IZEA Worldwide, Inc. and GP Investments, Ltd. Partner on a New Value Creation Plan
ORLANDO, Fla., Sept. 10, 2024 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (NASDAQ:IZEA), a leading provider of technology, data, and services for the Creator Economy, today announced a partnership with GP Investments, Ltd. and a series of value creation actions.
Antonio Bonchristiano and Rodrigo Boscolo of GP Investments, a global investment firm with flexible, long-term capital, are joining IZEA's Board of Directors. These appointments reflect GP's substantial IZEA shareholding and its track record in creating value across a range of enterprises. Regarding the partnership with GP Investments, Patrick Venetucci, CEO of IZEA said, "IZEA will benefit from Antonio and Rodrigo's experience and success in high growth, tech and tech-enabled businesses like ours. We welcome them and their ideas." Antonio said, "We look forward to leveraging our strategic, capital allocation and M&A experiences with the board for the good of all stakeholders."
Bonchristiano is the CEO and a board member of GP Investments, which he joined in 1993. Previously, he worked in London and New York for Solomon Brothers and Johnston Associates. Over the last three decades, he has served as a director on several boards, including AMBEV, Rimini Street, G2D Investments, BR Properties, among others. Boscolo is a Managing Director and the CFO at GP Investments since 2018. Before, he was a consultant at The Boston Consulting Group. Boscolo has also served on numerous boards of both private and public companies across geographies, including G2D Investments, Spice Private Equity, LEON Restaurants, Magnesita, Sascar, and Allis.
Additionally, IZEA's Chairman role is being separated from the CEO role to strengthen governance and enable the IZEA CEO to focus on the business. Lindsay Gardner, Independent Director of IZEA's Board, and long-time technology, media and telecom executive, is being appointed to Chairman of the Board.
IZEA's share buyback program is expanding from $5 million to $10 million as a demonstration of the Board's confidence in the company's ability to create more value.
A Strategy & Capital Allocation Committee is being formed to evaluate strategic options, sources and uses of capital, capital structure, and cash management.
The company is committing resources to M&A to capitalize on opportunities as they arise in the marketplace. The company reaffirms the previously stated commitment to pursue profitable growth.
The IZEA Board of Directors will be implementing these value creation actions effective immediately.
About IZEA Worldwide, Inc.
IZEA Worldwide, Inc. ("IZEA"), is a marketing technology company providing software and professional services that enable brands to collaborate and transact with the full spectrum of today's top social influencers and content creators. The company serves as a champion for the growing Creator Economy, enabling individuals to monetize their content, creativity, and influence. IZEA launched the industry's first-ever influencer marketing platform in 2006 and has since facilitated nearly 4 million transactions between online buyers and sellers. Leading brands and agencies partner with IZEA to increase digital engagement, diversify brand voice, scale content production, and drive a measurable return on investment.
About GP Investments, Ltd.
GP Investments, Ltd. ("GP") is an investment firm established in 1993. Since its foundation, the firm has deployed over $5 billion in more than 50 companies across multiple sector, geographies, and maturity levels. GP's unique active investment approach is rooted in engaged ownership, alignment of interests, and high-touch strategic and operational support. The firm has flexible, patient capital and seeks to build long-lasting enterprises. Since 2006, GP Investments has its Class A Shares traded in the form of Brazilian Depositary Receipts (BDRs) on the Brazilian Stock Exchange (B3 S.A. – Brasil, Bolsa, Balcão) under the ticker symbol GPIV33 and on the Luxembourg Stock Exchange. The firm currently has offices in São Paulo, New York, London and Bermuda.
Forward Looking Statements
Statements used in this news release relating to future plans, or events, are forward-looking statements subject to certain risks and uncertainties. Additional information concerning these and other risks and uncertainties is contained in the company's filings with the Securities and Exchange Commission (SEC), including the Annual Report on Form 10-K, and other periodic reports filed with the SEC. The company has no obligation to publicly update or revise any of the forward-looking statements in this news release.
Nicole O'Hara IZEA Worldwide, Inc. Phone: 407-674-6911 Email:[email protected]
