Business
Wishpond Announces Acquisition of Viral Loops - a Leading Provider of Referral Marketing Solutions
Wishpond Announces Acquisition of Viral Loops - a Leading Provider of Referral Marketing ...
About this update from Wishpond Technologies Ltd.
[{"type":"text","content":"\n \n \n \n Wishpond Announces Acquisition of Viral Loops - a Leading Provider of Referral Marketing Solutions\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Viral Loops enables businesses to launch, monitor and manage referral campaigns to create viral demand for their products.\n \n \n Viral Loops has strong sales growth from more than 700 customers, is EBITDA positive and is expected to be immediately accretive to Wishpond.\n \n \n \n \n \n \n \n \n \n \n \n \n VANCOUVER, B.C.\n \n \n ,\n \n \n April 4, 2022\n \n \n \n April 4, 2022\n \n -\n \n Wishpond Technologies Ltd.\n \n (TSXV: WISH) (OTCQX: WPNDF) (\"\n \n Wishpond\n \n \" or the \"\n \n Company\n \n \"), a provider of marketing-focused online business solutions, is pleased to announce that it has completed the acquisition\n \n (the \"Acquisition\"\n \n ) of certain assets and specified liabilities constituting substantially all of the business and assets of Viral Loops Limited (\n \n \"Viral Loops\")\n \n pursuant to an asset purchase agreement (the \"APA\") effective\n \n April 1, 2022\n \n . Headquartered in\n \n London, England\n \n , Viral Loops is a referral marketing software platform that helps companies acquire new customers and increase sales through the power of word-of-mouth and referral marketing.\n \n \n \"We are very pleased to announce our first acquisition of 2022 and the fifth acquisition since Wishpond went public in\n \n December 2020\n \n ,\" said Ali Tajskandar, Chairman and CEO of Wishpond. \"Viral Loops has built a company with tremendous brand recognition in the industry and has demonstrated consistent, strong revenue and EBITDA growth. Besides growing Viral Loops as a stand-alone business, we believe there are tremendous cross-sell opportunities for offering referral marketing solutions to Wishpond's existing customer base of over 3,000 small to medium sized businesses. We are thrilled to welcome the Viral Loops team to the growing Wishpond family.\"\n \n \n Founded in 2016, Viral Loops helps businesses unlock their viral growth through powe...