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 Cliently, an AI-driven sales engagement solution
revolutionizing personalized outreach. The announcement follows the
recently announced LOI to acquire IGLeads, which acquisition would
foster Banzai’s customer acquisition capabilities.
With the proposed acquisition of Cliently,
Banzai would be acquiring an AI-powered sales engagement platform.
Cliently would be integrated with other Banzai products including
Reach, Demio, and IGLeads. Cliently's platform automates
multi-channel sales sequences, enabling a single marketing manager
to execute lead generation campaigns at the scale of a full Sales
Development team. This approach accelerates sales cycles and boosts
conversion rates while substantially reducing the cost and
management overhead of traditional Sales Development teams.
“In our tests, Cliently’s conversion rates
significantly outperformed our existing process. Cliently's unique
AI-driven approach to sales engagement is a game-changer,”
said Joe Davy, CEO and Founder of Banzai. “Spencer
and his team have done a fantastic job in creating a platform that
not only automates customer engagement but also empowers marketing
managers to multiply their effectiveness. We are thrilled at the
potential of integrating Cliently into the Banzai family of
products and offering these benefits to our customers.”
Key Benefits of the Potential
Acquisition:
- Supports
Acquisition Strategy: Strategic acquisition underscores
Banzai’s commitment to add cutting-edge technology into its
integrated suite of marketing tools within the acquisition,
engagement and analytics themes.
-
Synergistic Customer Integration: Acquisition of
Cliently’s customer base would allow for cross-sell opportunities
between both customer bases.
- Seamless
Product Integration: Cliently would seamlessly integrate
into the Banzai platform and enrich Banzai customers’ engagement
capabilities.
- Expanded
Market Reach: Acquisition would open up new opportunities
for Banzai to serve a wider range of clients, leveraging Cliently’s
unique capabilities.
Spencer Farber, CEO of
Cliently, added, “Joining forces with Banzai will allow a
significant leap forward for Cliently. Our vision has always been
to transform the sales process through innovation, and Banzai’s
extensive reach and expertise in marketing technology would
undoubtedly help propel this vision forward. We are excited about
the possibilities that integrating our offerings would bring.”
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 Cliently Cliently is a
unique AI-based Sales Engagement and Automation Application.
Generate customized intent in real-time that tells revenue teams
which accounts and contacts to engage and which action to take to
maximize sales and save countless hours.
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
Cliently 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 Cliently
for any reason, including as a result of due diligence, or complete
the acquisition of Cliently, 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:
InvestorsAshley
LevesqueBanzai920-901-8484IR@banzai.io
MediaAshley
LevesqueBanzai920-901=8484PR@banzai.io
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