Banzai Executes LOI to Acquire Top Rated Lead Generation

SEATTLE, Jan. 05, 2024 (GLOBE NEWSWIRE) — Banzai International, Inc. (NASDAQ: BNZI) (“Banzai” or the “Company”), a leading marketing technology company that provides essential marketing and sales solutions, today announced that it has signed a non-binding letter of intent (the “LOI”) to acquire IGLeads, a cutting-edge automated lead generation platform. Unlike competitive products that rely on firmographic data, IGLeads uses search criteria leading to 100% verified, targeted lead generation.

With the proposed strategic acquisition of IGLeads, Banzai would be poised to significantly enhance its audience acquisition services, executing its strategic commitment to acquiring best-in-class, data-focused products that serve marketers everywhere. IGLeads stands out as a top-rated lead generation solution that uses search criteria, rather than firmographic filters, to extract valuable contact data from the most extensive public databases and leading social media platforms, all in one interface. IGLeads enables marketers to construct qualified, target audiences based on intent signals such as conversation topics and interests, rather than traditional firmographic filters.

“IGLeads has built a unique way to deliver verified target audiences based on interest, intent, and social engagement versus traditional firmographics. IGLeads is well suited for Banzai’s customers, and we’re excited to have a chance to integrate its capabilities into our other offerings,” said Joe Davy, CEO and Founder of Banzai. “Brandon has built an efficient, profitable, and high-growth business. We’re excited to take it forward to the next stage of growth.”

Compelling Strategic and Financial Benefits

• Profitable growth business: IGLeads is a highly profitable, rapidly growing business that Banzai can leverage to drive additional scale and acquisition opportunities.
• Complementary product offering: Banzai intends to integrate IGLeads’ all-in-one lead generation platform to better serve existing customers with cross-sell opportunities.
• Highly rated: IGLeads has close to 1,000 customers and is one of the top-user-rated lead generation solutions with a 4.7 star rating on TrustPilot.

Brandon King, CEO and Founder of IGLeads commented: “Getting IGLeads to this point is a testament to the hard work and success of our team, and we believe IGLeads would be a notable addition to the Banzai platform and to Banzai’s customers. We are excited to pursue an opportunity to join Banzai and support the progression of their award-winning innovation initiatives that are working to democratize data in the MarTech space.”

About Banzai

Banzai is a marketing technology company that provides essential marketing and sales solutions for businesses of all sizes. On a mission to help their customers achieve their mission, Banzai enables companies of all sizes to target, engage, and measure both new and existing customers more effectively. Banzai customers include Square, Hewlett Packard Enterprise, Thermo Fisher Scientific, Thinkific, Doodle and ActiveCampaign, among thousands of others. Learn more at www.banzai.io. For investors, please visit https://ir.banzai.io/

About IGLeads

IGLeads.io, established in 2021, provides innovative solutions in social media and B2B scraping across multiple platforms, offering an efficient lead generation service without the need for logins or proxies. Our team of experts is committed to excellence, customer satisfaction, and integrity. We pride ourselves on staying ahead of industry trends and adapting to meet our clients’ diverse needs in the Technology SaaS sector. As a leader in this field, we offer tailored support for businesses of all sizes, aiming to drive success and growth through effective lead generation.

Forward-Looking Statements

Certain statements included in this press release are forward-looking statements within the meaning of “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “propose,” “plan,” “project,” “forecast,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “target,” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to statements regarding the proposed acquisition of IGLeads and the success, if an acquisition is completed, of the acquisition, estimates and forecasts of, financial and performance metrics, projections of market opportunity and market share, expectations and timing related to commercial product launches or success, ability to accelerate Banzai’s go-to-market strategy and capitalize on commercial opportunities, and the potential success of Banzai’s go-to-market strategy. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Banzai’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. These forward-looking statements are subject to a number of risks and uncertainties, including: the failure to enter into a definitive agreement to acquire IGLeads for any reason, including as a result of due diligence, or complete the acquisition of IGLeads, including as a result of closing conditions not being met, the failure to maintain Nasdaq listing of Banzai’s securities; changes in domestic and foreign business, market, financial, political and legal conditions; uncertainty of the projected financial information with respect to Banzai; Banzai’s ability to successfully and timely develop, sell and expand its technology and products, and otherwise implement its growth strategy; risks relating to Banzai’s operations and business, including information technology and cybersecurity risks, loss of customers and deterioration in relationships between Banzai and its employees; increased competition; potential disruption of current plans, operations and infrastructure of Banzai as a result of operating as a new public company; difficulties managing growth and expanding operations; the impact of geopolitical, macroeconomic and market conditions; the ability to successfully select, execute or integrate future acquisitions into the business, which could result in material adverse effects to operations and financial conditions; and those factors discussed in its Annual Report on Form 10-K for the fiscal year ended December 31, 2022, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2023, June 30, 2023, and September 30, 2023, the registration statement on Form S-4 (together with all amendments thereto, the “Registration Statement”) initially filed on August 31, 2023, and the definitive proxy statement / prospectus contained therein, in each case, under the heading “Risk Factors,” and other documents of Banzai filed, or to be filed, with the Securities and Exchange Commission. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, forward-looking statements reflect Banzai’s expectations, plans or forecasts of future events and views as of the date of this press release. Banzai anticipates that subsequent events and developments will cause Banzai’s assessments to change. However, while Banzai may elect to update these forward-looking statements at some point in the future, Banzai specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Banzai’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Contacts:

Investors
Ralf Esper
Gateway Group
949-574-3860
bnzi@gateway-grp.com

Media
Brenlyn Motlagh, Christina Lockwood
Gateway Group
617-797-1979
bnzi@gateway-grp.com