Edison Nation Inc Background
Detroit- December 6, 2018 (PENNYSTOCKS.NEWS) Edison Nation, Inc. (NASDAQ: $EDNT). The company obtained a name and ticker symbol change recently. The change happened on September 13th,2018. Before the company was formerly known as Xspand Products Lab, Inc. with a ticker symbol (Nasdaq: $XSPL). It is important to understand that the new name is Edison Nation, Inc. The company through its subsidiaries, primarily designs, manufactures and sells various toy products directly to retailers. Another approach is direct to consumers via e-commerce in North America, Asia, and Europe. It operates through two segments, SRM and Fergco. Edison produces battery-operated products for theme parks and entertainment venues; and party-related such as arts and crafts-related items for retailers. It designs, manufactures, and sells packaging and packaging materials for industrial and pharmaceutical companies in North America. Edison got incorporated in 2017, and it is located in Phillipsburg, Pennsylvania.
Product Development – Edison in-house team is concentrated in product design, engineering, 3D printing, retail packaging, design, and with multi-language requirements. The cost analysis, safety testing, quality assurance testing, compliance. Branding, licensing, patents and trademarks are also some of the team’s specialty. Meaning that an inventor that has little-to-no experience, could bring their idea to the Edison on a product, and the team can turn that product design into a real product mock-up.
Production – Once a product has made it through the development process, then it goes to the production process. Edison has manufacturing facilities in both the United States and China. Also, two dedicated factories that only produce the company’s products. Edison is capable of manufacturing more than 20 million units per year. The company has been in the manufacturing business for more than 50 years, producing products for clients that range from garage inventors to fortune five hundred companies and has been bringing these products directly to the consumer.
Fulfillment & Logistics – As of right now, Edison owns over 325,000 square feet of warehouse space. These warehouses combined with a full-time logistics team allows the company offers a comprehensive scale of logistics services, that includes:
Warehouse & Distribution
Corporate discount rates
Sales & Marketing – Furthermore, Edison has helped their clients with the sales and marketing process on a global scale. The company also can use real-time data to strategically market products online, including the sale of products on 3rd-party eCommerce websites like Amazon and E-bay.
Edison Recent Goals
Edison Nation has seen many companies rise in their industry. This is due to the modern technology that has made this industry flaming hot. Some examples are platforms like Kickstarter which have raised more than $3.6 billion their users since 2009. Which has led to a significant competitive advantage to many startups that are disrupting their sectors? Edison Nation has responded with their proprietary platform which connects innovators with companies to bring new products to market. The link between innovator and company is a significant advantage along with their full-service product development that offers much different innovation sourcing such as design, sales, fulfillment and shipping services. To bring these services to their clients, Edison has been working with other well-known companies such as Bed Bath & Beyond, P&G, Amazon, Rite Aid, HSN and many more. Edison has had many successful products such as:
o Mister Steamy®,
o Emery Cat®,
o Gyro Bowl®,
o Hot Huez®,
o Perfect Bacon Bowl and Party in the Tub.
Edison has been around for a long time, but it became a publicly listed company earlier this year in 2018. Since becoming a publicly traded company, they have announced some potentially incredible developments. What are these developments that require your attention?
Edison’s Nations Incredible Developments
Edison has recently announced their Recent Operational Highlights which included many
significant accomplishments and achievements for the company. Some of these achievements are their announcement that they acquired their strategic partner Edison Nation LLC which resulted in Changed the Company’s corporate name to Edison Nation, Inc. In conjunction with the name change, the Company’s ticker symbol changed from “XSPL” to “EDNT” on the Nasdaq. They also acquired Cloud B, Inc. which is a leader in the manufacturing of products that assist with parents and children sleep better. Their products are distributed across 100 different countries across the world. Because Cloud B is a private company, their estimated revenue in 2017 was around $8 million.
Furthermore, Edison Nation Launched the Company’s first micro-brand crowdfunding campaign on Kickstarter, the MasterSous: The 8-in-1 Smart Cooker. To-date, the Kickstarter campaign has exceeded the initial pledged goal by more than 300%. Then the company Launched a new Crowdfunding tool by which the Company will cover development and crowdfunding campaign-related costs for excellent, high-potential ideas, allowing products to reach the market at lightening-speed to maximize sales and reduce total R&D costs. In conclusion on November 15th, the CEO of Edison Nation Chris Ferguson said, “The momentum we established in the first half of the year has continued, highlighted by our revenue growth of 56% to a record $4.9 million in the third quarter of 2018.” These things have been incredible developments for Edison Nation, and the company is working at the continuation of growth not only for themselves but for their shareholders.
Edison Nation Currently
Edison Nation announced today their global distribution agreement for everyday Edison TV series. They entered into an agreement with the leading digital media service company Everyday Edisons. This company is an inspirational reality TV series producer which is under license by Edison Nation. This agreement will cover two existing 13 episode seasons. Furthermore, the company will make voiceover in German, French, and Spanish. In addition, they are working on making available to Europe and the middle east by teaming up with some providers such as Amazon Prime Video. The CEO said, “I am pleased to announce that we entered into a distribution agreement to significantly expand the reach of our Everyday Edison TV series.” -Chris Ferguson Edison is pursuing new approaches to be able to stand out in their industry as leaders.
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