On 6th January 2023 Good Growth completed the acquisition of Amigo Technology, thus kicking off a year the like of which we have never seen before.
Why was this acquisition done? Our goal at Good Growth is to change the way that innovation – which we can define simply as trying something whose outcome is not guaranteed – is done online. We believe that the existing options available to business leaders are at best limited and are most often fatally flawed: a combination of overspend, underestimates, over-reliance on planning, and paucity of resources lead to underwhelming results (if results are yielded at all). Now more than ever, businesses need a new way of making progress. We believe we have this new way.
Some of the Good Growth Team at one of our 2023 Socials.
Good Growth has a rich heritage and proven track record in data and analysis, but was missing a technical philosophy and capability to deliver maximum value from the insights we generated. This is where Amigo – now known as Good Growth Technology (“GGT”) – came in. With GGT’s proven track record of delivering complex innovations at both speed and global scale, the hope was that the acquisition would enable us to cover the full space of enterprise innovation: hypothesis → experiment → analysis.
Has this acquisition been a success? In a word: yes.
The NPS scores we have collected from clients who have been benefiting from our enhanced proposition agree. I’m proud to say that for such clients we have an average NPS of 9.5. Those of you that have been through an M&A process will know that success is far from guaranteed, even if all the data suggests it. Another measure of success is the number of firsts we have seen this year: securing our first major client in the US, enabling our clients to benefit from generative AI with a dramatically reduced cost/risk profile, and the creation of insight dashboards that would have been impossible for either business prior to the acquisition. It has been fantastic to see that, as was our hope, 2+2 does indeed equal 5 (i.e. the newly created business is more than the sum of its historic individual parts).
Speaking at Birmingham Tech Week 2023 – a fantastic event that we had the pleasure of sponsoring. (Image: Peter Medlioctt)
Ultimately, we exist to make you, the ambitious leaders and innovators of the online world, successful. We want, and need, to keep learning and continue to welcome all of your thoughts and challenges on how we can improve.
I would like to thank you for your support, as well as acknowledge the ongoing support of our shareholders and of course our fantastic people, without whom none of what we have achieved this year would have been possible. I would also like to place on record my thanks to those that enabled the acquisition to go through, both pre- and post-transaction, so smoothly.
This year, we have demonstrated that our data-driven tech-enabled approach to online innovation – one in which we enable our clients to test the future – works. In 2024, we look forward to driving further value and outcomes for yet more people, and as such we will be ramping up our distribution strategy. I look forward to sharing more on this in Q1 2024.
Happy Christmas and New Year from all at Good Growth, and we wish you all the very best for 2024.
Jake Clarkson, Managing Director & Chief Technology Officer, Good Growth
About Good Growth:
Good Growth is a data and technology company trusted by global brands to grow profitability and market share in digital channels. With a focus on data, insight, and technology, Good Growth helps brands build a competitive advantage and accelerate opportunities for profitable growth.
Media Contact:
For more information or interview requests, please contact George Hall, Growth and Engagement Manager at Good Growth.
