SOURCE: Jerrick Ventures, LLC

Jerrick Media

September 10, 2015 07:30 ET

Jerrick Ventures, Inc. Closes $3 Million Series A Preferred Stock Financing

Company to Use Proceeds to Expand Its Branded Digital Media Content and E-commerce Platform

NEW YORK, NY--(Marketwired - September 10, 2015) - Jerrick Ventures, Inc. ("Jerrick Ventures" or the "Company"), a digital media holding company focused on the development and marketing of branded digital content and e-commerce properties, announced today the completion of a $3 million private placement of Series A preferred stock. The Company intends to use the proceeds to expand its growing base of digital media properties and unique content to commerce platform.

Jerrick Ventures was founded in 2013 by two lifelong friends, Jeremy Frommer, a Wall Street Veteran and former Senior Managing Director in the Royal Bank of Canada's Global Equity Group, and Rick Schwartz, executive producer of Spike TV's hit show Lip Sync Battle and whose film credits include The Departed and Black Swan. The two executives formed the Company with an eye towards capitalizing on the growing shift in media and advertising from traditional channels toward targeted digital content. The Company operates from a new 15,250 square foot state-of-the-art production facility in Englewood, New Jersey, as well an office in New York City. Through its wholly owned subsidiary, Jerrick Media, the Company has created a disruptive alternative to traditional and contemporary media brands.

Since its inception, Jerrick Media has developed a number of unique themed brands providing original content catering to specific target demographics. These brands include:

  • OMNI Reboot (science, sci-fi)
  • iLongevity (health and fitness),
  • GeekRoom (comics/movies/pop culture)
  • Filthy Gorgeous Media (erotica, humor, and lifestyle)
  • The Corporate Culture (business-related news and analyses)

The company has also recently launched Viva Today, a new women's lifestyle and fashion vertical, with plans to add new verticals in additional markets with both web and video-based content in 2016.

"We are excited to have completed this initial round of financing to position our Company to take advantage of the explosive opportunity we see in this market," said Jerrick Ventures CEO and co-founder Jeremy Frommer. "We believe the traditional models for digital media companies are broken with no clear path to sustainable monetization and a tremendous amount of reliance on deriving traffic from third parties. We have methodically built our brands to be less reliant on other platforms or social media; our quantitative approach and deep focus on search engine optimization analysis is the key to our rapid success so far and our future growth. Our viewers are engaged by our content and they are also purchasing products related to that content more and more every day."

Jerrick Ventures co-founder Rick Schwartz added, "There is a fundamental shift in the digital landscape and we expect to be at the forefront. The digital revolution is unlocking the creative capability to develop relevant and engaging content for a fraction of the cost of traditional production methods. By marrying this original content in the foreground with a targeted commerce platform in the background, we create a scalable win-win scenario in each of our verticals. We look forward to building this platform into a digital media powerhouse for years to come."

Network 1 Financial Securities, Inc. acted as exclusive placement agent for the transaction. For information regarding the financing contact Network 1 Financial Securities, Inc., 2 Bridge Avenue, Suite 241, Red Bank, New Jersey 07701, Attention: Vincent LaBarbara, Managing Director, Investment Banking or email or by calling +1 (800)-886-7007.

Commenting on the transaction Vincent LaBarbara, Managing Director of Network 1 Financial Securities, stated, "We are pleased to have helped complete this initial capital infusion to fuel the growth of this dynamic young company. We see the combination of the creative and financial management experience of these two seasoned executives creating the perfect mix to build substantial long term value in this high growth industry."

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Jerrick Ventures:

Founded in 2013, Jerrick Ventures is a digital media holding company focused on the development and marketing of branded digital content and e-commerce properties. Its wholly owned subsidiary, Jerrick Media, is a disruptive alternative to the traditional as well as contemporary media brands. Producing and distributing premium digital media across multiple platforms for all demographics but especially centered on 18-34 year olds, the portfolio of brands rest upon a single creative and business architecture. All verticals are overseen by the same team and ideology, focusing primarily on revenue conversion as the premise behind all published material. Vintage styles are contemporized for a new audience, but follow proven guidelines of management; all content is meant to challenge, inspire and enlighten.

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