Banzai Agrees to Acquire OpenReel, Growing TTM Revenue Over 150%

December 10, 2024

DENVER, Colo., Dec 10, 2024 (247marketnews.com)- Banzai International (NASDAQ: BNZI) stated that the Company agreed to acquire OpenReel, a digital video creation platform that enables companies to rapidly create high-quality, branded video content. OpenReel’s enterprise customer roster includes Bristol Myers Squibb, Ingram Micro, DXC Technology, for $19.6 million in shares of Banzai Class A Common Stock, and/or Pre-Funded Warrants exercisable for shares of Class A Common Stock.

Joe Davy, Banzai’s Founder and CEO, commented, “Video is the future of enterprise marketing. OpenReel gives their customers a 10x advantage when creating branded video content. Their enterprise customers are a testament to the power of their solution.”

Lee Firestone, OpenReel’s CEO and co-founder, added, “We’re thrilled to join the Banzai family and take OpenReel to new heights. With Banzai’s support, we’re confident in accelerating the growth of our technology while becoming an integral part of their robust suite of marketing tools. We believe that OpenReel is the perfect complement to Demio, enabling seamless cross-collaboration and enhancing the value we deliver to marketers worldwide.”

About 24/7 Market News
As a pioneer in digital financial market media, 24/7 Market News (24/7MN) is dedicated to the swift distribution of financial market news and information. 24/7 MN incorporates comprehensive corporate communications resources and tools to engage the investment community. Visit 24/7 Market News website here.

24/7 MARKET NEWS, INC Disclaimer
Please go to https://247marketnews.com/disclaimer/ for disclaimer information.

CONTACT:
24/7 Market News
Editor@247marketnews.com

Related news for (BNZI)

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.