Banzai, an end-to-end video engagement platform, and 7GC & Co. Holdings Inc. (VII), a publicly-traded special purpose acquisition company, entered into a definitive business combination agreement that will result in Banzai becoming a publicly traded company. Upon closing of the proposed transaction, the combined company will be named Banzai International, Inc. and is expected to trade on Nasdaq.
Additionally, Banzai will acquire Hyros , an ad tracking and attribution software, for $110 million in a primarily stock transaction immediately prior to closing the merger with VII. The acquisition is expected to enhance Banzai’s role as a full-stack marketing technology platform, expand its total addressable market and accelerate its long-term revenue growth and operational efficiency.
“Nobody owns the marketing category for video engagement, making Banzai a trailblazer for the industry,” said, Joe Davy, CEO and Founder of Banzai, in a statement. “Banzai satisfies engagement marketing needs with its fully integrated platform delivering analytics, audience and engagement features to marketers. With the capital from our business combination with VII, we expect to continue hyper-scaling to become the leading video engagement platform for marketers.”