Company Overview - Banzai International, Inc. is a leading marketing technology company that provides essential marketing and sales solutions, with a vision to build an AI-powered platform to help businesses grow [3][6] - The company has successfully closed the acquisition of OpenReel, a digital video creation platform, enhancing its service offerings [1][4] Acquisition Details - The acquisition of OpenReel involved issuing 930,558 shares of Class A Common Stock and 11,769,501 Pre-Funded Warrants, totaling $19.6 million [4] - OpenReel's platform allows companies to create high-quality, branded video content efficiently, serving a diverse customer base including Fortune 500 companies [2][5] Financial Outlook - Banzai plans to exceed its previously disclosed revenue guidance of $10.0 million for FY 2024, indicating strong growth expectations [1]
Banzai Completes Acquisition of OpenReel, Expects to Exceed $10.0 Million 2024 Revenue Guidance