Dear Nozzle Customers,We are very excited to announce the asset sale of MediaGamma to Beeswax. Just over 2 years ago we decided to pivot the business towards eCommerce and launched Nozzle, an advanced machine learning platform that helps brands and agencies optimise their sales and advertising performance on Amazon.
The asset sale which includes the transfer of 3 of our employees is in effect the conclusion of that pivot and the conclusion of negotiations that started in Q4 2019. We can now focus exclusively on Nozzle in a sector that is growing at a phenomenal pace. All the technology, people and IP required to execute our plans are being retained by Nozzle and the funds from the asset sale will be used to accelerate the development and adoption of our platform. We are delighted to have found a great home for the people and technology that form part of this sale to Beeswax.
What this means for Nozzle customers
Nozzle will remain an independent company and the funds from the asset sale will be used to accelerate the development and adoption of our platform providing our customers with the most sophisticated tools and technology required to maximise sales and ROI on Amazon.