Creatd, Inc. Announces Spin-Out of Orbit, a New Social Media Platform for the Investment Community

Published on December 11, 2023

Creatd, Inc. ($VOCL), a pioneer in digital technology and creator-centric platforms, today announced the strategic spin-out of its subsidiary, Orbit Media LLC. This move marks a significant step in Creatd's evolution into a publicly-traded holding company with a focus on technology and data-driven enterprises.

Creatd Inc. is divesting private interests in three major business divisions, reducing its ownership to less than 49% for each entity. This includes Orbit Media LLC, Vocal Inc., and OG Collection Inc. This decision will streamline Creatd's operational expenses significantly and remove Orbit from its consolidated balance sheet, thereby minimizing future liabilities.

Orbit Media LLC, now an autonomous entity, is poised to introduce its groundbreaking social media application on both iOS and Android in Q1 2024. The Orbit app is designed to offer a dynamic and engaging community for investors, facilitating discussion, learning, and market tracking across various sectors, including small-caps and cryptocurrencies.

Additionally, Orbit Media LLC is considering a Regulation Crowdfunding (Reg CF) campaign, underpinning its commitment to democratize access to financial markets and promote transparency.

While Creatd transitions to a minority stakeholder with an 18% interest in Orbit Media LLC, it ensures a symbiotic relationship that fosters continued growth and innovation. This approach mirrors Creatd's previous strategic divestments in CPG brands Brave and Basis, where Creatd maintains a 7.5% stake in each company. In addition, Creatd maintains royalty and service agreements with its minority interest portfolio positions.

Nicholas Scibilia, CEO of Orbit, comments on the current market landscape: "The existing social media space for investors is fragmented, creating a significant opportunity. Orbit is strategically positioned to fill this gap, catering to the needs of traders, investors, and anyone disillusioned with the current platforms. We're not just launching an app; we're pioneering a cohesive and reliable community for financial enthusiasts."

The debut of Orbit signifies more than a product launch; it embodies Creatd's ongoing commitment to empowering creators and investors and underscores its dedication to continuous innovation in the digital space.

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