Andrew Beach (San Diego, CA) and Joe Pellegrino, Jr. (Naples, FL), entrepreneurial partners with a portfolio of companies headquartered out of Southwest Florida, are proud to announce their latest acquisition of Divine Digital as of May 1, 2022
NAPLES, FL, May 04, 2022 /24-7PressRelease/ — Divine Digital is a boutique app development agency located in Bonita Springs, FL. The agency has grown into an industry leader, bringing life to the ideas behind hundreds of top-rated apps including TourZazz, Scratch Golf Academy and Legacy Minded Men. The company covers the entire spectrum of development but specializes in mobile apps for iOS, Android and Web. Their unique 3-Step Process was designed specifically to accommodate small and large clientele and lead them from strategy to prototyping and finally to full scale commercial development and ongoing tech management.
Previous Owner and Chief Executive Officer, Jared Stresen-Reuter, will remain in his leadership role post-sale to continue to support the growth of the company through new resources available from Beach and Pellegrino. Jared’s local philanthropic involvement with initiatives like Miracle Limbs, Tim Tebow’s Night to Shine, and South Fort Myers High School Entrepreneurs have gained Divine Digital a level of notoriety in the Southwest Florida area. Beach and Pellegrino are proud to have Stresen-Reuter’s continued involvement with the company at the head leadership level of CEO.
About the Acquisition:
The parties signed a confidential purchase agreement on May 1st, 2022, but would not disclose the exact agreed upon price. While the current high industry valuations for app development companies are steep (5-10X Annual Net Profits), they may continue to increase even further as more corporations and small businesses are looking to apps to attract and manage local and national customer interaction. The buying party sees this acquisition as a long term play, with huge upside potential on the current scope of development (apps, websites, and software), as well as the potential to enter trending spaces like NFT’s, Blockchain, and the Metaverse.
Beach and Pellegrino merged entrepreneurial efforts in late 2019, creating J. Michael Strategies (formerly J. Michael Consulting) which has grown overnight into a leading digital marketing strategy firm by disrupting the market with its unique and “out of the box” direct-to-consumer marketing techniques and formulas. Beach and Pellegrino have also built and scaled several seven-figure brands from J. Michael Strategies’ umbrella into their own independent operating entities. Their core “formula” of success has been a catalyst for raising millions of dollars from private investment funds in order to pursue future strategic acquisition opportunities (similar to Divine Digital), and to build new online brands similar to their current portfolio.
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