Market intelligence firm MarTech Breakthrough has recognized Orlando-headquartered Izea Worldwide Inc. (Nasdaq: IZEA) as the top influencer marketing company in the world.
Founded in 2006, Izea is one of 21 public companies in the region. The firm was the first self-described influencer marketing agency and first began trading on the Nasdaq in 2016.
MarTech Breakthrough assessed entries in a variety of categories relevant to marketing technology, including innovation, performance, ease of use, functionality, value and impact.
Why this matters: When local tech firms are recognized nationally or globally for AI or simulation development and application, it can attract more startups in similar fields to choose Orlando for their headquarters, given that strong businesses in these disciplines indicate an ecosystem that supports tech business.
Influencer marketing — when a social media content creator with a significant following is paid to post self-created media to support a brand — was controversial when Izea first set up shop. At the time, skeptics questioned whether audiences would or should trust this type of promotional content.
Today, the influencer marketing industry is valued at $21.1 billion, up by 28.7% compared to last year according to Statista, a German company that provides statistics, reports and market insights.
Izea’s first platform, PayPerPost, was the first that facilitated influencer marketing at scale. Now, the market is crowded with competing platforms such as Upfluence, CreatorIQ, Klear and others.
In June, Izea announced a new product called FormAI, a free suite of generative AI tools that leverages ChatGPT and Stable Diffusion to help influencers and marketers enhance their creative process.
The company’s use of AI is the reason for the award, said Izea CEO Ted Murphy in a prepared statement. “As pioneers in the influencer marketing industry, we recognize the impact and significance of embracing new tech advancements like AI to enhance the creative process and maximize results for our customers."
In January, Izea rolled out Izea Flex, described by a company news release as “a data-centric suite of marketing tools that allow users to track, customize and export relevant data, from creator profiles to campaign metrics.”
The platform is designed to help businesses determine the effectiveness of campaigns and track return on investment.
In addition to marketing platforms, Izea provides managed services to enterprise-level business. On Aug. 18, Izea announced a new six-figure contract with a consumer packaged goods client. On Aug. 10, the firm announced a new contract with an unnamed Fortune 1000 internet and technology client.
Izea had $41.1 million in revenue last year, with a $4.5 million net loss. Its stock has a 52-week range of $1.93-$3.64 per share.
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