Wishpond Technologies Ltd. (TSX-V:WISH, OTCQX:WPNDF) said it has completed the integration of its recently acquired subsidiary Viral Loops Technologies Inc, resulting in improved growth in the combined businesses due to greater cross-selling and bundling opportunities with larger deal sizes.
Wishpond said it now offers Viral Loops’ referral marketing software platform to its customers, allowing Viral Loops to reach a larger customer base while increasing the value of Wishpond’s bundled packages and the company’s average revenue per user.
Wishpond added that its customers also benefit from having access to a wider range of solutions to grow their online business.
READ: Wishpond Technologies achieves record revenue for 2Q as sales team expansion and new product introductions fuel growth
Viral Loops has witnessed increased revenue and customer growth since being acquired by Wishpond in April 2022, according to the company.
Wishpond CEO Ali Tajskandar said the company’s ability to offer Viral Loops to its clients has been extremely valuable, as the platform offers a perfect synergy with Wishpond’s existing solutions.
“We can't wait for more of our clients to start tapping into Viral Loops' potential to grow their businesses,” Tajskandar said. “We expect that incorporating Viral Loops products into Wishpond's already-proven sales strategy will allow us to maintain strong growth from the platform.”
Viral Loops general manager Dimitris Tzortzis added that Viral Loops has traditionally relied on inbound traffic to acquire new customers, but now it is able to combine its strong organic inbound marketing channel with Wishpond’s outbound sales engine to boost revenue growth.
"Viral Loops is fortunate that it is able to tap into the sales processes and bench strength of Wishpond, adopting its proven sales practices for lead prospecting, sales development and sales pipeline management,” Tzortzis said.
Grant of incentive awards
Further, Wishpond announced that it has granted 75,000 incentive stock options, 475,000 restricted stock units, and 1,150,000 performance share units under the company’s Omnibus Equity Incentive Plan to certain directors and officers, employees, contractors, and investor relations advisors to purchase an aggregate of up to 1,700,000 shares in the capital of the company.
Wishpond said the options were granted effective September 30, 2022, and the restricted stock units and performance share units were granted effective October 1, 2022.
Based in Vancouver, British Columbia, Wishpond is a provider of marketing-focused online business solutions.
Contact the author at emily.jarvie@proactiveinvestors.com
Follow her on Twitter @emilyjjarvie