Accelerates MoneyLion’s Ability to Directly
Connect to New Audiences and Communities at Scale
Advances Company’s Mission to Educate, Inform
and Support Consumers’ Financial Decision Making
MoneyLion Inc. (“MoneyLion”) (NYSE: ML), an award-winning,
data-driven, digital financial platform, announced today that it
has acquired MALKA Media Group LLC (“MALKA”), a rapidly growing
creator network and content platform. The acquisition accelerates
MoneyLion’s ability to engage with consumers across all digital and
emerging channels, allowing MoneyLion to directly connect with
communities natively inside and outside of its platform.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20211116005479/en/
(Graphic: Business Wire)
“This transaction is the evolution of a successful four-year
partnership between MALKA and MoneyLion. We have seen first-hand
how MALKA’s content capabilities can drive industry-leading
customer acquisition and retention at scale. By combining their
capabilities with MoneyLion’s financial products and extensive
first party data, we will create a durable advantage that
accelerates MoneyLion’s customer growth and helps us serve our
mission of providing financial access and advice to hardworking
Americans,” said Dee Choubey, Co-Founder and CEO of MoneyLion.
“We will expand our vision of a daily destination, which started
with our own MoneyLife content, with personalized content that
educates, informs, and supports consumers’ financial decision
making. Through this acquisition, which we anticipate will be
accretive and cash flow positive in 2022, we will now be able to
fully leverage MALKA’s capabilities so that the MoneyLion brand can
truly live wherever our customers are investing their attention,”
continued Mr. Choubey.
Founded in 2012, MALKA is a category leader and innovator in the
fastest growing digital media and content sectors across
entertainment, sports, gaming, live streaming, and brand
storytelling. MALKA’s 170 creatives work across every digital
medium, from creative advertising campaigns and original branded
content to e-gaming livestreams, podcast series, feature length
documentaries, sports representation, and marketing.
“With MALKA’s creator network we no longer need to just go
through gatekeepers and monopolistic intermediaries to directly
communicate with our audience and communities. Investing in
evergreen content and building a platform where creators and
consumers can come together is a more efficient and smarter way to
support our marketing investments and brand building. This
fundamental shift will allow us to own and not rent the
relationships we are cultivating with new and existing MoneyLion
customers,” commented Bill Davaris, CMO of MoneyLion.
Following the acquisition, MALKA will continue to operate
independently, with MALKA Founder and CEO Louis Krubich and
Co-Founder and President Jeff Frommer continuing to lead the
day-to-day operations, alongside partners Pat Capra and Dan
Fried.
“MoneyLion lives at the intersection of culture and money, and
the team understands the power of engaging content and how it helps
form powerful relationships with communities. This partnership will
allow us to exponentially grow our creator network and engage with
millions of more fans,” said Louis Krubich, Founder and CEO of
MALKA.
“We now have a game-changing advantage to combine creative
storytelling and data-driven fintech to win new customers and offer
even more to our existing relationships,” said Co-Founder and
President Jeff Frommer.
Investor Presentation
MoneyLion has published a presentation to provide an overview of
the transaction, which is now available on MoneyLion’s Investor
Relations website at investors.moneylion.com.
About MoneyLion
MoneyLion is a mobile banking and financial membership platform
that empowers people to take control of their finances. Since its
launch in 2013, MoneyLion has engaged with 9.4 million hard-working
Americans and has earned its members’ trust by building a
full-service digital platform to deliver mobile banking, lending,
and investment solutions. From a single app, members can get a
360-degree snapshot of their financial lives and have access to
personalized tips and tools to build and improve their credit and
achieve everyday savings. MoneyLion is headquartered in New York
City, with offices in Sioux Falls and Kuala Lumpur, Malaysia.
MoneyLion has achieved various awards of recognition including the
2020 Forbes FinTech 50, Aite Group Best Digital Wealth Management
Multiproduct Offering, Finovate Award for Best Digital Bank 2019,
Benzinga FinTech Awards winner for Innovation in Personal Finance
2019 and the Webby Awards 2019 People’s Voice Award.
For more information about the company, visit www.moneylion.com.
For investor information and updates, visit MoneyLion’s investor
relations website at https://investors.moneylion.com/ and follow
@MoneyLionIR on Twitter.
About MALKA Media Group
Founded in 2012, MALKA is a category leader and innovator in the
fastest growing digital media and content sectors across
entertainment, sports, gaming, live streaming, and brand
storytelling. A creator first network developing content at the
speed of culture, MALKA’s 170 creatives work across every digital
medium from advertising campaigns and original branded content to
podcast series and feature length documentaries to talent
representation and marketing. With studios across Santa Monica and
Jersey City and numerous accolades including multiple Cynopsis
Media Awards, Telly Awards, and an Emmy nomination, MALKA is a game
changing model for an ever-changing digital world. For more
information about the company, visit www.malkamedia.com.
Forward-Looking Statements
The information in this press release includes “forward-looking
statements” within the meaning of the “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 “estimate,” “plan,” “project,” “forecast,” “intend,”
“will,” “expect,” “anticipate,” “believe,” “seek,” “target” or
other similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
forward-looking statements include, but are not limited to,
statements regarding estimates and forecasts of financial and
performance metrics and expectations and timing related to
potential benefits, terms and timing of the transaction. These
statements are based on various assumptions, whether or not
identified in this press release, and on the current expectations
of MoneyLion’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. Actual events and circumstances are difficult or
impossible to predict and will differ from assumptions. Many actual
events and circumstances are beyond the control of MoneyLion. These
forward-looking statements are subject to a number of risks and
uncertainties, including changes in domestic and foreign business,
market, financial, political and legal conditions; the inability of
the parties to successfully or timely consummate the proposed
business combination, including the risk that any required
regulatory approvals are not obtained, are delayed or are subject
to unanticipated conditions that could adversely affect the
combined company or the expected benefits of the proposed business
combination or that the approval of the shareholders of MoneyLion
is not obtained; failure to realize the anticipated benefits of the
proposed business combination; risks relating to the uncertainty of
the projected financial information with respect to MoneyLion;
future global, regional or local economic and market conditions;
the development, effects and enforcement of laws and regulations;
MoneyLion’s ability to manage future growth; MoneyLion’s ability to
develop new products and solutions, bring them to market in a
timely manner, and make enhancements to its platform; the effects
of competition on MoneyLion’s future business; or, the outcome of
any potential litigation, government and regulatory proceedings,
investigations and inquiries. 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. There may be additional risks that MoneyLion presently
knows or that MoneyLion currently believes are immaterial that
could also cause actual results to differ from those contained in
the forward-looking statements. In addition, forward-looking
statements reflect MoneyLion’s expectations, plans or forecasts of
future events and views as of the date of this press release.
MoneyLion anticipates that subsequent events and developments will
cause its assessments to change. However, while MoneyLion may elect
to update these forward-looking statements at some point in the
future, MoneyLion specifically disclaims any obligation to do so.
These forward-looking statements should not be relied upon as
representing MoneyLion’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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211116005479/en/
Cody Slach, Alex Kovtun Gateway Investor Relations (949)
574-3860 ML@gatewayir.com MoneyLion Communications
pr@moneylion.com
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