Creatd Announces Acquisition of DTC Hydration Brand, Basis; Confirms Year-End Revenue Guidance; Raises $2.7MM in Registered Direct Offering
NEW YORK, March 7, 2022 /PRNewswire/ -- Creatd, Inc. (Nasdaq CM: CRTD) ("Creatd" or the "Company"), a creator-first holding company, today announced that it has completed its acquisition of Basis, a direct-to-consumer hydration brand with strong sales volume both on the brand's website as well as through third-party distribution channels such as Amazon.
Founded in 2017, Basis is a hydrating electrolyte drink mix formulated using rehydration therapies developed by the World Health Organization. Creatd's acquisition of
Commented Tom Punch, CEO of Creatd Ventures, "This acquisition marks an exciting double win: Basis' wellness-oriented electrolyte mixes are a natural fit within Creatd Ventures' portfolio and, as a wellness-rooted brand, its close alignment with Dune will help fuel the introduction of new products catered to an already-established health and wellness consumer base."
Continued Punch, "I am confident that the addition of Basis will further ramp up Creatd Ventures' revenues. At the same time, Creatd Ventures has fully consolidated its supply chain and distribution infrastructure, such that Basis' revenues can be maximized from the get-go without incurring outsized implementation costs. There's power in numbers and data. We will continue vetting acquisition targets that are both complementary to our existing brand portfolio and that, as with Dune and Camp, are marketable to consumers on a scalable subscription basis."
Said Creatd CEO Laurie Weisberg, "Since inception, Creatd Ventures has experienced
The Company has released preliminary results for year-end 2021. For the fiscal year 2021, the Company generated approximately
The Company has also announced a
Commenting on the financing, Creatd's Executive Chairman Jeremy Frommer said, "Given current market conditions and the great demand for participation in the
About Creatd
Creatd, Inc. (Nasdaq CM: CRTD) is a creator-first technology holding company and the parent company of the Vocal platform. Our mission is to empower creators, entrepreneurs, and brands through technology and partnership. We accomplish this through Creatd's four business pillars: Creatd Labs, Creatd Partners, Creatd Ventures, and Creatd Studios.
For news and updates, subscribe to Creatd's newsletter: https://creatd.com/newsletter
Investor Relations Contact: ir@creatd.com
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SOURCE Creatd, Inc.