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.
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.