Maven Names John Fichthorn Chairman as Company Continues Reaching Financial Targets

SEATTLE–(BUSINESS WIRE)–Maven (MVEN)
board member and investor John Fichthorn has been elected Chairman of
the Board of Directors of Maven Inc., and will lead the Board’s finance
and audit committee.

Fichthorn currently serves as Head of B. Riley Alternatives (“B.
Riley”), a division of B. Riley Capital Management, LLC. In July 2018,
Fichthorn and B. Riley partnered with Maven to help secure the
investment that funded Maven’s previously announced acquisition of
HubPages and initial debt payments as part of Maven’s acquisition of Say
Media.

“John is a highly regarded financial veteran whose expertise will become
especially valuable as we focus our post-merger initiatives on financial
integration, compliance, structure and streamlining,” said Maven CEO
James Heckman. “We believe John’s deep knowledge of the financial
markets as well as his strict discipline with regard to forecasting and
reporting will help elevate Maven’s equity.”

Maven President and board member, Josh Jacobs, noted that “B. Riley’s
disciplined approach combined with our exciting growth creates a
powerful combination.”

“My initial meetings with Maven last spring led me to believe the
company has an opportunity to fill an obvious gap in the market for
independent, professional publishers,” said Fichthorn. “This
distinguished management team is exceeding expectations and delivering
as promised. Once the restructuring and financial systems are complete,
Maven could be one of those rare micro-caps positioned to reach the next
level.”

As targeted last April, Maven successfully combined operations with
HubPages and Say Media and is on-track to hit $30 million annualized
revenue and adjusted EBITDAS positive by year-end 2018, with a combined
100 million monthly users on a pro-forma, post-closing basis, assuming
the completion of Say Media acquisition closes as scheduled.

Prior to joining B. Riley in April 2017, Fichthorn served as a portfolio
manager since 2003 with significant experience in accounting and
financial matters, representing the interests of major
stockholders for public company boards. He previously served as a
Director of California Micro Devices until its sale, and as a Director
at Immersion Corporation from 2011 to 2013. Prior, Fichthorn was
Managing Director of the technology group at Maverick Capital and an
Analyst at Alliance Capital and Quilcap Corporation. Additionally,
Fichthorn serves as Director of Health Insurance Innovations, Inc. since
December 2017.

About Maven: Maven is a
coalition of Mavens
operating on a shared digital publishing,
advertising and distribution platform, unified under a single media
brand. Based in Seattle, Maven is publicly traded under the ticker
symbol MVEN.

Board Members: Josh Jacobs; John A Fichthorn; Peter B Mills; James C
Heckman; Todd D Sims*; Rinku Sen; David Bailey

About B. Riley Alternatives:

B. Riley Alternatives creates strategic partnerships with talented
investment managers seeking to launch or grow their business. The B.
Riley Alternatives platform allocates capital through separately managed
accounts and offers a turnkey support solution with access to
comprehensive services, sophisticated technology and leading service
providers.

B. Riley Alternatives is a division of B. Riley Capital Management, LLC,
a Registered Investment Adviser. Built on a shared legacy of small-cap
research and active investing, B. Riley Capital Management and its
affiliated broker-dealer, B. Riley FBR, offer a unique breadth of
services and a broad range of expertise in trading, research, corporate
finance, lending, restructuring and asset management. Both companies are
wholly-owned subsidiaries of B. Riley Financial, Inc. (NASDAQ: RILY), a
diversified financial services company which operates through several
wholly-owned subsidiaries. To learn more about B. Riley Financial, visit www.brileyfin.com.

*Todd Sims is also a board member of B. Riley Financial, Inc.

Maven (noun | ma·ven | ˈmā-vən): A professional, authentic authority,
evangelist and recognized community leader for a specific topic, cause
or organization.

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