5th Element Group, PBC Announces Strategic Acquisition of Digital Marketer GoodXChange Corp.
New SDG-Aligned Frontier Tech Brand to Include Best-of-Class Social Impact Marketing
Press Release – New York, NY — June 16, 2018. 5th Element Group, PBC, a public benefit company that has launched the first worldwide “Innovation Supercluster” focused on the intersection of frontier tech and the achievement of the UN Sustainable Development Goals, has entered into an agreement to acquire GoodXChange Corporation (“GoodX”), an innovative marketing company dedicated to amplifying brands that are working to meet the SDGs.
GoodX, headquartered in Raleigh, North Carolina, creates, promotes and manages “Good ExchangesⓇ” between corporate brands and consumers. The company’s stated goal is “to redirect a portion of the $2 trillion spent on corporate global marketing to causes aligned with the UN SDGs.” Specifically, these digital good exchanges enable consumers to engage with global brands to unlock donations to causes that matter to both parties.
GoodX has been engaged by some of the world’s flagship corporate brands, like Mars, Fisher-Price, Mohawk and Unilever, as well as some of the world’s leading non-profit brands, like Nobel Peace Prize Forum and Habitat for Humanity. Most notably, perhaps, GoodX was engaged by Walgreens to reach more than 25 million people in its 2017 Red Nose Day campaign featuring musician Ed Sheeran. In each of these cases, GoodX enabled consumers to take an action for a brand, knowing it would unlock a donation to a cause they cared about. They also track brand Key Performance Indicators (“KPIs”) through their proprietary “Brand Warmth ScoreⓇ.”
“GoodX brings to 5th Element a significant business innovation model, a proven purpose-driven leadership team, and a tremendous global ecosystem of relationships that are perfectly aligned with our OmniWin business model strategy,” said Amber Nystrom, Co-Founder of 5th Element Group. “This acquisition allows for immediate amplification and acceleration across all 5th Element initiatives in our focus to leveraging frontier technologies, with the support of leading global brands, to drive exponential progress toward the UN Sustainable Development Goals.”
The alliance between 5th Element and GoodX is rooted in a shared hope in the power of frontier technology activations through a unique “Innovation Supercluster” model as a critical pathway to a better world in which the disenfranchised can be enfranchised at a significant scale.
5th Element engaged GoodX to help facilitate the launch of its Decade Of Women initiative (www.decadeofwomen.org) on March 9 of this year, highlighting the belief of 5th Element principals that a focus on gender equity combined with new applications of frontier technology can create a game-change moment for humanity. The working partnership has continued and deepened since culminating in today’s announcement.
“The vision of 5th Element is years in the making and has drawn together some of the smartest, most experienced and most compassionate people I’ve ever known, all work tirelessly for this shared mission,” said Ed Martin, GoodX Co-founder and CEO. “The focus and capacity of this team inspires us, and we are beyond excited to join forces to leverage all the global relationships and resources we steward to make the greatest positive impact for the most people.”
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