FORT LEE, N.J., June 7, 2021 /PRNewswire/ -- Creatd, Inc. (Nasdaq CM: CRTD) (the "Company" or "Creatd"), the parent company of Vocal, is pleased to announce that it is set to join the Russell Microcap® Index, according to a preliminary list of additions released on June 4, 2021. The conclusion of the Russell US Index's annual reconstitution is effective after the US market opens on June 28, 2021.
Membership in the Russell Microcap® Index, which remains in place for one year, means automatic inclusion in Russell's appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.
Creatd CEO Jeremy Frommer commented, "Creatd's inclusion in the Russell Microcap® Index is a testament to the great progress we have made in accelerating expansion and engagement in our Vocal communities, optimizing our internal infrastructure and operations, and advancing toward break-even as we prepare for our next stage of growth. We are excited about our milestones ahead in 2021, and we believe the visibility that Russell index inclusion affords will be a benefit to our existing shareholders and lead to greater awareness of Creatd throughout the investment community."
Company progress, achievements and milestones:
In less than five years since launch, the Company's flagship platform Vocal has amassed over 1 million registered creators, including over 25,000 premium Vocal+ subscribers. The Company projects that it will hit 100,000 premium Vocal+ members by year-end 2021.
The Company recently launched the Vocal Ambassador Program, representing the platform's first referral feature, which is designed to help the Company achieve its projected 100,000 premium subscribers by year-end 2021. To support its freemium and premium subscriber growth, the Company intends to continue to invest across multiple areas of its business, including a series of product enhancements and infrastructure updates anticipated to be rolled out on Vocal this year.
At year-end 2020, Creatd introduced Creatd Partners, its new business segment focused on corporate venture opportunities, and entered into its first agreement with direct-to-consumer health food brand Plant Camp. Creatd has since increased its total ownership stake in Plant Camp to 89%.
Russell indexes are widely used by investment managers and institutional investors and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell's US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell Microcap® Index and the Russell indexes reconstitution, please refer to the "Russell Reconstitution" section on the FTSE Russell website.
Creatd, Inc. (Nasdaq CM: CRTD) is a creator-first technology company and the parent company of the Vocal platform. Our mission is to empower creators, entrepreneurs, and brands through technology and partnership. We accomplish this through Creatd's three main business pillars: Vocal Ventures, Creatd Partners and Recreatd.
FTSE Russell is a leading global index provider creating and managing a wide range of indexes, data and analytic solutions to meet client needs across asset classes, style and strategies. Covering 98% of the investable market, FTSE Russell indexes offer a true picture of global markets, combined with the specialist knowledge gained from developing local benchmarks around the world.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $16 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create investment funds, ETFs, structured products and index-based derivatives. FTSE Russell indexes also provide clients with tools for asset allocation, investment strategy analysis and risk management.
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on index innovation and customer partnership applying the highest industry standards and embracing the IOSCO Principles. FTSE Russell is wholly owned by London Stock Exchange Group.
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