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Exciting day yesterday for all of us at Electric Guitar PLC as we completed on our acquisition of 3radical, on our £2.2m fundraising, and as our shares started trading on the AIM market of the London Stock Exchange as #ELEG.
Electric Guitar is one of only a very few successful small cap IPOs in the London market this year, given some of the worst stock market conditions anyone can remember, showing how exceptional an achievement this is. How have we done it? The answer is a combination of our mission, our timing, and our team.
Digital marketing is being hit by seismic disruption from the loss of third-party cookies for targeting online ads, due to privacy regulation picking up pace all over the world. In short, cookies are expected to be pretty much gone within a year. So Chief Marketing Officers are now scrambling to find the best technology to obtain their own consented first-party data about their potential customers and, with 3radical, we've got one of the most trusted and sophisticated enterprise solutions for this that's already being used by blue chip customers around the world.
And we're not stopping there. Electric Guitar was created to buy as well as build, and our now AIM-listed shares offer us a great currency for business owners unable to find the growth capital they need to develop their businesses as aggressively as they want, as well as an opportunity to ride with us as we grow the value of the Electric Guitar group.
We also have an exceptionally experienced management team with decades of experience in building data and tech businesses. And we're already applying a big chunk of our fundraising proceeds in boosting 3radical's sales and marketing, as well as in adding AI techniques to supercharge our offerings.
So watch this space!