• GoToWebinar for marketers.
• HubSpot, but specialized for interactive events and webinars.

• Demio: A browser-based webinar platform offering data and marketing features for live events and on-demand interactive video content.
• Boost: A SaaS solution enabling social sharing among event registrants.

Major Customers of Banzai International (BNZI)

Banzai International (BNZI) primarily sells its data-driven marketing and sales solutions to other businesses (B2B) rather than individuals. The company serves a diverse range of companies across various industries, including financial services, e-commerce, and technology.

While Banzai International does not publicly disclose specific "major customers" that account for a significant portion of its revenue in its financial filings, it highlights several companies as users of its Demio webinar platform. These representative customers include:

• Thinkific (TSX: THNC)
• Unbounce (private company)
• Teachable (private company, part of Hotmart)
• ActiveCampaign (private company)
• Aweber (private company)
• StoryBrand (private company)

• Amazon.com, Inc. (AMZN)
• Alphabet Inc. (GOOGL)

Joe Davy, Co-Founder, Chairman & CEO

Joe Davy co-founded Banzai in 2016. Prior to Banzai, he worked as a software engineer at IBM, founded EvoApp (a startup that was later sold in an asset acquisition in 2012), and served as a General Manager at Avalara, which went public in 2018. He also briefly managed a company backed by a private equity firm.

Dean Ditto, Chief Financial Officer

Dean Ditto will assume the role of Chief Financial Officer effective July 14, 2025, bringing over 30 years of financial leadership experience from both public and private companies. Before joining Banzai, he was CFO of Akerna Corp., a SaaS technology company, where he led a corporate restructuring that resulted in $6 million in annual cost savings. He also served as CFO for Mydecine Innovations Group, Inc., a biotech and life sciences company, where he raised $40 million through public and private offerings. His extensive career includes financial leadership positions at Sigue Corporation, OSI Systems, Dental Lab Holdings, KARL STORZ Endoscopy-America, Countrywide Home Loans, Giant Bicycle USA, and Ford Motor Company.

Simon Baumer, Chief Technology Officer

Simon Baumer leads Banzai International, Inc.'s technological innovation, digital transformation, and shapes its product development roadmap.

Michael Kurtzman, Chief Revenue Officer

Alvin Yip, Chief Accounting Officer

Alvin Yip previously held the position of Interim CFO at Banzai International before Dean Ditto's appointment.

1. Financial Instability and Liquidity Challenges: Banzai International faces significant financial instability due to persistent negative net income and substantial free cash flow burn. The company has experienced ongoing losses and negative shareholder equity, indicating that its liabilities currently outweigh its assets. This financial strain necessitates periodic funding, which introduces a risk of further share dilution for existing shareholders, as evidenced by past reverse stock splits and continuing cash needs.
2. Intense Competitive Pressure: The marketing technology (MarTech) industry, where Banzai International operates, is highly competitive. The company competes against well-established and larger rivals such as Adobe, Salesforce, and HubSpot. These competitors possess deeper financial resources and stronger brand recognition, making it challenging for Banzai to capture significant market share and improve profit margins.
3. Acquisition Integration and Execution Risks: Banzai International's growth strategy heavily relies on acquisitions. Integrating newly acquired companies, such as Vidello and Act-On, presents inherent risks. These include potential disruptions to operations, difficulties in combining different technologies and workforces, and challenges in realizing anticipated synergies. Failure to successfully integrate these acquisitions could negatively impact the company's profitability timelines and overall business performance.

The clear emerging threat to Banzai International (BNZI) is the aggressive expansion and integration of advanced webinar, live event, and social sharing capabilities by major communication and collaboration platforms such as Microsoft Teams, Zoom, and Google Meet. These dominant platforms are increasingly offering comprehensive solutions that include sophisticated data and marketing features, directly competing with Banzai's specialized Demio and Boost products. This trend allows larger players to leverage vast existing user bases, significant R&D budgets, and the ability to bundle services, potentially eroding the market share and perceived value of standalone, specialized solutions like those offered by Banzai International.

Here are the addressable market sizes for Banzai International's main products and services:

Demio (Webinar Platform)

The global webinar software market, which includes platforms like Demio, was valued at approximately USD 9.4 billion in 2024. This market is projected to grow to about USD 31.05 billion by 2033, demonstrating a Compound Annual Growth Rate (CAGR) of 14.2% during the forecast period from 2026 to 2033.

Regionally, North America is a dominant market, holding approximately 45% of the global share in 2024. Europe accounts for around 30% of the global market, while the Asia-Pacific region represents approximately 20% of the market share.

Boost (SaaS solution for social sharing by event registrants)

The addressable market for Boost, a SaaS solution for social sharing by event registrants, can be encompassed within the broader social media management market. The global social media management market was valued at an estimated USD 32.48 billion in 2025. This market is anticipated to reach approximately USD 164.52 billion by 2034, growing at a CAGR of 19.70% during the forecast period. Another estimate places the global social media management market size at USD 29.93 billion in 2025, projected to reach USD 171.62 billion by 2033, at a CAGR of 24.8% from 2026 to 2033.

In terms of regional breakdown for social media management, North America held the largest share, accounting for around 39.3% in 2025. Similarly, another report indicates North America's dominance with a 36% revenue share in the global social media management industry in 2025.

1. Strategic Acquisitions and Product Integration: Banzai International is actively pursuing and integrating strategic acquisitions to expand its revenue streams, customer base, and platform functionality. Recent examples include the acquisition of ClearDoc, Inc. (OpenReel) in December 2024 and Vidello, Ltd. in January 2025. The company has also signed a definitive agreement to acquire Act-On Software Inc., an enterprise marketing automation platform provider, which is projected to increase revenue by $27 million for the full year 2025 on a pro-forma basis.

2. Expansion of AI-powered Marketing Solutions: The company is focused on developing and launching new AI-enabled marketing solutions and integrating AI functionalities across its platform to capitalize on the rapidly expanding AI-driven MarTech market. Key initiatives include the launch of "Reach 2.0," a significant upgrade to its event marketing solution, and the acquisition of Superblocks, an AI platform for creating websites and landing pages. This aligns with the global MarTech industry's growth driven by digital transformation and AI adoption.

3. Customer Base Expansion and "Land and Expand" Strategy: Banzai International is demonstrating strong customer acquisition, having expanded its customer base to over 90,000 total customers in 2024 and further to over 140,000 by Q3 2025. The company's business model emphasizes cost-effective customer acquisition and a "Land and Expand" approach, encouraging existing customers to adopt more of its integrated product suite over time, thereby driving recurring revenue growth.

4. Penetration into Mid-Market and Enterprise Segments: Banzai International is increasingly targeting and securing expanded agreements with larger enterprises, as evidenced by its work with companies like RBC Capital Markets, Cisco, The Economist Impact, and CrowdStrike. This focus on higher-value mid-market and enterprise customer segments, particularly leveraging its video and webinar products, is expected to contribute to increased revenue and average revenue per user due to greater pricing power and cross-sell potential.

Share Issuance

• On September 24, 2024, Banzai completed a private placement that generated approximately $5 million in gross proceeds from the issuance of 1,176,471 shares of Class A common stock (or pre-funded warrants) and accompanying warrants.
• As part of the acquisition of ClearDoc, Inc. (OpenReel) in December 2024, Banzai issued 49,996 shares of Class A Common Stock and 1,176,950 Pre-Funded Warrants to certain shareholders.
• In February 2026, Banzai received approximately $1.6 million in net proceeds from a convertible promissory note, along with issuing Buyer Warrants and financial advisor warrants.

Inbound Investments

• Banzai secured approximately $5 million in gross proceeds from a private placement completed on September 24, 2024.
• In October 2025, Banzai entered into a convertible promissory note agreement for a principal amount of $2 million with YA II PN, LTD., receiving an initial advance of $890,000.
• In February 2026, the company received approximately $1.6 million in net proceeds from a convertible promissory note intended for general corporate purposes and working capital.

Outbound Investments

• In December 2024, Banzai acquired OpenReel (ClearDoc, Inc.), a digital video creation platform, for $19.6 million in consideration consisting of stock and warrants.
• In February 2025, Banzai completed the acquisition of Vidello, a video hosting and marketing suite, for up to $7 million.

Capital Expenditures

• Banzai International has reported negligible or zero capital expenditures over the last 3-5 years, with a 0% Capital Expenditure Compound Annual Growth Rate (CapEx CAGR) over the past 3 and 5 years.
• Specific capital expenditure figures are not consistently reported as "N/A" in available annual fundamentals and quarterly data from SEC filings.