Banzai International, Inc. (
NASDAQ: BNZI)
(“Banzai” or the “Company”), a leading marketing technology company
that provides essential marketing and sales solutions, today
announced that it has signed a non-binding letter of intent (the
“LOI”) to acquire IGLeads, a cutting-edge automated lead generation
platform. Unlike competitive products that rely on firmographic
data, IGLeads uses search criteria leading to 100% verified,
targeted lead generation.
With the proposed strategic acquisition of
IGLeads, Banzai would be poised to significantly enhance its
audience acquisition services, executing its strategic commitment
to acquiring best-in-class, data-focused products that serve
marketers everywhere. IGLeads stands out as a top-rated lead
generation solution that uses search criteria, rather than
firmographic filters, to extract valuable contact data from the
most extensive public databases and leading social media platforms,
all in one interface. IGLeads enables marketers to construct
qualified, target audiences based on intent signals such as
conversation topics and interests, rather than traditional
firmographic filters.
“IGLeads has built a unique way to deliver
verified target audiences based on interest, intent, and social
engagement versus traditional firmographics. IGLeads is well suited
for Banzai’s customers, and we’re excited to have a chance to
integrate its capabilities into our other offerings,” said
Joe Davy, CEO and Founder of Banzai. “Brandon has built an
efficient, profitable, and high-growth business. We’re excited to
take it forward to the next stage of growth.”
Compelling Strategic and Financial
Benefits
-
Profitable growth business: IGLeads is a highly
profitable, rapidly growing business that Banzai can leverage to
drive additional scale and acquisition opportunities.
-
Complementary product offering: Banzai intends to
integrate IGLeads’ all-in-one lead generation platform to better
serve existing customers with cross-sell opportunities.
- Highly
rated: IGLeads has close to 1,000 customers and is one of
the top-user-rated lead generation solutions with a 4.7 star rating
on TrustPilot.
Brandon King, CEO and Founder of IGLeads
commented: “Getting IGLeads to this point is a testament
to the hard work and success of our team, and we believe IGLeads
would be a notable addition to the Banzai platform and to Banzai’s
customers. We are excited to pursue an opportunity to join Banzai
and support the progression of their award-winning innovation
initiatives that are working to democratize data in the MarTech
space.”
About Banzai
Banzai is a marketing technology company that
provides essential marketing and sales solutions for businesses of
all sizes. On a mission to help their customers achieve their
mission, Banzai enables companies of all sizes to target, engage,
and measure both new and existing customers more effectively.
Banzai customers include Square, Hewlett Packard Enterprise, Thermo
Fisher Scientific, Thinkific, Doodle and ActiveCampaign, among
thousands of others. Learn more at www.banzai.io. For investors,
please visit https://ir.banzai.io/
About IGLeads
IGLeads.io, established in 2021, provides
innovative solutions in social media and B2B scraping across
multiple platforms, offering an efficient lead generation service
without the need for logins or proxies. Our team of experts is
committed to excellence, customer satisfaction, and integrity. We
pride ourselves on staying ahead of industry trends and adapting to
meet our clients' diverse needs in the Technology SaaS sector. As a
leader in this field, we offer tailored support for businesses of
all sizes, aiming to drive success and growth through effective
lead generation.
Forward-Looking Statements
Certain statements included in this press
release are forward-looking statements within the meaning of “safe
harbor” provisions of the United States Private Securities
Litigation Reform Act of 1995. Forward-looking statements may be
identified by the use of words such as “believe,” “may,” “will,”
“estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,”
“would,” “propose,” “plan,” “project,” “forecast,” “predict,”
“potential,” “seem,” “seek,” “future,” “outlook,” “target,” or
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters, but the
absence of these words does not mean that a statement is not
forward-looking. These forward-looking statements include, but are
not limited to statements regarding the proposed acquisition of
IGLeads and the success, if an acquisition is completed, of the
acquisition, estimates and forecasts of, financial and performance
metrics, projections of market opportunity and market share,
expectations and timing related to commercial product launches or
success, ability to accelerate Banzai’s go-to-market strategy and
capitalize on commercial opportunities, and the potential success
of Banzai’s go-to-market strategy. These statements are based on
various assumptions, whether or not identified in this press
release, and on the current expectations of Banzai’s management and
are not predictions of actual performance. These forward-looking
statements are provided for illustrative purposes only and are not
intended to serve as, and must not be relied on by any investor as,
a guarantee, an assurance, a prediction or a definitive statement
of fact or probability. These forward-looking statements are
subject to a number of risks and uncertainties, including: the
failure to enter into a definitive agreement to acquire IGLeads for
any reason, including as a result of due diligence, or complete the
acquisition of IGLeads, including as a result of closing conditions
not being met, the failure to maintain Nasdaq listing of Banzai’s
securities; changes in domestic and foreign business, market,
financial, political and legal conditions; uncertainty of the
projected financial information with respect to Banzai; Banzai’s
ability to successfully and timely develop, sell and expand its
technology and products, and otherwise implement its growth
strategy; risks relating to Banzai’s operations and business,
including information technology and cybersecurity risks, loss of
customers and deterioration in relationships between Banzai and its
employees; increased competition; potential disruption of current
plans, operations and infrastructure of Banzai as a result of
operating as a new public company; difficulties managing growth and
expanding operations; the impact of geopolitical, macroeconomic and
market conditions; the ability to successfully select, execute or
integrate future acquisitions into the business, which could result
in material adverse effects to operations and financial conditions;
and those factors discussed in its Annual Report on Form 10-K for
the fiscal year ended December 31, 2022, Quarterly Reports on Form
10-Q for the quarters ended March 31, 2023, June 30, 2023, and
September 30, 2023, the registration statement on Form S-4
(together with all amendments thereto, the "Registration
Statement") initially filed on August 31, 2023, and the definitive
proxy statement / prospectus contained therein, in each case, under
the heading "Risk Factors," and other documents of Banzai filed, or
to be filed, with the Securities and Exchange Commission. If any of
these risks materialize or our assumptions prove incorrect, actual
results could differ materially from the results implied by these
forward-looking statements. In addition, forward-looking statements
reflect Banzai’s expectations, plans or forecasts of future events
and views as of the date of this press release. Banzai anticipates
that subsequent events and developments will cause Banzai’s
assessments to change. However, while Banzai may elect to update
these forward-looking statements at some point in the future,
Banzai specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing Banzai’s assessments as of any date subsequent to the
date of this press release. Accordingly, undue reliance should not
be placed upon the forward-looking statements.
Contacts:
InvestorsRalf EsperGateway
Group949-574-3860bnzi@gateway-grp.com
MediaBrenlyn Motlagh, Christina LockwoodGateway
Group617-797-1979bnzi@gateway-grp.com
Banzai (NASDAQ:BNZI)
Historical Stock Chart
From Jul 2024 to Aug 2024
Banzai (NASDAQ:BNZI)
Historical Stock Chart
From Aug 2023 to Aug 2024