Blackbird PLC (LSE:BIRD) has completed a £500,000 fundraising through the issue of 22,222,222 new ordinary shares, strengthening its balance sheet and providing additional resources to accelerate development and marketing of its elevate.io platform.
The proceeds will be used to support elevate.io during its product–market fit phase, with a particular focus on expanding marketing activity to drive customer acquisition and establish recurring revenue streams. Management also plans to use the capital to scale operations in response to growing demand within the rapidly expanding Creator Economy.
Despite the successful raise, Blackbird continues to face challenges around profitability and cash generation. While the company maintains a solid equity position and recent strategic progress offers potential upside, valuation concerns persist due to ongoing losses. Technical indicators suggest a relatively stable share price backdrop as the business works to convert product momentum into sustainable financial performance.
More about Blackbird PLC
Blackbird PLC is a technology company operating across the SaaS, media, and entertainment sectors. It develops patented cloud-based video editing and viewing solutions, including the BlackbirdⓇ platform for professional broadcasters and media organisations, and elevate.io, a browser-based collaborative content creation tool aimed at professional teams and the growing Creator Economy.
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