IZEA Worldwide, Inc. and GP Investments, Ltd. Partner on a New Value Creation Plan
September 10 2024 - 10:00AM
IZEA Worldwide, Inc. (Nasdaq: IZEA), a leading provider of
technology, data, and services for the Creator Economy, today
announced a partnership with GP Investments, Ltd. and a series of
value creation actions.
Antonio Bonchristiano and Rodrigo Boscolo of GP
Investments, a global investment firm with flexible, long-term
capital, are joining IZEA’s Board of Directors. These appointments
reflect GP’s substantial IZEA shareholding and its track record in
creating value across a range of enterprises. Regarding the
partnership with GP Investments, Patrick Venetucci, CEO of IZEA
said, “IZEA will benefit from Antonio and Rodrigo’s experience and
success in high growth, tech and tech-enabled businesses like ours.
We welcome them and their ideas.” Antonio said, “We look forward to
leveraging our strategic, capital allocation and M&A
experiences with the board for the good of all stakeholders.”
Bonchristiano is the CEO and a board member of
GP Investments, which he joined in 1993. Previously, he worked in
London and New York for Solomon Brothers and Johnston Associates.
Over the last three decades, he has served as a director on several
boards, including AMBEV, Rimini Street, G2D Investments, BR
Properties, among others. Boscolo is a Managing Director and the
CFO at GP Investments since 2018. Before, he was a consultant at
The Boston Consulting Group. Boscolo has also served on numerous
boards of both private and public companies across geographies,
including G2D Investments, Spice Private Equity, LEON Restaurants,
Magnesita, Sascar, and Allis.
Additionally, IZEA’s Chairman role is being separated from the
CEO role to strengthen governance and enable the IZEA CEO to focus
on the business. Lindsay Gardner, Independent Director of IZEA’s
Board, and long-time technology, media and telecom executive, is
being appointed to Chairman of the
Board.
IZEA’s share buyback program is expanding from
$5 million to $10 million as a demonstration of the Board’s
confidence in the company’s ability to create more value.
A Strategy & Capital Allocation Committee is
being formed to evaluate strategic options, sources and uses of
capital, capital structure, and cash management.
The company is committing resources to M&A
to capitalize on opportunities as they arise in the marketplace.
The company reaffirms the previously stated commitment to pursue
profitable growth.
The IZEA Board of Directors will be implementing
these value creation actions effective immediately.
About IZEA Worldwide, Inc.IZEA
Worldwide, Inc. (“IZEA”), is a marketing technology company
providing software and professional services that enable brands to
collaborate and transact with the full spectrum of today’s top
social influencers and content creators. The company serves as a
champion for the growing Creator Economy, enabling individuals to
monetize their content, creativity, and influence. IZEA launched
the industry’s first-ever influencer marketing platform in 2006 and
has since facilitated nearly 4 million transactions between online
buyers and sellers. Leading brands and agencies partner with IZEA
to increase digital engagement, diversify brand voice, scale
content production, and drive a measurable return on
investment.
About GP Investments, Ltd.GP
Investments, Ltd. (“GP”) is an investment firm established in 1993.
Since its foundation, the firm has deployed over $5 billion in more
than 50 companies across multiple sector, geographies, and maturity
levels. GP’s unique active investment approach is rooted in engaged
ownership, alignment of interests, and high-touch strategic and
operational support. The firm has flexible, patient capital and
seeks to build long-lasting enterprises. Since 2006, GP Investments
has its Class A Shares traded in the form of Brazilian Depositary
Receipts (BDRs) on the Brazilian Stock Exchange (B3 S.A. – Brasil,
Bolsa, Balcão) under the ticker symbol GPIV33 and on the Luxembourg
Stock Exchange. The firm currently has offices in São Paulo, New
York, London and Bermuda.
Forward Looking
Statements Statements used in this news release relating
to future plans, or events, are forward-looking statements subject
to certain risks and uncertainties. Additional information
concerning these and other risks and uncertainties is contained in
the company’s filings with the Securities and Exchange Commission
(SEC), including the Annual Report on Form 10-K, and other periodic
reports filed with the SEC. The company has no obligation to
publicly update or revise any of the forward-looking statements in
this news release.
Nicole O’Hara
IZEA Worldwide, Inc.
Phone: 407-674-6911
Email:ir@izea.com
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