NexTech AR Acquires Fast-Growing Profitable Amazon eCommerce Launch Platform
Software Platform Positioned to Profit from Exponential Growth in eCommerce and Augmented Reality
VANCOUVER, British Columbia, Sept. 09, 2020 (GLOBE NEWSWIRE) -- NexTech AR Solutions (NexTech) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), an emerging leader in augmented reality for eCommerce, AR learning applications, AR-enhanced video
conferencing and virtual events, is pleased to announce that it has acquired fast-growing eCommerce software platform Next Level Ninjas. Next Level Ninjas matches brands and product testers on it’s VIP
Product Testers site, helping brands gain business momentum. The platform works across multiple eCommerce platforms including Amazon, eBay, Shopify, Walmart, Jet and Etsy. It services nine
Amazon marketplaces: US, CA, JP, AU and five EU marketplaces: UK, DE, FR, IT, ES.
By acquiring this Amazon eCommerce launch platform NexTech is now able to tie together its augmented reality (AR) offerings for eCommerce into one offering, creating a complete AR eCommerce ecosystem. The Next Level Ninja platform appeals to millions of eCommerce brands looking to gain business momentum on Amazon, eBay, Shopify, Walmart, Jet and Etsy. The company plans on integrating into the platform both it’s WebAR and its 3D/AR ad network, creating an AR technology-driven one-stop-shop. This acquisition represents the company's sixth acquisition since 2019 and the company’s second in 2020.
Established in 2019, Next Level Ninjas has experienced both dramatic organic growth and an attractive gross profit margin of 85%. In the month of August alone the business generated $40,000 in operating profit, implying a projected 12-month profit run rate of $480,000, which assumes zero growth post acquisition. The acquisition is an all cash asset purchase agreement with a purchase price of $720,000. The company is working with its marketing team to drive significant growth in the coming year as more and more businesses move online and sell goods on Amazon, eBay, Shopify, Walmart, Jet and Etsy.
Evan Gappelberg, CEO of NexTech comments, “This acquisition adds even more revenue and earnings potential to our fast growing AR eCommerce business. The Next Level Ninja platform is the perfect fit for us, allowing us to cross-sell our AR for eCommerce, which is in one of the pandemic economy's sweet spots. We see a global growing demand for Ninja’s innovative and fully compliant matching platform that helps interested buyers find amazing new products to test, review, and share on social media. Now that our marketing team is behind Next Level Ninja millions of eCommerce sites will be introduced to the platform, setting the stage for the business to grow exponentially.”