Wishpond Technologies Ltd. reports developments tied to its AI-enabled marketing-focused online business solutions, product portfolio, and public-company capital structure. Recurring news includes operating and financial results, material agreements, shareholder voting matters, governance changes, and balance-sheet actions.
Company updates also cover completed portfolio changes, including the sale of the Viral Loops referral marketing campaign software platform, and the completed SalesCloser transaction, after which Wishpond retained a majority ownership position. These items frame Wishpond as a marketing technology issuer focused on its core AI-driven marketing and sales platform.
Wishpond Technologies Ltd. (OTCQX: WPNDF) announces CEO Ali Tajskandar's participation in two upcoming conferences. He will present at the TSX Technology Investor Day on November 3, 2021, and the OTC Markets Consumer/Digital Services Conference on November 4, 2021. Tajskandar will discuss the company's significant achievements since its public listing in December 2020, including raising over $12 million and 73% year-over-year revenue growth in Q2 2021. The conferences will provide insights into Wishpond's future strategies including acquisition plans.
Wishpond Technologies Ltd. announced the integration of its Appointments product with Zoom, now available on the Zoom App Marketplace. This new feature allows over 3,000 customers to schedule virtual meetings seamlessly, enhancing customer interactions and potentially reducing 'no-show' rates. The integration includes automated meeting link sharing in confirmation emails. Wishpond continues to enhance its all-in-one digital marketing platform, which includes over 300 other integrations. This development reflects Wishpond's commitment to providing innovative solutions for small and medium-sized businesses.
Wishpond Technologies Ltd. has secured a $6 million revolving credit facility from National Bank of Canada's Technology and Innovation Banking Group. This facility, undrawn as of the announcement date, aims to bolster the company's capital for future growth and acquisitions. Wishpond currently holds over $7.5 million in cash with no debt, positioning itself strongly for expansion. The credit facility is secured against the company's assets and is intended for working capital and general corporate purposes.
Wishpond Technologies Ltd. (OTCQX: WPNDF) has acquired Brax.io, expanding its digital ad management solutions. This marks Wishpond's third acquisition in 2021. Brax generated approximately US$1.5 million in revenue over the last twelve months and has gross margins of 80%. Kevin Ho, Wishpond's former VP of Marketing, has been appointed as General Manager of Brax. The total purchase price is around US$2 million, with US$1.33 million paid in cash and the rest based on future revenue. This strategic acquisition is expected to enhance Wishpond’s offerings to small and medium-sized businesses.
Wishpond Technologies Ltd. reported a record quarterly revenue of $3,226,877 for Q2-2021, marking a significant 73% year-over-year growth. The growth was attributed to both organic growth from an expanded sales team and the contributions from recent acquisitions, Invigo and PersistIQ. Despite this, the company faced adverse impacts from foreign currency fluctuations and initial acquisition accounting adjustments. The outlook remains positive, with expectations for strong growth continuing into the second half of 2021.
Wishpond Technologies Ltd. (OTCQX: WPNDF) will release its Second Quarter 2021 financial results on August 26, 2021, prior to the market opening. A live video webinar for discussing the results will also take place on the same day at 12:00 pm ET. The webinar will feature key executives, including CEO Ali Tajskandar and CFO Juan Leal. Wishpond focuses on providing marketing solutions to small and medium businesses through a subscription-based SaaS model, serving over 3,000 customers.
Wishpond Technologies Ltd. (TSXV:WISH, OTCQX:WPNDF) will present at the SNN Network Summer Virtual Event 2021 on August 18 at 3:30 PM EST. CEO Ali Tajskandar will lead the presentation, followed by a Q&A session for investors. Interested parties can join via a dedicated webcast link and schedule 1-on-1 meetings through the event platform. If unable to attend live, recordings will be accessible on the conference site. Wishpond is known for its marketing solutions for small-to-medium businesses, boasting over 3,000 customers and a subscription-based revenue model.
Wishpond Technologies Ltd. (OTCQX: WPNDF) announced its common shares now have DTC eligibility, enhancing trading accessibility for U.S. investors. Following an upgrade to the OTCQX Best Market on June 24, 2021, this eligibility facilitates electronic clearing and settlement, which is expected to improve liquidity and streamline the trading process. With over 3,000 customers primarily from SMBs, Wishpond operates on a subscription-based SaaS model, providing marketing solutions that empower entrepreneurs.
Wishpond Technologies Ltd. (TSXV: WISH; OTCQX: WPNDF) announced the voting results from its Annual General and Special Meeting of Shareholders held on June 30, 2021. A total of 33,869,071 common shares were voted, representing 65.37% of all outstanding shares. Shareholders approved various resolutions, including the election of five directors and the appointment of BDO Canada LLP as the company's auditor. The company continues to focus on providing marketing solutions to SMBs through its SaaS model, enhancing its digital presence and customer base.
Wishpond Technologies Ltd. has announced a partnership with Stukent, Inc. to enhance digital marketing education across major U.S. and Canadian educational institutions. Since 2017, students have leveraged Wishpond's offerings on Stukent's platform, which includes institutions like Dartmouth College and The Ohio State University. The partnership will introduce new Email Marketing Automation coursework, complementing existing programs. With an emphasis on preparing students for economic recovery, this collaboration aims to empower future business leaders with hands-on marketing experience.