Veritone: Difference between revisions
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simplify wording and remove tranches (definitely TMI), restore ref to Washington Post; WP:PSTS |
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In addition to the company's Costa Mesa office, they have offices in [[Newport Beach, California]], [[San Diego, California]], [[Denver, Colorado]], [[Binghamton, New York]], [[New York City]], [[Seattle, Washington]], and [[London, England]].<ref name="10k"/> |
In addition to the company's Costa Mesa office, they have offices in [[Newport Beach, California]], [[San Diego, California]], [[Denver, Colorado]], [[Binghamton, New York]], [[New York City]], [[Seattle, Washington]], and [[London, England]].<ref name="10k"/> |
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[[Chad Steelberg]] is Veritone’s Chairman of the Board and CEO. His total compensation in 2019 was $285,408. His total compensation in 2018 was $18.7 million, of which $197,917 |
[[Chad Steelberg]] is Veritone’s Chairman of the Board and CEO. His total compensation in 2019 was $285,408. His total compensation in 2018 was $18.7 million, of which $197,917 was cash, and the remainder was stock options.<ref name="10k"/> His brother, [[Ryan Steelberg]], is the company's president. His total compensation in 2019 was $280,806. His total compensation in 2018 was $13.9 million, of which $270,833 was cash, and the remainder was in stock options. <ref name="10k"/><ref name="wash_Publ"/> |
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His brother, [[Ryan Steelberg]], is the company's president. His total compensation in 2019 was $280,806. His total compensation in 2018 was $13.9 million, of which $270,833 (2%) was cash compensation, and the balance was the non-cash value of stock options, primarily performance options, granted during that year. <ref name="10k"/> |
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The performance-based stock options granted to Chad Steelberg and Ryan Steelberg in 2018 will become exercisable in three equal tranches in the event that Veritone achieves stock price goals for its common stock of $49.15, $98.31 and $196.62 per share, respectively, and will have no realizable value unless such stock price goals are reached. <ref name="10k"/> |
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Peter F. Collins is EVP and CFO. |
Peter F. Collins is EVP and CFO. |
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Revision as of 19:21, 2 May 2020
Veritone Inc. is an artificial intelligence tech company based in Costa Mesa, California. It has a digital content licensing system, AI-powered legal discovery, facial recognition, and places ads on podcasts. Its products and services are used by over 2,000 customers, including over 100 local police agencies. It is traded on NASDAQ Global Market as VERI.
In addition to the company's Costa Mesa office, they have offices in Newport Beach, California, San Diego, California, Denver, Colorado, Binghamton, New York, New York City, Seattle, Washington, and London, England.[1]
Chad Steelberg is Veritone’s Chairman of the Board and CEO. His total compensation in 2019 was $285,408. His total compensation in 2018 was $18.7 million, of which $197,917 was cash, and the remainder was stock options.[1] His brother, Ryan Steelberg, is the company's president. His total compensation in 2019 was $280,806. His total compensation in 2018 was $13.9 million, of which $270,833 was cash, and the remainder was in stock options. [1][2]
Peter F. Collins is EVP and CFO.
In 2017 the company acquired Atigeo Corporation. The company IPOed on May 12, 2017. Their losses were $59.6 million this year.[1]
In 2018 the company acquired Machine Box (for $4.5 million), Wazee Digital (for $12.6 million), Performance Bridge (for $9.1 million), and S Media Limited. The company reported $27 million in revenue, with losses of $61.1 million.[1]
In 2019 the company placed over $200 million in ads for their clients, including 1-800-FLOWERS.com, Audible, DraftKings, Express VPN, HelloFresh, LinkedIn, SimpliSafe, and Uber. As of February 2020 the company had 277 employees. The company reported $50 million in revenue, with losses of $62.1 million.[1]
In April 2020, the company received a $6.5 million in federally backed small business loans from Sunwest Bank as part of the Paycheck Protection Program. The company received scrutiny over this loan, which meant to protect small and private businesses. Washington Post noted the high compensation to the Steelberg brothers.[2][3][4][1]
References
- ^ a b c d e f g "veri-10k_20191231.htm". sec.gov. Retrieved 1 May 2020.
- ^ a b "Public companies received $1 billion in stimulus funds meant for small businesses". Washington Post. Retrieved 1 May 2020.
Veritone, a company based in Costa Mesa, Calif., that provides artificial intelligence technology, paid chief executive Chad Steelberg $18.7 million in total compensation in 2018, the last year for which data is available. His brother, Ryan Steelberg, the company's president, made $13.9 million. The company received $6.5 million in funding from the program. The company did not respond to a request for comment.AD
- ^ "FORM 8-K". sec.gov. Retrieved 1 May 2020.
- ^ "Veritone Secures $6.5 Million of Loans Under Paycheck Protection Program Provisions of CARES Act". sec.gov. Retrieved 1 May 2020.