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From larboard to appropriate : IZEA COO Ryan Schram, IZEA CEO Ted Murphy, FLUVIP CEO Sebastián Jasminoy, FLUVIP CRO Juan David Ramírez (Photo: Business Wire)
January 09, 2019 11:00 AM Eastern Standard Time
LAS VEGAS–(BUSINESS WIRE)–IZEA Worldwide, Inc. (NASDAQ: IZEA), abettor of IZEAx, the arch online exchange abutting brands and publishers with affecting agreeable creators, appear that it has entered into a non-binding letter of absorbed (the “LOI”) at CES 2019 in Las Vegas, Nevada. The LOI outlines assertive accepted acceding for the proposed acquirement by IZEA of all the outstanding shares of FLUVIP Ventures, SL (“FLUVIP”), the arch influencer business aggregation of Latin America.
FLUVIP provides influencer business and custom agreeable solutions to brands and agencies throughout Latin America and in the U.S. Hispanic Market. The aggregation is headquartered in Bogotá, Colombia, with accessory operations in Brazil, Mexico, Peru, and Argentina. FLUVIP operates assorted technology platforms including Influtech, AdvocatesPro, and Mediadata. The aggregation has accustomed a arrangement of added than 100,000 opt-in influencers throughout Latin America and the U.S. Hispanic market, alignment from micro-influencers to some of the better influencers in anniversary country. Investors in FLUVIP accommodate Cisneros Group, Telefonica (Wayra), Velum Ventures, and The Venture City, who would become shareholders in IZEA column transaction.
“We accept that there is a cogent befalling for all-embracing alliance in the Influencer Business space,” commented Alfonso Gómez Palacio, Telefonica’s Director Hispam North, “This transaction brings calm the arch influencer business belvedere in the United States with the arch belvedere in Latin America. The accumulated aggregation will be able-bodied positioned to serve ample brands and agencies in both regions, while establishing a software and casework basement for added all-around expansion.”
The transaction contemplates that FLUVIP will become a wholly-owned accessory of IZEA. Application paid to shareholders of FLUVIP will be in the anatomy of banknote and IZEA banal paid or issuable at closing and over a abaft 36-month aeon consecutive to the closing, with abeyant added application angry to approaching FLUVIP operational achievement metrics.
“We are aflame by the abeyant to affiliate FLUVIP with IZEA to anatomy a absolutely altered technology and casework belvedere accouterment to marketers and influencers beyond North, Central, and South America,” said Sebastian Jasminoy, Founder and CEO of FLUVIP. “The aggregate of our companies can accredit us to innovate faster by apperception our engineering assets on a distinct band-aid for our collective barter and to apprehend economies of calibration contrarily absent in our industry.”
“There is all-around bazaar appeal for both influencer business and custom agreeable for brands. IZEA intends to abide cardinal alliance amid the best-in-class providers in our industry with an eye on accretive acquirement and technology assets,” said Ted Murphy, Chairman and CEO of IZEA. “The accretion of FLUVIP would aggrandize our brand to awning all the above announcement markets in the Americas — from Canada to Argentina. In accession to able relationships with brands in Latin America, IZEA would be abnormally able to account the world’s arch multi-national brands with a distinct influencer business belvedere that alcove a cogent allocation of the western hemisphere.”
IZEA’s Cardinal Interest in FLUVIP
Adeptness to account ample multi-national audience through both software and managed casework with abysmal cultural compassionate and area adeptness in key markets throughout the Americas. Advancing sales amplification into a developing bazaar with decidedly beneath antagonism and bazaar breach in both influencer and agreeable marketing. Altered amount hypothesis for barter targeting the U.S. Hispanic Bazaar with Latino influencers.
Software Belvedere Innovation
Integration of key FLUVIP technologies and processes into IZEAx. Alliance of platforms to acquiesce new affection development to move advanced at a added advancing tempo. Support for assorted currencies and languages to serve the Latam market.
Long-Term Amount Savings Opportunities
Adeptness to decidedly lower IZEA’s boilerplate amount per engineering man hour by establishing an off-shore engineering presence. Create operational efficiencies throughout the FLUVIP alignment by way of technology enabled workflows and acquittal processing Reduction of advancing belvedere basement and aliment costs by affective to a distinct platform.
Based aloft unaudited advice provided by FLUVIP to IZEA, the company’s revenues for the year concluded December 31, 2017 were about $9.0 million. Net accident for the year concluded December 31, 2017 was $987,000. FLUVIP’s banking advice has not yet been audited, may not accede with U.S. GAAP standards, and absolute numbers may be materially altered from what was provided and appear herein. FLUVIP’s revenues are comprised primarily of managed casework fees, with a growing abject of barter licensing their software.
Consummation of the transaction advised by the LOI is accountable to due activity and the beheading and commitment of a absolute accretion acceding alternating with the achievement of the closing altitude which will be independent therein. It is advised that the accretion will be consummated in May 2019, but there can be no affirmation that a absolute acceding will be entered into, or that the accretion will be consummated aloft the acceding set alternating in the LOI, or otherwise. In the accident that the accretion is consummated, there can be no affirmation that it will ultimately prove to be benign to IZEA.
IZEA operates IZEAx, the arch online exchange that connects marketers with agreeable creators. IZEAx automates influencer business and custom agreeable development, acceptance brands and agencies to calibration their business programs. IZEA creators accommodate celebrities and accepted journalists. Creators are compensated for bearing altered agreeable such as connected and abbreviate anatomy text, videos, photos, cachet updates, and illustrations for marketers or distributing such agreeable on account of marketers through their claimed websites, blogs, and amusing media channels. Marketers accept affecting agreeable and engaging, shareable belief that drive awareness. For added advice about IZEA, appointment Media
Safe Harbor Statement
All statements in this absolution that are not based on absolute actuality are “forward-looking statements” aural the acceptation of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Advanced statements, which are based on assertive assumptions and call our approaching plans, strategies and expectations, can about be articular by the use of advanced acceding such as “believe,” “expect,” “may,” “will,” “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or added commensurable terms. Examples of advanced statements include, amid others, statements we accomplish apropos approaching banking results, expectations apropos whether and back the affairs would lose, expectations apropos IZEA’s adeptness to access its acquirement and advance Adjusted EBITDA, expectations with account to operational efficiency, expectations apropos financing, and expectations apropos IZEA’s business strategy. Advanced statements absorb inherent risks and uncertainties which could account absolute after-effects to alter materially from those in the advanced statements, as a aftereffect of assorted factors including, amid others, the following: aggressive altitude in the agreeable and amusing advocacy articulation in which IZEA operates; abortion to popularize one or added of the exchange platforms of IZEA; disability to accounts advance initiatives in a appropriate manner; our adeptness to authorize able acknowledgment controls and procedures and centralized ascendancy over banking reporting; our adeptness to amuse the requirements for connected advertisement of our accepted banal on the Nasdaq Capital Market; alteration bread-and-butter altitude that are beneath favorable than expected; and added risks and uncertainties declared in IZEA’s alternate letters filed with the Securities and Exchange Commission. The advanced statements fabricated in this absolution allege alone as of the date of this release, and IZEA assumes no obligation to amend any such advanced statements to reflect absolute after-effects or changes in expectations, except as contrarily appropriate by law.
IZEA Worldwide, Inc.