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 definitive agreement to acquire Vidello, a
technology provider of video hosting and marketing suite solutions
for businesses.
The acquisition is expected to grow revenue by
$6.5M and increase EBITDA by $2.3M for the twelve-month period
ended September 30, 2024 on a pro-forma basis. Vidello financials
are preliminary and unaudited, and subject to adjustment. Banzai
will pay up to an aggregate of $7M in a mix of cash equity to
Vidello’s shareholders, subject to certain holdback amounts and
future performance targets.
Based in London, Vidello offers a comprehensive
video hosting and marketing suite that provides entrepreneurs,
startups, agencies, and online businesses with tools to grow their
businesses.
Vidello’s key offerings include:
- CreateStudio: An
award-winning video creation app that allows users to easily
produce eye-catching 3D character video content for social media
and websites.
- PhotoVibrance: A
tool that transforms static images into moving motion pictures to
capture attention.
- Twinkle: An
all-in-one audio platform for creators and agencies, featuring
premium royalty-free music tailored for video projects.
- Vidello: A 3-in-1
video hosting, player, and collaboration tool that allows users to
showcase videos with a customizable, lightning-fast player.
Features include a collaboration portal and in-play marketing
calls-to-action for lead generation and sales optimization.
Vidello has over 90,000 customers. Their
flagship CreateStudio product has been named a Top 3 Best Rated
product in the video maker category by Capterra1, and a High
Performer by G22.
“We’re doubling down on building the best suite
of video products by adding Vidello. We believe that Vidello has
created the best product in the world for making amazing 3D
videos,” said Joe Davy, Founder and CEO of Banzai. Mr. Davy
expressed his further excitement about the acquisition by stating
his belief that “Video content is the future of marketing across
every platform. Vidello’s products make it significantly easier to
create stunning, attention-grabbing video content without any
technical expertise.”
Josh Ratta, Co-Founder and CEO of Vidello,
commented, “Having established a strong presence
in the video space, we’re thrilled to partner with Banzai. This
collaboration comes at the perfect time, offering an exciting
opportunity to expand our video tools and reach a wider audience.
By integrating Vidello’s capabilities with Banzai’s AI-powered
platform, we strive to help businesses create and host engaging
videos that elevate their marketing efforts.”
Banzai's vision is to build a comprehensive
suite of AI-powered marketing tools that make marketers lives
faster and easier. The Vidello acquisition will play a pivotal role
in accelerating revenue growth by delivering innovative solutions
to our customers.
Transaction Details
Under the terms of the agreement, the aggregate
merger consideration shall be up to $5.5M in cash (subject to
certain holdback amount as set forth in the acquisition agreement)
and a number of shares of Banzai Class A Common Stock, and/or
Pre-Funded Warrants in lieu thereof, equal to $1.5 million.
Additional details regarding the acquisition are included in the
Company’s Form 8-K filed with the Securities and Exchange
Commission on December 20, 2024. The transaction is expected to
close in December 2024, subject to the satisfaction of customary
closing conditions.
About Vidello
Vidello is a video hosting and marketing suite
which provides online businesses with the essential marketing and
hosting tools to assist in growing business through video. To learn
more about the company visit www.vidello.com.
About Banzai
Banzai is a marketing technology company that
provides AI-enabled marketing and sales solutions for businesses of
all sizes. On a mission to help their customers grow, Banzai
enables companies of all sizes to target, engage, and measure both
new and existing customers more effectively. Banzai customers
include Cisco, New York Life, 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.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements often use words such
as “believe,” “may,” “will,” “estimate,” “target,” “continue,”
“anticipate,” “intend,” “expect,” “should,” “would,” “propose,”
“plan,” “project,” “forecast,” “predict,” “potential,” “seek,”
“future,” “outlook,” and similar variations and expressions.
Forward-looking statements are those that do not relate strictly to
historical or current facts. Examples of forward-looking statements
may include, among others, statements regarding Banzai
International, Inc.’s (the “Company’s”): future financial, business
and operating performance and goals; annualized recurring revenue
and customer retention; ongoing, future or ability to maintain or
improve its financial position, cash flows, and liquidity and its
expected financial needs; potential financing and ability to obtain
financing; acquisition strategy and proposed acquisitions and, if
completed, their potential success and financial contributions;
strategy and strategic goals, including being able to capitalize on
opportunities; expectations relating to the Company’s industry,
outlook and market trends; total addressable market and serviceable
addressable market and related projections; plans, strategies and
expectations for retaining existing or acquiring new customers,
increasing revenue and executing growth initiatives; and product
areas of focus and additional products that may be sold in the
future. Because forward-looking statements relate to the future,
they are subject to inherent uncertainties, risks and changes in
circumstances that are difficult to predict and many of which are
outside of our control. Forward-looking statements are not
guarantees of future performance, and our actual results of
operations, financial condition and liquidity and development of
the industry in which the Company operates may differ materially
from those made in or suggested by the forward-looking statements.
Therefore, investors should not rely on any of these
forward-looking statements. Factors that may cause actual results
to differ materially include changes in the markets in which the
Company operates, customer demand, the financial markets, economic,
business and regulatory and other factors, such as the Company’s
ability to execute on its strategy. More detailed information about
risk factors can be found in the Company’s Annual Report on Form
10-K and the Company’s Quarterly Reports on Form 10-Q under the
heading “Risk Factors,” and in other reports filed by the Company,
including reports on Form 8-K. The Company does not undertake any
duty to update forward-looking statements after the date of this
press release.
Investor RelationsChris TysonExecutive Vice
PresidentMZ Group - MZ North America949-491-8235BNZI@mzgroup.us
www.mzgroup.us
MediaRachel MeyrowitzDirector, Demand
Generation, Banzaimedia@banzai.io
1 Source: https://www.capterra.com/p/203897/Create-Studio/2
Source: https://www.g2.com/products/create-studio/reviews
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