Cricut Adds New Independent Board Member Heidi Zak

SOUTH JORDAN, Utah, Sept. 30, 2024 (GLOBE NEWSWIRE) — Cricut, Inc. (“Cricut”) (NASDAQ: CRCT), the creative technology company that has made its connected content creation platform available to millions of users around the world, today announced the expansion of the company’s management team.

“We are pleased to announce the addition of Heidi Zak as an independent board member and member of our audit committee. This increases the size of our board of directors from seven to eight members,” said Jason Makler, Cricut CEO. “Heidi’s skills and experiences complement the rest of Cricut’s board members and leadership team. Heidi has a proven track record of targeted marketing, scaling, and running a successful business with customers similar to Cricut’s core user base.

Ashish Arora, CEO of Cricut, added: “Heidi’s insight as co-founder and CEO of ThirdLove combined with her previous professional endeavors will be immediately valuable to Cricut. Her leadership includes the ability to develop new markets and a focus on the overall brand and customer experience. Her deep understanding of core customer segments and marketing activities aligned to those needs will help drive our overall acquisition and engagement strategy. I look forward to working closely with Heidi and am delighted that she is joining our board.”

Ms. Zak stated, “I look forward to adding my experience and knowledge to help Cricut return to growth and focus on its core target market. The Cricut Consumer Core is a perfect fit for my decades of experience in successful products, customer focus and go-to-market strategy.”

About Heidi Zak

Heidi Zak is an experienced executive with over 20 years of experience in the consumer and retail sectors, specializing in e-commerce and direct sales, marketing, strategy and new business development. With a proven track record of scaling and running successful ventures, Heidi currently serves as CEO of ThirdLove, a leading online intimate brand serving millennial women with a customer base of over 5 million. As co-founder and current CEO of ThirdLove, she has played a key role in shaping the company’s trajectory and establishing the brand as a disruptor, innovator and leader in its industry. Before founding ThirdLove, Heidi worked at Google, Aeropostale, McKinsey, and Bank of America. He holds an MBA from MIT Sloan School of Management and a BA in Economics from Duke. She is a member of the Young Presidents Organization (YPO) and a 2024 Henry Crown Fellow.

About Cricut Management

Additional information, including detailed board member biographies, can be found at https://cricut.com/en/board-members.

About Cricut, Inc.

Cricut, Inc. is a creative technology company that helps people lead creative lives. Cricut hardware and design software work together as a connected platform for consumers to create beautiful, high-quality DIY projects quickly and easily. These industry-leading products include the company’s flagship line of smart cutting machines, the Cricut Maker^® Cricut Explore Series^® Cricut Joy series^™ series and Cricut Venture^™ — along with other unique tools like the Cricut EasyPress^®Unfusible Ink^™ system and a diverse collection of materials. In addition to providing tools and supplies, Cricut supports a thriving community of millions of dedicated users around the world.

Cricut has used and intends to continue to use its Investor Relations website and Cricut News Blog (https://cricut.com/blog/news/) to disclose material, non-public information and to comply with its disclosure obligations under FD regulation. Therefore, in addition to monitoring our press releases, SEC filings, and public conference calls and webcasts, you should monitor our investor relations website and Cricut News Blog.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Art. 27A of the Securities Act of 1933, as amended (the “Act”) and Art. 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These statements include, but are not limited to, quotes from management and directors, business prospects, strategies and growth opportunities. Forward-looking statements can generally be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as “anticipates”, “believes”, “targets”, “potential”, “estimates”, “expects”, “intends”, “plans”, “projects”, “may”, “will” or similar terminology. In particular, statements, express or implied, regarding future activities, conditions or events, future results of operations or the ability to generate revenues, income or cash flows are forward-looking statements. These statements are based on and reflect our current expectations, estimates, assumptions and/or projections and our perception of historical trends and current conditions and other factors that we believe are appropriate and reasonable under the circumstances. Forward-looking statements are not predictions or guarantees of future events, circumstances or results and are inherently subject to known and unknown risks, uncertainties and assumptions, many of which are beyond our control and which could cause our actual results to differ materially from those indicated by these statements. There can be no assurance that our expectations, estimates, assumptions and/or projections will prove to be correct or that any of our expectations, estimates or projections will be realized. The forward-looking statements contained in this press release are made only as of the dates indicated in the relevant materials and are based on our estimates and opinions at the time these statements are made. We disclaim any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances or changes in opinion, except as required by law.

Numerous factors could cause our actual results and events to differ materially from those expressed or implied by forward-looking statements, including, without limitation, risks and uncertainties related to: our ability to attract and engage with our users; competitive risk; supply chain, manufacturing, distribution and order fulfillment risks; international risks, including regulations and tariffs that have significantly increased our costs and the potential for further trade barriers or disruptions; sales and marketing risks, including our dependence on sales to brick-and-mortar and online retail partners and our need to continue to increase online sales; risks related to the complexity of our business, which includes connected machines, custom tools, hundreds of materials, design applications, e-commerce software, subscriptions, content, international manufacturing, direct sales and retail distribution; risks related to product quality, safety, warranty claims and returns; risks related to fluctuations in our quarterly operating results and other operating metrics; risks related to intellectual property, cybersecurity and potential data breaches; risks related to our dependence on our chief executive officer; risks related to our status as a “controlled company”; and the impact of economic and geopolitical events, natural disasters and actual or threatened public health emergencies, ongoing recessionary pressures and any resulting economic downturn such events or other resulting interruptions in our operations. These risks and uncertainties are described in greater detail or incorporated by reference under the heading “Risk Factors” in the most recent Form 10-Q we filed with the Securities and Exchange Commission (the “SEC”).

Investor contact:
Jim Suva
[email protected]

Source: Cricut, Inc.