Small Startup Quietly Becomes Largest Beacon Purchaser in the Western Hemisphere
SAN JUAN, PUERTO RICO - June 15, 2016 - Migo IQ, a start-up based in San Juan, Puerto Rico, has recently purchased 65,000 beacons, making them the largest beacon purchaser in the Western Hemisphere.
Migo IQ's founder, Jonathan Kotthoff, sourced the beacons from a manufacturer in China and funded the purchases with a portion of the first round of Series A funding, received in 2015. A portion of the purchased beacons have already been installed in client locations.
Remaining beacons are warehoused in St. Louis, MO, or awaiting direct shipment orders from their holding location in China. The introduction of migo IQ’s consumer-centric beacon technology marks a revolutionary advancement for physical businesses that are simply unable to interact face-to-face with each and every customer that walks through their door.
The migo platform is the first of its kind, powered by machine learning, which overcomes operational and staffing challenges so that brick-and-mortar businesses can provide the same type of dynamic, personalized shopping experience customers typically get online.
In late 2015, in order to meet client demand, migo IQ purchased 65,000 beacons from a manufacturer in China, a move that made the company the largest purchaser of beacons in the Western Hemisphere, and one of the largest in the world.
Migo IQ uses a dense overlay of beacons – more beacons per square foot than any other beacon company – coupled with an intelligent, machine-learning software. It's the first truly automated, responsive mobile tool for brick-and-mortar retailers, a real-world recommendation engine they can implement during their day-to-day operations, to increase revenue and offer customers the personalized in-store shopping experience they are looking for.
Amazon and other eCommerce businesses generate approximately 30% of their revenue from personalization tools and up-sells, and thanks to migo IQ’s unique, customer-specific recommendation engine, brick-and-mortar businesses and entertainment venues can also enjoy a higher growth in sales.
The demand for interactive, in-store technology that works well in the real world is what inspired the team at migo IQ to develop a responsive, machine learning platform for real-world use.
With this new purchase of 65,000 beacons, migo IQ’s beacon technology and machinelearning software is now available to interested retailers who want access to a personalized, responsive machine-learning platform that translates to increased revenue in the real world.
About migo IQ
Migo IQ brings the first truly intelligent personalization platform to brick-and-mortar retail. Our machine learning software works with in-store hardware so that real-world retailers can provide responsive personalization in their entire store and on unlimited physical inventory. without additional staffing or management needed.
The future of shopping is personal.