The Victoria-based company will pay US$75 million in cash and US$10 million in stock for the Singapore-based firm, whose tools for reviews and loyalty programs integrate with e-commerce platforms like Shopify and BigCommerce. Stamped reported US$11 million in annualized recurring subscription revenue at the end of 2020, and its shareholders will receive an additional US$25 million if it hits earnings targets. WeCommerce backer Tiny is also an investor in The Logic. (The Logic)
Skip to content
The Victoria-based company will pay US$75 million in cash and US$10 million in stock for the Singapore-based firm, whose tools for reviews and loyalty programs integrate with e-commerce platforms like Shopify and BigCommerce. Stamped reported US$11 million in annualized recurring subscription revenue at the end of 2020, and its shareholders will receive an additional US$25 million if it hits earnings targets. WeCommerce backer Tiny is also an investor in The Logic. (The Logic)
Talking point: Friday’s deal is the first since WeCommerce listed on the TSX Venture Exchange in December 2020. Its last acquisition—Instagram plugin Foursixty in June 2020—was just over a tenth the size. WeCommerce is one of a number of app makers riding the pandemic-induced Shopify wave. Shares in WeCommerce rose more than three per cent in significantly elevated trading on Friday.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
News
Canadian firms are ready to help with digital sovereignty. Their challenge is getting approved
Briefing
Cohere lands compute and development deal with Saudi Arabia’s AI firm Humain
MDA Space to buy control of French Earth-observation company for $920M
Meta officially unveils a $13B data-centre facility in Alberta
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
