inclusion in the Russell Microcap Index indicates enhanced visibility and credibility in the investment community.
- Opportunity to attract new investors with a stronger focus on revenue growth and user engagement.
- Zedge's significant user base: approximately 35 million monthly active users as of April 2021.
- None.
NEW YORK, NY / ACCESSWIRE / June 8, 2021 / Zedge, Inc. (NYSE American:ZDGE), a worldwide mobile publishing and content platform provider, is set to join the Russell Microcap® Index. The addition is scheduled for the conclusion of the 2021 Russell indexes annual reconstitution, effective after the US markets open on June 28, according to a preliminary list of additions posted June 4.
Membership in the Russell Microcap® Index, which remains in place for one year, means automatic inclusion in any appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
"Inclusion in the Russell index marks a key milestone in the evolution of our company and is a testament to the progress we have made in growing our business and improving our financial performance," commented Jonathan Reich, CEO of Zedge. "We look forward to the opportunity to reach a broader audience of new investors with our strong revenue growth, cash flow and profits story and discussing the initiatives we are implementing to increase monthly active users, improve the experience for our users and creators, grow subscribers and accelerate adoption of our newer offerings."
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately
For more information on the Russell Microcap® Index and the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website.
Forward-Looking Statements
All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words "believe," "anticipate," "expect," "plan," "intend," "estimate," "target" and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, we assume no obligation to update any forward-looking statements.
About Zedge
Zedge is a leading app developer focusing on mobile phone personalization and entertainment. With approximately 482 million organic installs and nearly 35 million monthly active users as of April 30, 2021. "Zedge Wallpapers and Ringtones" is all about personal identity. We're the hub for self-expression used by millions for mobile phone personalization, social content, and fandom art. Our app enables consumers to showcase who they are, what they like, and amplify their persona. Zedge Premium, our marketplace, enables content creators, ranging the gamut from world-class celebrities to emerging artists, to display their talent and sell their content to our users. "Shortz - Chat Stories by Zedge" offers serialized, short-form fiction stories delivered as text-messaging conversations and mini-podcasts. Our apps run on our flexible and proven state-of-the-art digital publishing platform. For more information, visit https://www.zedge.net.
About FTSE Russell
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit www.ftserussell.com.
CONTACT:
Brian Siegel, IRC, MBA
Managing Director,
Hayden IR
(346) 396 -8696
ir@zedge.net
SOURCE: Zedge, Inc.
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