Winback offers SMS e-commerce marketing solutions to small and medium-sized businesses with a specialty in providing cart abandonment technology to Shopify merchants.
Winback is expected to immediately accrue to Wishpond, generating recurring revenue with healthy gross margins and positive cash flow.
Vancouver, British ColumbiaAnd January 4, 2022 / cnw / – Wishpond Technologies Ltd. (TSXV: WISH) (OTCQX: WPNDF) (“company“or”Wishpond“), a marketing-focused online business solutions provider, announces that it has completed its previously announced acquisition of certain specified assets and liabilities (“assets“) from AtlasMind Inc. (d/b/a) Winback.chat (“win over“). The total return of the assets was 700,000 USD, cash on hand. Depending on New YorkWinback for Wishpond provides easy-to-use and automated SMS marketing solutions including a cart abandonment tool that can also be sold to Wishpond’s existing e-commerce customers, thus creating a more stable offer.
“We are delighted to welcome Winback into the Wishpond family,” said Ali Tajkander, Chairman and CEO of Wishpond. “Winback is a great strategic fit with our existing product offerings and cross-selling opportunities are expected to increase the lifetime value of our customers. Winback is our fourth acquisition since we went public just over a year ago; creating Wishpond’s track record as a disciplined acquirer and capital allocator. “.
Winback provides an SMS marketing platform for small and medium-sized businesses, including a shopping cart abandonment app for Shopify merchants, which installs with a single click. Winback technology is triggered when a shopper browses but does not add anything to their cart. In the past, Winback clients have seen up to 35 times return on their investment. The product is very intuitive and easy to use which makes it a perfect fit for Wishpond’s target customer base.
Winback has a diverse customer base of more than 350 paying customers per month, resulting in a high annual revenue turnover 450,000 USD. The majority of Winback’s clients are located in United StateIt aligns well with Wishpond’s targeted growth plans. Winback is a good company with growing recurring revenue, strong EBITDA margins of over 20%, and positive cash flow. Winback will continue to maintain its own brand and maintain the existing relationship with the client, while Wishpond will provide operational support. The ability to sell Winback products and add them to existing Wishpond packages is expected to create a higher value product for Wishpond customers, resulting in increased MRR (Monthly Recurring Revenue), increased customer retention and long-term value.
WISHPOND TECHNOLOGIES LTD.
According to: “Ali Tay”
Ali Taj Iskandar, Chairman and CEO
About Wishpond Technologies Ltd.
Depending on Vancouver, British ColumbiaWishpond is an online business solutions provider focused on marketing. Wishpond’s vision is to become the leading provider of digital marketing solutions that enable entrepreneurs to achieve success online. The company offers an “all-in-one” marketing suite that provides businesses with the capabilities of marketing, merchandising, lead generation and sales conversion from a single integrated platform. Wishpond completely replaces marketing functionality in an easy-to-use product, at a fraction of the cost. Wishpond serves more than 3,000 clients who are primarily small to medium-sized businesses (SMBs) in a variety of industries. The company has developed advanced marketing technology solutions and continues to add new features and applications very quickly. The company uses a “Software as a Service” (SaaS) business model where pretty much all of the company’s revenue is subscription-based recurring revenue, providing excellent revenue predictability and cash flow visibility. Wishpond is listed on the TSX Venture Exchange under the ticker “he wishes“, and in the OTCQX Best Market under the index”WPNDFFor more information, please visit: www.wishpond.com.
This press release does not constitute an offer to sell or the solicitation of an offer to purchase any securities in any jurisdiction. Any securities referred to herein are not and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in United State or to a US person who is absent from registration or applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.
Notice regarding forward-looking statements
Certain statements in this press release relating to the company are forward-looking statements of a forward-looking nature. Forward-looking statements are not based on historical facts, but rather are based on current expectations and expectations about future events, and are therefore subject to risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by forward-looking statements. These statements can generally be identified by using forward-looking words such as “may,” “should,” “could,” “intend,” “estimate,” “plan,” “expect,” “expect,” “believe,” or “continue.” , or negative ones or similar variables. Forward-looking statements in this news release include statements that the total purchase price is expected to be approx 700,000 USDand data related to the expected financial results. There are many risks and uncertainties that could cause actual results and Wishpond’s plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) the risks of COVID-19; (ii) difficulties and delays associated with integrating and growing the Winback.chat business; (3) other factors beyond the control of the company; and (iv) the risks described in the Wishpond documentation publicly available on SEDAR. Actual results and future events could differ materially from those projected in such information. This and all subsequent written and oral forward-looking information are based on management’s estimates and opinions on the dates they were made and are expressly qualified in their entirety by this notice. Except as required by law, the company does not intend to update these forward-looking statements.
Neither TSX Venture Exchange nor the Regulatory Services Provider (as defined in the TSX Venture Exchange policies) accept responsibility for the adequacy or accuracy of this release.
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SOURCE Wishpond Technologies Ltd.
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