IZEA Worldwide (IZEA) Stock Climbs On New Customer

IZEA Worldwide IZEA Stock News

IZEA Worldwide Inc (NASDAQ: IZEA) is making a run for the top in the market this morning after the company announced that it has brought in a new Fortune 500 customer. Here’s what you need to know:

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IZEA Stock Rockets On Fortune 500 Customer

In the press release, IZEA Worldwide said that it has secured a significant six-figure contract. The contract surrounds influencer marketing managed services and was signed with a Fortune 500 customer.

Moreover, IZEA said that it has secured a varity of contracts with repeat customers. Importantly, this includes the renewal of a contract with a Global Fortune 500 technology company.

In a statement, Ted Murphy, Chairman and CEO at IZEA, had the following to offer:

The events of the past several months have fundamentally changed the global marketing landscape. We believe that IZEA’s platforms and services are well positioned to benefit from a redistribution of marketing dollars from traditional media to social media. Recent commitments from our customers increase our level of confidence that influencer marketing will be an area of escalating investment in the future.

IZEA continues to see a strong recovery of our managed services business following the initial negative impacts we observed due to COVID-19. 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. The SaaS business is also starting to show early signs of recovery as businesses begin to reopen and gain more comfort with the longer-term commitments required for those licensing our software.

This News Is Huge

Ultimately, IZEA Worldwide and its investors have to be happy at the moment. The company’s influencer marketing technology is paying off in dividends, and not only is the Fortune 500 company in technology that’s already involved renewing services, the company has brought in another massive company.

The truth of the matter is that when big companies sign on, the move acts as a source of validation for the company’s technology and work to bring it to the market. As large companies continue to take part in the company’s services, it is quickly building itself as a top brand in influencer marketing, and that’s exciting for IZEA stock and everyone that owns it.

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