leadf
logo-loader
viewEtsy

NexTech AR acquires eCommerce software platform Next Level Ninjas

The platform works across multiple eCommerce platforms including Amazon, eBay, Shopify, Walmart, Jet, and Etsy

eCommerce
The acquisition is an all-cash asset purchase agreement at a price of $720,000

NexTech AR Solutions Corp (OTCQB:NEXCF) (CSE:NTAR) (FRA:N29) announced Wednesday it has acquired fast-growing eCommerce software platform Next Level Ninjas. 

Next Level Ninjas matches brands and product testers on its 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 in the US, Canada, Japan, and Australia, as well as five European markets in the UK, Germany, France, Italy, and Spain.

READ: NexTech AR's Inferno AR picked by Georgia technology association for November virtual event

By acquiring the Amazon eCommerce launch platform, NexTech said it 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 and NexTech said it plans on integrating into the platform both its WebAR and its 3D/AR ad network, creating an AR technology-driven one-stop-shop. 

The acquisition is an all-cash asset purchase agreement with a price tag of $720,000, and represents the company's sixth acquisition since 2019 and the company’s second in 2020.

Gross profit margin of 85%

Established in 2019, Next Level Ninjas has experienced both dramatic organic growth and an attractive gross profit margin of 85%, NexTech said. 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 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,” NexTech CEO Evan Gappelberg said in a statement.

“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.”

Gappelberg also said Next Level Ninja for eCommerce could quickly become a multi-million dollar business.

“It’s a very exciting time for us as we continue to look for accretive strategic acquisitions and keep hiring more talent to keep up with the ever-growing demand of NexTech’s product offerings,” he said. “We are uniquely diversified and positioned in the fastest growing business segments of the global economy including AR, eCommerce, video conferencing, virtual events, and 3D/AR advertising.”

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

Quick facts: Etsy

Price: 139.64 USD

NASDAQ:ETSY
Market: NASDAQ
Market Cap: $17.35 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Mirasol Resources Interim CEO has a vision for the company as he looks to...

Mirasol Resources (CVE: MRZ-OTCPK: MRZLF) CEO Patrick Evans joined Steve Darling from Proactive to provide his thought on the company as their new CEO. He provides views with a background on himself and why he took on the role. Evans also told Proactive about where their strong stable of...

15 minutes ago

3 min read