Yesterday, Victory Square Technologies Inc (OTCMKTS:VSQTF) was in the news after it made a major announcement with regards to a follow on investment in Creator.co, one of its portfolio companies.
However, the news could not reverse the tide for the Victory Square stock as it continued to slide and clocked losses of as much as 15% over the past week. As per the announcement from the company, it signed a Letter of Intent with Creator.co with regards to a follow on investment to the tune of as much as $1,000,000.
In this context, it should be noted that Creator.co is a wholly automated platform that is involved in connecting brands with influencers. Through this function, the company helps in creating content and brand awareness across a range of platforms like Facebook, Instagram, TikTok, Twitter and YouTube. At this point in time, in excess of 90,000 influencers are involved with the platform and helping brands in creating their campaigns.
It should be noted that as many as 10,000 new influencers are being added to the Creator.co platform on a monthly basis and that is an indication of the sort of growth that the company is enjoying. Hence, the follow on investment from Vision Square is perhaps understandable.