IZEA Worldwide, Inc. specialized in providing influencer marketing technology, data, and services for the leading brands across the world received renewed contracts from two global retailers on Monday. It is said that those contracts were awarded by a retailer from a Fortune 500 company and the second one belongs to Fortune 10 company.
IZEA got new contracts from both companies on every quarter of previous year while this practice was disrupted in 1st quarter of this year but now it reactivates. While these are the first ever contracts for the IZEA to earn handsome revenue since the challenges created by COVID-19.
The company revealed this first time in May that it has received two contracts of worth $1 million from 2 customers and these contracts were signed on May 18th. The company had shown optimism about getting more projects for its services businesses in Q2 2020 as compared to previous year disruption in the economy and global supply change happened due to COVID-19.
The company’s SaaS business is showing signs of recovery as businesses all over the world starts to open up and now with ambition to solace with the longer-term contracts required for those licensing the company software.
Ted Murphy, IZEA’s Chairman and CEO said, “IZEA has enjoyed long-term relationships with these retail customers, providing both custom content for their e-commerce sites and influencer marketing services.”
He further added, “The company remains above the January 1-March 15 average bookings trendline we previously shared and we are optimistic about year over year managed services bookings in the second quarter, despite the pandemic.”
IZEA Worldwide, Inc. runs IZEAx brand that is a premier online marketplace serves marketers to connect with content creators. IZEAx elevates influencer marketing and custom content development, allowing brands and agencies to shell their marketing programs.
IZEA Worldwide, Inc. stock trading at NASDAQ has more tripled its value after the company gets awarded with new contracts. IZEA closed the Tuesday trading session at $2.08 a share with 65.08% increase.