- In addition to bringing more than 150 customers into the
Wishpond family, the acquisition of Essential Studio Manager
("ESM") expands Wishpond's award-winning 'all-in-one' sales and
marketing technology platform with additional new business
management and CRM functionality.
VANCOUVER, BC, May 3, 2023
/CNW/ - Wishpond Technologies Ltd. (TSXV: WISH) (OTCQX:
WPNDF) (the "Company" or "Wishpond"), a provider of
marketing-focused online business solutions, is pleased to announce
that it has completed the acquisition (the "Acquisition") of
certain assets of Essential Studio Manager LLC ("ESM").
Based out of Wilmington, Delaware,
ESM is a provider of business management software, including
invoicing and customer relationship management ("CRM")
solutions for small businesses in the services industry. With this
Acquisition, Wishpond has added another piece to its goal of
offering a complete end-to-end customer lifecycle solution to small
businesses which streamlines and automates their sales, marketing,
and business management processes.
Ali Tajskandar, Chairman and CEO of Wishpond, commented on the
acquisition, "We are extremely happy to announce our first
acquisition of the year and the sixth acquisition since going
public in December of 2020. We've begun to look at new tuck-in
acquisition opportunities once again, and we are really excited
about adding ESM as it furthers our mission to help small
businesses grow and succeed. ESM has built a comprehensive suite of
complementary business productivity solutions which we believe our
customers will derive tremendous value from as part of Wishpond's
product offering. We expect this acquisition will provide
significant benefits to small businesses, allowing them to
streamline and automate their marketing and business processes,
save time and money, and focus on growing their business."
Founded in 2013, ESM has more than 150 customers, primarily
comprised of small services-oriented businesses from various
industries. ESM helps these small businesses manage their financial
and CRM-related processes such as invoicing, expense management,
booking appointments, automated customer communication, contract
digital signing, embedded forms, notifications, and more. These
functions consume a significant amount of time and attention from
entrepreneurs who have a limited time and budget. Instead, for the
low cost of a monthly subscription, ESM allows small business
owners to spend their time on growing their business.
Wishpond will retain ESM's brand, website, and client
relationships while providing operational support and offering
cross-selling opportunities. ESM is expected to be integrated with
Wishpond's next-generation Propel IQ platform this year. Wishpond
customers using Propel IQ's sales and marketing platform will then
be able to provide contract signing, invoicing and access other CRM
functionality from one single platform.
Jordan Gutierrez, Chief Operating
Officer of Wishpond, added "ESM is a natural fit for Wishpond's
customers as it complements our existing sales and marketing
software and solutions. This acquisition expands our product
offering and allows Wishpond to serve a broader range of small
business customers. Furthermore, this acquisition will create
cross-selling opportunities for Wishpond as we can offer ESM's
software to Wishpond's existing base of over 4,000 customers,
increasing the value of our customer relationships. We expect this
acquisition will result in higher customer retention and an
increase in long-term customer value for Wishpond. We believe ESM
allows Wishpond to provide the most complete solution on the market
for small business to manage their sales, marketing, invoicing, and
customer relationship efforts."
WISHPOND TECHNOLOGIES LTD.
"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 is a leading provider of digital
marketing solutions that empower entrepreneurs to achieve success
online. The Company's Propel IQ platform offers an "all-in-one"
marketing suite that provides companies with marketing, promotion,
lead generation, ad management, referral marketing, sales
conversion and outbound sales automation 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 4,000 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
including an artificial intelligence (AI) powered website builder,
and continues to add new features and applications. The Company
employs a Software-as-a-Service (SaaS) business model where most of
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.
Cautionary Disclaimers
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities in any jurisdiction.
Any securities referred to herein have not been, nor will they be,
registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold in the United States or to a U.S. Person absent
registration or an 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 news release related to the Company
are forward-looking statements and are prospective in nature.
Forward-looking statements are not based on historical facts, but
rather on current expectations and projections about future events
and are therefore subject to risks and uncertainties which could
cause actual results to differ materially from the future results
expressed or implied by the forward-looking statements. These
statements generally can be identified by the use of
forward-looking words such as "may", "should", "could", "intend",
"estimate", "plan", "anticipate", "expect", "believe" or
"continue", or the negative thereof or similar variations. Forward
looking statements in this news release include statements on
Wishpond's expected benefits from the Acquisition, statements
regarding the business and operations of ESM, and statements
regarding anticipated outcomes and results of integration and cross
selling efforts. There are numerous 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) geopolitical risks; (ii) macroeconomic
and inflationary risks; (iii) COVID-19 and similar pandemic risks;
(iv) difficulties and delays associated with integrating and
growing the ESM business; (v) errors, bugs and other computer and
information technology issues; (vi) foreign operations risks; (vii)
other factors beyond the control of the Company; and (viii) risks
outlined in Wishpond's publicly filed documents available on SEDAR.
Actual results and future events could differ materially from those
anticipated in such information. These and all subsequent written
and oral forward-looking information are based on estimates and
opinions of management on the dates they are 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 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.
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SOURCE Wishpond Technologies Ltd.