Former Australian cricket captain Michael Clarke is endorsing another company (but it’s not an ICO)
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Serial endorser and former Australian cricket captain Michael Clarke is repping another company, adding Family Zone (ASX:FZO) to his haul of celebrity endorsements.
The cyber security for families company already has one Michael Clarke on its books: their advisor professor Michael Clark is a former UK government security advisor.
Mr Clarke — the cricketer — has made a post-sports career of representing companies and causes.
To date, he’s repped entities from the Wagner vitamins brand to the Australian Pain Management Association, Respiri (ASX:RSH) and Sportshero (ASX:SHO) via his mate’s sporting goods company Spartan, which was put into liquidation last year.
Most controversially, Mr Clarke lent his reputation to an initial coin offering (ICO) by a cryptocurrency company called Global Tech last year, and received a savaging from his fans.
The corporate regulator shut the ICO down not long after, saying it didn’t comply with obligations around raising money.
Family Zone is paying Mr Clarke $100,000 a year in cash and stock for him to promote the company in Australia and India, and also to use his likeness. The contract is for 24 months.
Family Zone almost tripled its revenue in the last six months of calendar 2018 to $2.1m, compared to the previous corresponding period.
But the half year loss also worsened to $7.6m.
The company is trying to reach a cash flow breakeven by cutting costs, although it doesn’t say when this will happen, and is forecasting revenue of $9m.
Gooroo (ASX:GOO) shares are up 58 per cent after the company signed a deal with Microsoft to test and refine the US company’s career planner software. Gooroo uses artificial intelligence and neuroscience to better guide decision making.
And speaking of celebrity endorsements, the ASX’s eSports leader eSports Mogul (ASX:ESH) has kind of signed a deal with the Adelaide Crows — it’s signed a partnership with the club’s esports team Legacy Esports. Yes, the Crows have an esports team.