NetworkNewsBreaks – Creatd Inc. (NASDAQ: CRTD) A
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Posted On: 11/17/2020 2:43:00 PM
NetworkNewsBreaks – Creatd Inc. (NASDAQ: CRTD) Announces Financial Numbers, Key Milestones for Third Quarter
Creatd (NASDAQ: CRTD), the parent company of Vocal, a proprietary technology platform for creators of all types, reported its financial numbers and outlined several business milestones achieved during its three-month and nine-month periods ending Sept. 30, 2020. Highlights of the report include Q3 revenues of $425,000, an increase of more than 32% compared to Q2 revenues of $323,000 and a fourfold increase over revenues of $91,000 for the same period last year. The company attributed the growth in revenues primarily to the increase of Vocal+ paid subscribers and the rising price points for Vocal for Brands’ campaigns. Other highlights include the appointment of new board members and executives, uplisting to the NASDAQ Capital Market, the completion of an underwritten public offering resulting in gross proceeds of approximately $7.8 million, and development updates and optimization for the Vocal platform. “Just under four years ago, in December 2016 , we launched our proprietary platform Vocal, with less than 1,000 beta creators and six owned and operated digital communities,” said Creatd founder and CEO Jeremy Frommer in the press release. “Fast forward to today, we have been able to onboard over 800,000 freemium creators who have collectively published over 150 million words on Vocal, and attract nearly 10 million visitors monthly. These accomplishments were achieved with comparatively few development and marketing resources, compared to other privately funded creator platforms. Now, with a significantly strengthened balance sheet, enhanced visibility from our listing on the Nasdaq Capital Market, and the collaboration of a powerful support network, we believe Creatd is prepared to scale revenues and that our Vocal platform is the driving force that will deliver profitability during fiscal year 2021.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Creatd (NASDAQ: CRTD), the parent company of Vocal, a proprietary technology platform for creators of all types, reported its financial numbers and outlined several business milestones achieved during its three-month and nine-month periods ending Sept. 30, 2020. Highlights of the report include Q3 revenues of $425,000, an increase of more than 32% compared to Q2 revenues of $323,000 and a fourfold increase over revenues of $91,000 for the same period last year. The company attributed the growth in revenues primarily to the increase of Vocal+ paid subscribers and the rising price points for Vocal for Brands’ campaigns. Other highlights include the appointment of new board members and executives, uplisting to the NASDAQ Capital Market, the completion of an underwritten public offering resulting in gross proceeds of approximately $7.8 million, and development updates and optimization for the Vocal platform. “Just under four years ago, in December 2016 , we launched our proprietary platform Vocal, with less than 1,000 beta creators and six owned and operated digital communities,” said Creatd founder and CEO Jeremy Frommer in the press release. “Fast forward to today, we have been able to onboard over 800,000 freemium creators who have collectively published over 150 million words on Vocal, and attract nearly 10 million visitors monthly. These accomplishments were achieved with comparatively few development and marketing resources, compared to other privately funded creator platforms. Now, with a significantly strengthened balance sheet, enhanced visibility from our listing on the Nasdaq Capital Market, and the collaboration of a powerful support network, we believe Creatd is prepared to scale revenues and that our Vocal platform is the driving force that will deliver profitability during fiscal year 2021.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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