{"id":468521,"date":"2021-03-31T08:18:19","date_gmt":"2021-03-31T12:18:19","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=468521"},"modified":"2021-03-31T08:18:19","modified_gmt":"2021-03-31T12:18:19","slug":"creatd-inc-reports-fiscal-year-2020-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/creatd-inc-reports-fiscal-year-2020-financial-results\/","title":{"rendered":"Creatd, Inc. Reports Fiscal Year 2020 Financial Results"},"content":{"rendered":"
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– Creatd triples revenue YoY, reaches key target for Vocal+ subscription growth, and provides full year guidance for 2021.<\/h2>\n

– The Company has eliminated nearly all of its debt and payables, leaving a strong balance sheet.<\/h2>\n

– Creatd will discuss these results at today’s webcast and conference call, beginning at 11 AM EST.<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

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\n FORT LEE, N.J.<\/span>, March 31, 2021<\/span> \/PRNewswire\/ —\u00a0Creatd, Inc. (Nasdaq CM: CRTD) (“Creatd” or the “Company”), today announced its full year 2020 financial results.<\/p>\n

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\n “Creatd was founded with a few core principles in mind: to build an organization that is scalable and sustainable, one that leverages rapidly evolving technology, and capitalizes on it,”\u00a0commented Jeremy Frommer<\/span>, Creatd’s founder and CEO. “Equally as important, the Company must be competitive and defensible while actively engaged in forging synergistic relationships among its co-opetition. Where companies overlap on the Venn diagram of interests and business models, that is where co-opetition, or cooperative competition, occurs. In the technology space in particular, platforms can gain a unique edge by embracing a degree of co-opetition, aligning resources with industry peers to expand one another’s strengths, mitigate mutual weaknesses, and ultimately create a more valuable product, as well as a more compelling experience for all end users.”<\/span>\n <\/p>\n

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\n Frommer continued, “Co-opetition is a more than 100 year-old business strategy and has always been an important avenue for Creatd’s growth. Our foresight in applying these foundational principles of partnership over the years has worked to enhance our company’s ability to efficiently adapt to and thrive in the digital space, even in the face of the extreme external circumstances we faced this year.” <\/span>\n <\/p>\n

\n “2020 was, more than anything, a positioning year for the Company. We right-sized our balance sheet and executed on our creator-first business model, as well as expanded and improved our technology footprint. We attracted a marquee board of directors and the most capable executive management team I have put together in my 30+ year career. Our 2020 results demonstrate that we are optimally situated to capture the opportunities that exist within the creator marketplace. With the visibility and validation afforded by our up-listing to the Nasdaq, we can now confidently focus on building profitable revenue growth.”<\/span>\n <\/p>\n

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\n Full Year 2020 Financial Highlights<\/u>\u00a0<\/b>\n <\/p>\n