Funding the Venture for Growth

At this point the Zicam venture needed money, and a lot of it, to finance the growth stimulated by the USA Today article. Gum Tech provided some of the financing for growth, and some initial financing was provided by venture capital. The real solution to the funding problem, however, came in the fall of 2001, when Gum Tech sold all its gum-making assets to the Wm. Wrigley Jr. Company and then bought out the original entrepreneurs. At this point, Gel Tech became Zicam, LLC, a wholly owned subsidiary of Matrixx Initiatives, Inc. (formerly Gum Tech), and the companys entire focus was placed on making Zicam a success.