Perk.com, based in Austin, announced Wednesday that its common shares began trading today on the Toronto Stock Exchange under the stock symbol “PER.”
The startup, which creates a rewards platform for users online, also raised about $20.2 million in a private placement financing as part of a qualifying transaction. Canaccord Genuity Corp. and Beacon Securities Limited served as lead agents in the private placement with participation from Cormark Securities and Haywood Securities.
Perk US, founded in 2009, launched its mobile rewards program platform in 2013. The company offers “Perk Points” as a digital rewards to people for their mobile and Internet activities and for playing social games and watching videos. Those Perk Points can be redeemed for gift cards and cash. Users can also earn points through the company’s third party partner network of apps, called Appsaholic.
The company reported revenue of $17.1 million for the year ended Dec. 31, 2014, up from $700,000 a year ago. On April 17th, Perk US acquired the assets and liabilities of Tsavo Mobile Web, based in Canada. the combined company would have reported revenues of $36.4 million for the year ended Dec. 31, 2014.
“This is a major milestone in Perk’s history. Obtaining a listing on the TSX provides us a strong foundation for access to future capital and top talent,” Ted Hastings, CEO of Perk, said in a news release. “The principal purposes of the funds raised from the private placement are to expand the Company’s advertising sales team, grow the user base, product development work, and marketing for the coming year. We will continue to look for international market expansion opportunities.”