Company signs new Fortune 500 Insurance Customer, Expands Relationships with Existing Clients
Orlando, Florida (May 26, 2020) – IZEA Worldwide, Inc. (NASDAQ: IZEA), the premier provider of influencer marketing technology, data, and services for the world’s leading brands, announced today that it has established a new relationship with a Fortune 500 insurance company for influencer marketing services. The company has also expanded its relationships with a Fortune 100 food manufacturer and a leading multi-billion-dollar furniture goods manufacturer, among others.
“The surge of customer wins in recent weeks is simply remarkable,” said Ted Murphy, IZEA’s Chairman and CEO. “Our sales team has delivered a parabolic rebound curve following the initial impacts from the pandemic. It has been an inspiring demonstration of the commitment and grit of our team and I am very proud of what we have just accomplished together. As of today, Q2 bookings for managed services in 2020 have already exceeded Q2 bookings for the same period in 2019, despite the loss of traction with some customers due to the pandemic. All of this, while working from home in the most challenging of business climates.”
On May 14th the company released a chart detailing the decline and subsequent path recovery of managed services bookings as part of its Q1 earnings press release. Given the magnitude of increased bookings in the past week, the company has provided an updated chart reflecting recent data, which is attached to this press release. IZEA does not currently intend to provide subsequent updates to the chart. Future bookings may slow or be negatively impacted by cancellations.
“Not only has our 14-day average bookings trendline continued to be above our 14-day Pre COVID-19 average as measured from January 1, 2020 – March 15, 2020, we hit a new peak for 2020 on Friday, May 22nd, following a series of both large and small commitments from our customers,” continued Murphy. “We still have much work to do in order to continue this pace and recover from the setback delivered by Coronavirus. However, in many ways, I believe this company is in a much better place than we were 10 weeks ago. We remain focused on continuing our momentum and rebuilding our pipeline as quickly as we can.”
