September 10, 2020 – NexTech AR Solutions (NexTech), a provider of augmented reality (AR) for e-commerce, AR learning applications, AR-enhanced video conferencing and virtual events, has announced that it has acquired e-commerce 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 e-commerce 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.
Established in 2019, Next Level Ninjas has experienced both organic growth and a gross profit margin of 85%, according to NexTech. In the month of August alone the business generated $40,000 in operating profit. The acquisition was an all cash asset purchase agreement with a purchase price of $720,000.
By acquiring Next Level Ninjas, which NexTech sees as an Amazon e-commerce launch platform, the company stated that it will now be able to tie together its AR offerings for e-commerce into one offering, creating a “complete AR e-commerce ecosystem.” NexTech plans on integrating its own WebAR and 3D/AR ad network into the Next Level Ninjas platform as well, creating an AR technology-driven one-stop-shop.
Evan Gappelberg, CEO of NexTech commented: “This acquisition adds even more revenue and earnings potential to our fast growing AR e-commerce business. The Next Level Ninjas platform is the perfect fit for us, allowing us to cross-sell our AR for e-commerce, 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 Ninjas millions of e-commerce sites will be introduced to the platform, setting the stage for the business to grow exponentially.”
Gappelberg continued: “I believe that Next Level Ninjas for e-commerce can quickly be a multi-million dollar business and be as big a driver of revenue and cash flow as our Jolkia acquisition.” He added, “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. We are uniquely diversified and positioned in the fastest growing business segments of the global economy including AR, e-commerce, video conferencing, virtual events, and 3D/AR advertising.”
Yesterday’s announcement from NexTech marks the company’s sixth acquisition since 2019 and the company’s second in 2020. For more information on NexTech’s AR solutions, please visit the company’s website.
Image credit: NexTech AR Solutions / Next Level Ninjas
Related Posts
About the author
Sam is the Founder and Managing Editor of Auganix. With a background in research and report writing, he has been covering XR industry news for the past seven years.