Braxy.io enables businesses to launch and manage new ads with a cost-effective Artificial Intelligence ("AI") powered platform that defines better customer targeting for significantly better results.
Braxy is a new product introduction from a Wishpond subsidiary, evidencing the growing success of Wishpond's tuck-in acquisition strategy
VANCOUVER, BC, Dec. 1, 2022 /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 its wholly-owned subsidiary, Brax.io, has launched Braxy, a new and easy to use AI-powered advertising solution for businesses. Braxy's AI powered platform automatically creates and optimizes campaigns to allow businesses to attract more customers in less time. Businesses can use Braxy to create ads that target a more precise customer profile that purchases their products and services. The Company believes that using the Braxy platform will allow businesses to achieve significantly better results compared to managing Google ads on their own, and at a fraction of the cost of hiring a full-service agency.
"We are very excited to launch Braxy," said Kevin Ho, General Manager of the Brax.io division of Wishpond. "Small businesses have long been underserved by the best digital marketing solutions and ad placement strategies. Braxy changes that by providing a simple, effective, and affordable online ad solution to get businesses started even with small ad budgets."
For small and medium sized businesses, often their only choice is either to learn how to advertise themselves by spending hours navigating a complicated Google interface or pay an expensive agency to do it for them. Braxy solves this problem by simplifying the setup process, allowing businesses to get set up in as little as 10 minutes, for the cost of an affordable software subscription.
Braxy's AI works to define better targeting, choose new keywords/negative keywords, set schedules, and launch new ads. All of this is visible from an easy-to-read dashboard that displays the number of calls, views, and conversions in real-time. The Company believes that Braxy can deliver click-through rates ("CTR") of as high as 8% compared to industry averages of about 2%.
"The launch of Braxy is a significant milestone for Wishpond as it represents an important new product introduction from a Wishpond acquisition," said Ali Tajskandar, CEO and Founder of Wishpond. "This launch also further validates our M&A strategy and serves as another indicator for the success of our tuck-in acquisitions. Furthermore, we are very happy with the Brax team and look forward to seeing their continued success as we grow the business."
Wishpond will begin cross-selling Braxy to its current base of more than 4,000 customers and believes that its customers can deploy this solution along with other Wishpond online marketing solutions to increase their conversions and sales. To learn more about Braxy, visit www.braxy.io.
Grant of Incentive Awards
Wishpond also announces the grant of 150,000 incentive stock options ("Options") to Lloyed Lobo, a recently appointed director, each exercisable to acquire one common share in the capital of the Company at an exercise price of $0.80 per share, expiring on November 30, 2032 and vesting over four years as follows: 25% vesting at the one year anniversary of the grant and the balance vesting quarterly over the following three years. In addition, an aggregate of 30,000 restricted stock units ("RSUs") were granted to an employee of the Company with vesting over two years with 50% vesting on the first anniversary of the grant and balance vesting quarterly over the second year. The Options and the RSUs were granted effective November 30, 2022 in accordance with the Company's Omnibus Equity Incentive Plan and the policies of the TSX Venture Exchange.
Wishpond Technologies Ltd.
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 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 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.
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 with respect to the performance of Braxy, results that may achieved by customers in using Braxy, customer and market acceptance of Braxy, the Company's ability to develop and deploy new products, the Company's ability to cross-sell its products, the continued growth of the Company and future acquisitions as well as statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions, and statements related to the features, adoption, usability, performance and results related to the new email marketing platform introduced by Wishpond. Readers are cautioned not to 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 on 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, risks related to the performance, adoption and market acceptance of Wishpond's products and services (including of Braxy), the success of the Company's cross-selling efforts, regulatory risks, privacy risks , general market conditions, as well as 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 is expressly qualified by this cautionary statement and is 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.
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SOURCE Wishpond Technologies Ltd.
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