Auddia Secures Bridge Financing; Withdraws Pending S-1 Registration Statement; Details Acquisition Initiatives

Adds Bridge Financing

AUDDIA, developer of a proprietary AI platform for audio and technologies for podcasts, has secured bridge financing from investors. In light of the interim financing, AUDDIA has withdrawn its pending S-1 registration statement for a proposed secondary stock offering. AUDDIA has also noted potential acquisition targets for the near term.

AUDDIA Chief Marketing Officer THEO ROMEO commented, "Over the past 18 months, we have been in discussions with multiple AM/FM streaming aggregators, along with several leading media investment banks, to vet the merits of an acquisition strategy in our space. As we continue to improve user metrics on the faidr app, cost effectively acquiring users is key to significant revenue generation."

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