Wishpond's PersistIQ Grows Sales Team and Introduces New Product Enhancements and Service Packages

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Nov 16, 2021, 07:00 ET

Integration of PersistIQ business has been successful and the business is exceeding growth expectations

VANCOUVER, BC, Nov. 16, 2021 /PRNewswire/ - Wishpond Technologies Ltd. (TSXV: WISH) (OTCQX: WPNDF) ("Wishpond" or the "Company"), a provider of marketing-focused online business solutions, is pleased to announce that its PersistIQ business is on track and performing better than expected since being acquired by Wishpond earlier this year. PersistIQ is now integrated into Wishpond's operations and achieving significant growth thanks to the scaling of its sales team and introduction of new product enhancements and service packages.

Ali Tajskandar, Chairman and CEO of Wishpond commented, "We are very pleased with our acquisition of PersistIQ. It has broadened our portfolio of products and services for small to medium-sized businesses and offers tremendous cross-selling opportunities into our existing customer base. PersistIQ is a key component of our accelerated growth strategy."

PersistIQ's accelerated growth has primarily been driven by the Company's ability to scale its sales team, leading to increased monthly recurring revenue. With a new leadership team led by Wishpond's former Chief Product Officer, Nick Steeves, PersistIQ has scaled its sales teams, successfully renewed several key contracts, and increased its customer count to over 900 clients.

In addition, PersistIQ has developed new services and product enhancements that have helped the business achieve significant growth. These new solutions feature an enhanced sales automation platform and a service package that gives B2B small business owners access to PersistIQ's award-winning technology, outbound sales strategies, and a team of experts to help small businesses grow.

PersistIQ is now also integrated with Wishpond's shared services, including the Company's account management teams. This integration has allowed PersistIQ to introduce new service packages and teams that are integrated with Wishpond shared services, including a new lead generation team, outbound campaign teams, sales development rep (or "SDR") teams, and copy teams. In addition to service integrations, PersistIQ's development team has also been fully absorbed by Wishpond and is now managed by Wishpond Chief Technology Officer, Dennis Zelada. Initial work has begun on migrating both PersistIQ's backend infrastructure and database engine to Wishpond for increased scalability.

PersistIQ has started to leverage Wishpond's shared account management services which allows Wishpond to provide PersistIQ with a new sales team and services which will provide more growth opportunities for small businesses using PersistIQ. The entire Wishpond SDR team has also moved to using PersistIQ sales automation platform which has significantly improved the performance of Wishpond's campaigns due to improved email deliverability and usability.

PersistIQ has also optimized its pricing plans, introduced new team packages and optimized website sign up processes to increase inbound conversion rates. Overall, new fully managed packages ranging from $500-$2000 have been created and are gaining traction.

"Integrating services between Wishpond and PersistIQ is an important step for PersistIQ's growth. We are very proud of our increase in revenue and introduction of new service offerings since the acquisition. Further scaling our sales team will help us to continue on this growth path forward," said Nick Steeves, General Manager of PersistIQ.

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 from one integrated platform. Wishpond replaces entire marketing functions in an easy-to-use product, for a fraction of the cost. Wishpond serves over 3,000 customers who are primarily small-to-medium size 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 under the ticker "WPNDF". For further information, visit: www.wishpond.com.

ON BEHALF OF THE BOARD
"Ali Tajskandar"
Chairman, Director and CEO

Forward-Looking Statements

This news release may contains forward-looking statements, which are not based on historical facts, but rather on current expectations and projections about future events, and therefore involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from future results expressed or implied by the forward-looking statements current expectations. Important factors including, but not limited to, the availability of funds, acceptance, integration, development and adoption of the Company's products, competition, and general market conditions and risks outlined in the Company's publicly filed documents available on SEDAR could cause actual results to differ materially from the Company's expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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SOURCE Wishpond Technologies Ltd.