Small-Cap Corner: IZEA Gets a Lift on Board Announcement (IZEA)

Shares of IZEA IZEA, a mico-cap provider of social media sponsorships, are soaring by more than 9% today on news that venture capitalist Ed Sim, founder of BOLDstart Ventures, has joined the Florida-based company's board. Sim, 41, has over 16 years of venture capital experience having led seed and first round investments in a number of high profile Internet and software companies, according to a statement issued by IZEA. The addition of Sim to the IZEA board appears to be a coup for the tiny company. Sim formerly held director positions at Answers ANSW, Greenplum, GoToMyPC/GoToMeeting, Moreover Technologies, LivePerson LPSN, Gizmo5 and Flashbase. Greenplum was acquired by EMC and GoToMyPC/GoToMeeting was later bought by Citriz Systems CTXS. Moreover Technologies was bought by VeriSign VRSN. Gizmo5 was acquired by Google GOOG. DoubleClick DCLK acquired Flashbase. Sim, a Harvard alumni, will serve on IZEA's compensation and nominating committees. IZEA's specialty is helping organizations monetize their social media presences. The company has completed over three million social media sponsorships for customers ranging from small local businesses to Fortune 50 organizations, according to the statement. Recent data pertaining to corporate use of social media sponsorships bode well for IZEA. The company's third annual State of SMS Report, released earlier this month, indicated 93 percent of responding influencers reported that they "do or would" monetize their social media efforts and 62 percent reported receiving compensation for a post or series of posts, up from 57 percent just two years ago. IZEA's Web site indicates the company has done social media campaigns for Kia, LG Electronics and Microsoft MSFT, among others.