Banzai Completes Acquisition of Vidello, Boosting Revenue and Expanding Portfolio
Deal News | Feb 03, 2025 | Globenewswire
Banzai International, a prominent marketing technology company, has finalized its acquisition of Vidello, a London-based provider of video hosting and marketing solutions. This strategic move is projected to elevate Banzai's revenue by $6.5 million and boost EBITDA by $2 million for the year ending December 2024 on a pro-forma basis. Vidello, known for its advanced video creation, hosting, and marketing tools, adds to Banzai's portfolio, aligning with its vision to develop AI-powered marketing solutions. The deal, detailed in recent SEC filings, involves a cash and stock transaction valued at approximately $2.7 million in cash and 868,204 shares of Banzai stock. This acquisition supports Banzai's strategy to deliver comprehensive marketing technologies to its broad customer base, including high-profile names such as Cisco and New York Life. Forward-looking statements indicate optimistic expectations for the growth and integration of Vidello's offerings into Banzai's existing suite.
Sectors
- Marketing Technology
- Video Hosting and Marketing
Geography
- United States – Banzai International is based in Seattle, which is located in the United States.
- United Kingdom – Vidello is based in London, indicating its geographical location in the United Kingdom.
Industry
- Marketing Technology – Banzai is a marketing technology company that provides AI-enabled marketing and sales solutions.
- Video Hosting and Marketing – Vidello provides video hosting and marketing suite solutions, making it relevant to the video hosting and marketing industry.
Financials
- $6.5 million – Expected increase in Banzai's revenue for the twelve-month period ended December 31, 2024.
- $2 million – Increase in EBITDA for Banzai on a pro-forma basis post-acquisition.
- $2.7 million – Cash component of the acquisition deal for Vidello.
- 868,204 shares – Banzai Class A Common Stock issued as part of the acquisition transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Banzai International, Inc. | Acquirer | Company | A marketing technology company providing AI-enabled marketing solutions. |
| Vidello | Target Company | Company | A provider of video hosting and marketing suite solutions for businesses. |
| Rachel Meyrowitz | Director, Demand Generation at Banzai | Person | Responsible for media communications and demand generation at Banzai. |