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Veritone, Inc. Confirms Receipt of Unsolicited Proposal from Apis Capital Management


-- Stockholders Advised to Take No Action At This Time --

-- Veritone Raises Questions Regarding Apis Capital's Ability to
Consummate Proposed Transaction --

Veritone, Inc. (NASDAQ:VERI) ("Veritone" or the "Company") confirmed
today that it has received an unsolicited, non-binding proposal from
Apis Capital Management, on behalf of its private equity fund, Apis
Ventures LLC (collectively, "Apis") to acquire all outstanding shares of
Veritone common stock for $10.26 per share in cash.

On December 4, 2018, Veritone's Board of Directors received a private
letter from Apis making a non-binding proposal to acquire the Company
for $8.00 per share in cash, subject to completion of due diligence and
other conditions. On December 6, 2018, the Company acknowledged receipt
of the letter and indicated that its Board of Directors would be meeting
to discuss the proposal, and would respond following that meeting. As
part of its letter, the Company requested additional information from
Apis regarding its financing for its proposal and its experience in
executing transactions of this magnitude and scope. Apis' response
indicated that they do not have committed financing, and do not have any
experience or track record in transactions of this nature.

Consistent with its fiduciary duties, Veritone's Board, with the
assistance of its independent financial and legal advisors, is
evaluating today's proposal. The Board will provide an update promptly
following the completion of its review.

There are no assurances that a transaction will be reached or on what
terms. Veritone stockholders are advised to take no action at this time.

GCA Advisors, LLC is serving as financial advisor to Veritone, and
Gibson, Dunn & Crutcher LLP is acting as Veritone's legal counsel.

About Veritone, Inc.

Veritone (NASDAQ:VERI) is a leading provider of artificial intelligence
(AI) technology and solutions. The company's proprietary operating
system, aiWARE™, orchestrates an expanding ecosystem of machine learning
models to transform audio, video and other data sources into actionable
intelligence. aiWARE can be deployed in public or private cloud
environments, or on the customer's premises. Its open architecture
enables customers in the media and entertainment, legal and compliance,
and government sectors to easily deploy applications that leverage the
power of AI to dramatically improve operational efficiency and
effectiveness. Veritone is headquartered in Costa Mesa, California with
over 300 employees, and has offices in Denver, London, New York, San
Diego, and Seattle. To learn more, visit

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