Creatd, Inc. (Nasdaq CM: CRTD) (“Creatd” or the “Company”), the parent company of Vocal Ventures, LLC and Creatd Partners, LLC, today announced that Plant Camp, LLC, a consumer packaged goods company and a strategic partner of the Company through its corporate venture initiative, Creatd Partners, has entered its fulfillment phase.
Pre-orders for Plant Camp ‘s first product, a macaroni and cheese for kids packed with hidden veggie nutrients, have begun shipping, and new customer orders will be shipped within a window of one business day. This announcement comes several weeks ahead of schedule and approximately one month following Plant Camp’s successful pre-order launch.
Creatd Partners, LLC (“Creatd Partners”), wholly owned by Creatd, Inc., partners with and nurtures high-potential, early-stage companies that can meaningfully benefit by leveraging Creatd’s technology, resources and proven capacity to optimize visibility, reach, and conversions for direct-to-consumer products and services. Creatd Partners investments are subject to the completion of rigorous due diligence and independent valuation assessment, and may encompass a combination of financial and operational support in exchange for an equity stake in the business.
Describing the underlying idea behind Creatd Partners, Justin Maury, President and Founder of Creatd, commented, “We are leveraging what we are already doing for well-established brands on our Vocal platform. By partnering with and taking direct ownership stakes in up-and-coming DTC brands like Plant Camp, we are adding value to these early-stage businesses while at the same time investing in the value of Creatd, Inc. We believe these partnerships are designed to be a win-win for all stakeholders.”
As evident in Plant Camp’s early history, a partnership with Creatd is expected to enable founders to fast track capital access and brand development, which in turn would enable them to more rapidly identify supply chain and distribution infrastructure solutions. Plant Camp is currently developing additional products, the next of which are expected to be launched during the second quarter of 2021. Plans to expand distribution beyond direct-to-consumer e-commerce, to eventual placement at big box retailers, are expected to be announced in late 2021.
Under the terms of the transaction, Creatd, Inc. will receive a 30% ownership interest in Plant Camp, LLC in exchange for $175,000 in cash, $175,000 in stock, and the contribution of non-financial services. The transaction is supported by a third-party valuation analysis conducted by Valuescope, Inc., who assigned a $2.3 million fair value estimate. The definitive agreement is expected to be completed within the next 10 business days.
Plant Camp expects that its initial order of 16,000 units is on pace to be sold out by the end of April 2021. Units of Plant Camp’s mac and cheese are sold in packs of five and are available for $29.99 on plantcamp.com. The Company also anticipates demand increasing nearly 100% quarter-over-quarter this year, and does not expect any disruption in its supply chain.
Creatd Partners Pipeline
Creatd Partners is currently exploring opportunities that fit its criteria and risk profile, seeking partner companies that combine a quality product, seasoned founders, and the ability to leverage Creatd’s platform technology.
Current candidates include:
- Marketplace SaaS platform for influencers
- Marketplace SaaS platform for health and wellness
- DTC women’s health beverage product
- DTC gourmet meal delivery service
About Creatd
Creatd, Inc. (Nasdaq CM: CRTD), the parent company of wholly-owned subsidiaries Vocal Ventures, LLC and Creatd Partners, LLC empowers creators, brands, and entrepreneurs through technology and partnership. Its flagship product, Vocal, is a best-in-class creator platform. For more information, please visit:
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