Wishpond acquires SMS marketing company Winback.chat for $ 700,000

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Vancouver-based Wishpond acquired Winback.chat from AtlasMind Inc. for $ 700,000 USD in cash. With the deal closed in December, this marks Wishponds’ fourth acquisition in 2021.

Based in New York, Winback provides automated SMS marketing solutions, including a cart abandonment tool for Shopify merchants that can be installed with a single click.

Winbacks technology is implemented when a shopper browses but adds nothing to their cart. The company claims that its customers have achieved up to 35 times the return on investment using Winback technology.

Founded in 2009, Wishpond is a digital marketing solutions startup offering a suite of cloud-based applications and services for business growth.

Since its inception, Wishpond has expanded its technology suite to include a lead generation platform, an email marketing platform, and a marketing automation system. It currently boasts a customer base of over 3,000, which are mainly small and medium-sized businesses.

With the purchase of Winback, this is the second set of assets Wishpond has acquired from AtlasMind. In August, it also acquired the Brax.io ad management platform for $ 2 million.

RELATED: Wishpond secures $ 6 million in revolving credit from the National Bank to fuel acquisition strategy

To fuel its acquisition strategy, Wishpond secured a $ 6 million revolving operating line from the National Bank of Canadas Technology and Innovation Banking Group in September.

With over 350 paying customers monthly, Winback generates an annual revenue rate in excess of $ 450,000 USD. The majority of its customer base is located in the United States, which Wishpond says is in line with its targeted growth plans.

Following the acquisition, Winback will continue to maintain its brand and customer relationships, while Wishpond will provide operational support.

Prior to starting Wishpond, CEO Ali Tajskandar worked as a software engineer at a number of high-tech startups including SoundLogic (acquired by Lucent), Seance Software and Bitspan Network.

Wishpond has made a number of acquisitions in the past, including San Mateo, California-based SaaS startup PersistIQ for $ 3 million, consisting of equal shares of cash, common stock, and one-year revenue-based income. by PersistIQ.

The TSX Venture Exchange-listed startup also bought Invigo, a Surrey-based marketing technology company focused on medical clinic service, where Wishpond agreed to pay $ 835,000 upfront, plus a two-year return. Wishpond is also listed in the OTCQX Best Market under WPNDF.

In June, Wishpond partnered with Stukent, an Idaho-based company that provides digital courses to integrate Wishponds technology on the Stukent platform and introduce digital marketing and social media engagements.

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