Mohawk Group Holdings (NASDAQ: MWK) has launched a rebrand that includes a new corporate name: Aterian Inc. (NASDAQ: ATER). Effective at 12:01 a.m. ET today, the new brand identity reflects the company’s strategic mission, operational expertise and market edge. The company, now named Aterian, is a market-leading, technology-enabled, consumer-products platform that builds, acquires and partners with best-in-class e-commerce brands. Central to Aterian’s focus is its exclusive software and highly agile supply chain, which creates top-selling products for a growing base of data-empowered e-commerce consumers. The announcement noted that the newly renamed company operates in a rapidly expanding market. eMarketer projections for worldwide e-commerce sales indicate that the sector will grow from $4.3 trillion in 2020 to $6.4 trillion by 2024. The company also plans to add new products and categories to its portfolio acquisition activity. “This is an exciting and special moment for our company,” said Aterian co-founder and CEO Yaniv Sarig in the press release. “Our new name, Aterian, draws inspiration from an important stage of early human progress. Dating to the Paleolithic era, the Aterian industry marked a leap forward in the design of innovative tools that led to greater efficiencies. Similarly, the consumer products industry is entering a pivotal moment as technology becomes a critical tool for brands in their efforts to predict and respond to online consumer demand at scale. Over the past seven years, we have grown from an early mover in the e-commerce marketplace segment to a leading technology-powered consumer products platform, with thousands of SKUs across 12 owned and operated brands. As we look to the future and the rapidly expanding market opportunities on the horizon, we continue to be well-positioned to build the world’s most efficient consumer products company.”
To view the full press releases, visit https://ibn.fm/i5XZg
About Aterian Inc.
Aterian is a leading technology-enabled, consumer-products platform that builds, acquires and partners with best-in-class, e-commerce brands by harnessing proprietary software and an agile supply chain to create top-selling consumer products. The company’s cloud-based platform, Artificial Intelligence Marketplace Ecommerce Engine (“AIMEE”(TM)), leverages machine learning, natural language processing and data analytics to streamline the management of products at scale across the world’s largest online marketplaces including Amazon, Shopify and Walmart. Aterian has thousands of SKUs across 12 owned and operated brands and sells products in multiple categories, including home and kitchen appliances, health and wellness, beauty and consumer electronics. For more information about the company, visit www.Aterian.io.
NOTE TO INVESTORS: The latest news and updates relating to MWK are available in the company’s newsroom at https://ibn.fm/MWK
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