Zedge acquires GuruShots for up to $34.8M; expects to more than double revenue

Zedge, Inc.

Total purchase price up to $34.8M: $18M cash at closing, up to $16.8M earnout over 2 years, plus $8M retention pool over 3 years.
GuruShots ARPMAU >$3.50 (vs Zedge $0.06); 5B votes/month across 300+ competitions; 18% CAGR in avg revenue per paying user over 6 years.
Deal effective April 1, 2022; Zedge expects to more than double consolidated revenue over time via user growth and synergies.
GuruShots' gamification expertise to be embedded across Zedge's portfolio to boost engagement and revenue; user base 65%+ in developed markets.
Opportunity to convert GuruShots' 1M+ monthly photo uploaders into Zedge Premium/NFT artists; expands creator economy focus.

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