Creatd Inc Stock Price, News & Analysis

Creatd, Inc. (Nasdaq CM: CRTD) has announced a partnership between its wellness beverage brand, Dune Glow Remedy, and the popular retailer Urban Outfitters. This collaboration will feature Dune's products in Urban Outfitters' Spring/Summer assortment, highlighting their appeal to health-conscious consumers. Dune aims to enhance its market presence through this strategic alliance, leveraging Urban Outfitters' strong customer base. Dune founder Thomas Punch expressed pride in the brand's growth and recognition within the competitive wellness market.

Creatd, Inc. (Nasdaq CM: CRTD) reported a 255% increase in GAAP revenue to $4.3 million for FY 2021, with non-GAAP revenue at $6.9 million. The company anticipates 2022 GAAP revenue of $8-10 million and non-GAAP revenue of $15-18 million. Operating expenses doubled to $32.4 million, with a comprehensive loss of $37.4 million. Cash at year-end was $3.8 million. The company achieved over 1.3 million creators on its Vocal platform and plans to enhance its recurring revenue model while pursuing new acquisitions.

Creatd, Inc. (Nasdaq: CRTD) announces plans to spin off its OG Collection and OG Gallery into a new publicly traded entity by Q3 2022. This spin-off aims to unlock the intangible value of the OG Collection, appraised between $6 million and $8 million, while improving Creatd's balance sheet and reducing costs. The OG Gallery, a Web 3.0 platform, is expected to enhance growth and creator engagement. Creatd will retain a minority interest in the new company, distributing the remaining shares to shareholders.

InTandem, in collaboration with Google and other partners, has launched a complimentary mentorship program aimed at helping minority-founded startups, particularly those led by Black, female, and Latine/x/a/o entrepreneurs, to accelerate growth post-Series A funding. The program features a proprietary curriculum and offers strategic marketing insights from industry leaders and technology experts. Participating startups will benefit from a structured approach to enhance their marketing capabilities and infrastructure as they aim to scale effectively.

Creatd, Inc. (Nasdaq CM: CRTD) announced the acquisition of Basis, a direct-to-consumer hydration brand, strengthening its portfolio in the wellness market. Founded in 2017, Basis benefits from strong online sales and aligns with Creatd Ventures' strategy of scaling creator-led brands. Creatd projects significant revenue growth, expecting fiscal year 2022 non-GAAP revenue between $15 to $20 million. Additionally, the company raised $2.7 million through a registered direct offering, enhancing its financial position. The acquisition marks Creatd's fifth since 2019, aiming to leverage existing supply chains for maximizing Basis' revenues.

Creatd, Inc. (Nasdaq: CRTD) has successfully settled a dispute from June 2020, paying a total of $799,000, which includes $660,000 of principal and $139,000 of accrued interest. This settlement reduces the interest rate to approximately 15% annually. The principal was previously placed in escrow on January 25, 2021. Executive Chairman Jeremy Frommer expressed satisfaction with the resolution, thanking legal teams and the plaintiff for their cooperation.

Creatd, Inc. (Nasdaq CM: CRTD) announced the closing of a $2.5 million capital raise, led by Executive Chairman Jeremy Frommer, who invested $315,000 at $1.75 per share. This insider financing includes participation from the management team and long-term shareholders, with no associated banking fees. The company also relocated its headquarters to New York City, aiming to leverage the local talent market and contribute to the city's economic recovery. The financing will include registration rights for investors, with necessary filings expected shortly.

Creatd (Nasdaq CM: CRTD) announced leadership changes aimed at positioning the company for future growth. Effective February 17, 2022, Jeremy Frommer has transitioned from CEO to Executive Chairman, while Laurie Weisberg has been appointed sole CEO. The new independent board includes experienced members specializing in digital strategy, e-commerce, and finance, such as Joanna Bloor and Brad Justus. The restructured board aims to refine strategies for enhancing Creatd's success within the creator economy, leveraging their extensive networks and operational insights.