- Wishpond has completed the integration of Brax, a business which it acquired in September 2021. Brax is well positioned for future growth with an expanded sales team and having adopted Wishpond's outbound sales best practices.
- Brax also recently launched its Universal Ads Editor, providing customers with a faster way to create, launch and monitor campaign performance across multiple platforms – all from one product.
- Wishpond also announces the grant of stock options pursuant to the Company's Stock Option Plan.
VANCOUVER, BC, Jan. 20, 2022 /PRNewswire/ - Wishpond Technologies Ltd. (TSXV: WISH) (OTCQX: WPNDF) ("Wishpond" or the "Company"), a provider of marketing-focused online business solutions, is pleased to announce that its Brax business has been successfully integrated with Wishpond and is on track to grow organically using the Company's proven outbound sales model. In addition, Brax is pleased to announce the release of its Universal Ads Editor, which allows advertisers to build ads once and instantly launch them across several different native ad platforms.
Ali Tajskandar, Chairman and CEO of Wishpond commented, "I am extremely pleased to see the progress since the acquisition of Brax in September of last year. We've now integrated Brax across all of Wishpond's departments and channels, positioning Brax for aggressive expansion in 2022. Brax has also developed a new outbound sales channel significantly increasing the velocity at which it can grow. We are excited to see the early traction from Brax's outbound sales system is starting to pay off."
Brax has effectively adopted Wishpond's outbound sales practices including Wishpond's lead prospecting, sales development, and sales pipeline management processes. Brax previously relied on inbound sales and marketing for new customer acquisitions and management believes this new outbound channel significantly increases the velocity at which Brax is expected to be able to onboard new customers.
Wishpond has also begun to realize synergies with Brax through cross-selling and the addition of new sales packages available to both Wishpond and Brax customers. Brax opens new sales opportunities to Wishpond's current customer base by enabling cross-selling on native advertising platforms. This trend is expected to play a pivotal role for both companies to increase their lifetime value of customers.
Further, Brax has successfully integrated its product and customer support teams with Wishpond allowing for increased efficiency. Brax has also integrated shared services with Wishpond, through the account management and sales teams. In addition, Brax has begun investing in marketing and has implemented inbound marketing strategies such as blogging and email marketing, and has recently launched a new affiliate program designed to leverage Brax's existing customer base to drive new revenue.
Universal Ad Editor
Brax's newly launched Universal Ads Editor allows advertisers to create ads once and launch them across multiple platforms – in just a few clicks. The new product feature supports ads across five native ad platforms including Taboola, Outbrain, RevContent, Content.ad, and Yahoo. Being able to build ads once and instantly launch them across multiple native ad platforms drastically speeds up the ad creation process for advertisers and positions Brax's platform as a player in the ad creation space.
The product also includes a Pexels integration, where users can instantly add thousands of stock images directly from inside the platform. Brax notifies users when ad text and descriptions are compliant with each platform's specifications and allows the creation of up to 100 ad variations at once which can be published across multiple ad networks in a few clicks.
Kevin Ho, General Manager of Brax commented, "While Brax has previously been known for its advanced automation system, the introduction of the Universal Ads Editor puts Wishpond and Brax into the campaign creation space and massively increases the value we can add to customers. The Universal Ads product provides customers with a substantially faster way to create, launch and test campaigns all from a single dashboard. With this all-in-one solution, users can drive better results from each campaign and scale to profitability faster."
Stock Option Grant
Wishpond also advises that the Company's Board of Directors has authorized the grant of incentive stock options to purchase up to 200,000 common shares in the capital of the Company (the "Options") pursuant to the Company's Stock Option Plan at a price of $1.26 per common share to an officer of the Company. The Options are exercisable for a 10-year term from January 19, 2022 and will vest in accordance with the provisions ascribed thereto and the policies of the TSX Venture Exchange.
WISHPOND TECHNOLOGIES LTD.
Per: "Ali Tajskandar"
Ali Tajskandar, Chairman and Chief Executive Officer
About Wishpond Technologies Ltd.
Based out of Vancouver, British Columbia, Wishpond is a provider of marketing-focused online business solutions. Wishpond's vision is to become the leading provider of digital marketing solutions that empower entrepreneurs to achieve success online. The Company offers an "all-in-one" marketing suite that provides companies with marketing, promotion, lead generation, and sales conversion capabilities on one integrated platform. Wishpond replaces disparate marketing solutions with an easy-to-use product, for a fraction of the cost. Wishpond serves over 3,000 customers who are primarily small and medium-sized businesses (SMBs) in a wide variety of industries. The Company has developed cutting-edge marketing technology solutions and continues to add new features and applications with great velocity. The Company employs a Software-as-a-Service (SaaS) business model where substantially all the Company's revenue is subscription-based recurring revenue which provides excellent revenue predictability and cash flow visibility. Wishpond is listed on the TSX Venture Exchange under the ticker "WISH", and on the OTCQX Best Market under the ticker "WPNDF". For further information, visit: www.wishpond.com.
Forward-Looking Statements
This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Forward-looking information contained herein may relate, without limitation, expectations regarding the growth of Brax and its business, the adoption and expectations of management for Brax's Universal Ads Editor, the successful integration of Brax and Wishpond, and expectations regarding the ability of Wishpond and Brax to cross-sell their products, among others. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The Company undertakes no obligation to comment analyses, expectations or statements made by third-parties in respect of the Company, its securities, or financial or operating results (as applicable). Although the Company believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including, but not limited to, the risk factors discussed in the public disclosure documents of the Company which such risk factors are incorporated herein by reference and are available through SEDAR at www.sedar.com. The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
View original content to download multimedia:https://www.prnewswire.com/news-releases/wishponds-brax-expands-sales-team-and-launches-a-new-universal-ads-product-301464796.html
SOURCE Wishpond Technologies Ltd.
