Thumzup Media, which provides a mobile app to connect social media influencers with brands, announced terms for its IPO on Friday.
The Los Angeles, CA-based company plans to raise $6 million by offering 1 million shares at a price range of $5 to $7. At the midpoint of the proposed range, Thumzup Media would command a market cap of $52 million.
The company's app is designed to connect advertisers with individuals who are willing to tell their friends about the advertisers' products. Through the app, individuals can select brands, take photos with their products for social media, and be provided with captions for them to post on their accounts. Upon review, the advertisers pay the influencers for their services.
Thumzup Media was founded in 2020 and plans to list on the Nasdaq under the symbol TZUP. Dawson James is the sole bookrunner on the deal.
