Skip to main content

Orlando, Florida (June 15, 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 will be fully restoring employees’ salaries to their pre-COVID levels beginning July 1, 2020. The company had previously announced, via Form 8-K filed on April 23rd, reductions of 19-21% for all employees, including management, and also reduced pay for the company’s Board of Directors.

“The entire IZEA team has been working diligently to overcome the global crisis brought on by COVID-19,” said Ted Murphy, Founder and CEO of IZEA. “I want to thank them for their commitment and willingness to make personal sacrifices for the good of the company and our shareholders. This team is truly dedicated to our mission and I am honored to lead them.”

“Over the past several weeks we have gained significant confidence in our core business. We are still very much so monitoring the situation, but current indications lead us to believe we are through the worst of the impacts,” continued Murphy. “We expect managed services bookings to deliver growth this quarter despite the significant drop in March and April that we previously shared on our earnings call. As we look forward to the second half of the year, we are also seeing the pipeline build in both managed services and SaaS and have new revenue opportunities with Shake.”

“In addition to the sales rebound, we have also added $13.1 million to the company’s balance sheet in the past week through our previously disclosed at-the-market offering. This capital will enable us to fund ongoing operations and invest in the growth of the business. We are emerging from the initial effects of COVID-19 both more efficient and in a substantially stronger financial position,” added Murphy. “We are focused on capitalizing on the increased interest in influencer marketing in a variety of ways.”

IZEA previously announced that it temporarily closed all offices and chose not to renew the lease on its headquarters, which expired in April. The company will remain 100% remote near-term and will not be signing any new leases until such time that management feels employees would be safe and comfortable in an office environment.

Please read our Safe Harbor Statement >>