- Vocal, Inc., a subsidiary of Creatd, Inc., bolsters its tech platform’s standing in the creator economy and plans to secure funding for expansion through direct investment.
- Creatd announces it will file Q2 2023 gross revenues of $800,000, coupled with notable decreases in operating costs.
- Since its listing on the OTCQB Venture Market in September 2022, Creatd’s trailing 12-month revenues have remained consistent, nearing $3.5 million.
- CEO and Chairman Jeremy Frommer will be hosting an X (formerly Twitter) Space on 8/17/23 at 12PM EST to review its strategic plan in more detail: https://twitter.com/i/spaces/1BdGYyENkYyGX
NEW YORK, Aug. 14, 2023 /PRNewswire/ — Creatd, Inc. $VOCL; (“Creatd” or the “Company”), the parent company of Vocal, today announced Q2 2023 financial results and a series of strategic developments within its subsidiaries and assets aimed at unlocking their true value. It’s the Company’s intention to create multiple standalone public entities from its portfolio of assets.
Creatd is proud to announce it has successfully structured Vocal, Inc., as a private subsidiary to independently house and raise capital for the Vocal technology platform. This decision stems from the management team’s belief in Vocal’s intrinsic value in the private market, estimated to be between $60 million and $100 million. Recent private valuations of the Company’s competitors have been estimated at between $600 million and $1 billion. The Company intends to eventually create enough shareholder support to IPO Vocal, Inc. separate and apart from the holding company.
Vocal, Inc. is gearing up to launch a Regulation Crowdfunding (“Reg CF”) raise, in which Creatd will maintain majority ownership of the subsidiary. The offering will be up to $5 million in a high-yielding participating preferred security specific to the private company Vocal, Inc. and not directly tied to Creatd’s common stock.
Chairman and CEO Jeremy Frommer said, “In today’s markets, individual pieces of a business…