Phivida Holdings Inc. has entered into a definitive agreement to acquire Wikala.com Inc., a Canadian technology firm.
- Acquiring leading online platform for cannabis information, generating over 400,000 average monthly users, creating a premier consumer packaged goods company with direct-to-consumer access via Wikala.com
- Accelerates Oki and Vida+ branded products into the United States market with the addition of Wikala’s e-commerce platform
- Online retail site being launched for cannabis and hemp-related accessories as well Phivida’s Oki and Vida+ products
- Combined with the recently launched feeloki.com website, the acquisition creates a consumer ecosystem that will enhance visibility of Phivida brands and create brand loyalty
- All share transaction worth approximately C$22.5 million expected to close on or before May 31, 2019
- Wikala.com to become wholly-owned subsidiary of Phivida
Wikala is imminently launching a comprehensive e-commerce site featuring cannabis products and accessories, including Phivida’s Oki beverages and hemp oil supplements, and Vida+ hemp CBD oil extracts and capsules. Wikala’s online education and information platform, Greencamp.com, will drive traffic to the site. Greencamp.com provides an online content platform focused on the cannabis sector. The site’s offering of news, reviews, health tips, and how-to guides, all based around CBD and cannabis, is valued by users and encourages ongoing engagement.
Since its launch in June 2017, Greencamp has increased traffic to the site to over 400,000 average monthly users and continues to grow.
“Our market research told us that the target consumers for Oki and Vida+ preferred to connect directly to a brand, whether for time and efficiency or to gain a deeper understanding of the brand itself. This was the rationale for our use of social media as our core marketing strategy. With the launch of our online store feeloki.com, we saw the need to have a more expanded platform, to better serve the consumer and provide greater choices in their shopping experience,” said Jim Bailey, President and CEO of Phivida. “Wikala does an incredible job of feeding the world’s never-ending cannabis and CBD curiosity and its high levels of traffic and user engagement will make its e-commerce site an attractive showcase for leading cannabis and hemp brands, including our products. We see this combination as an opportunity to create a trusted consumer ecosystem that will inform and educate – and ultimately lead the consumer to purchase.”
“Joining forces with Phivida will accelerate our goal of addressing user needs by building a superior direct-to-consumer online platform built on quality, information and trust,” said David Moon, Founder and CEO of Wikala.com. “Phivida and Wikala have a shared vision of focusing on the consumer and providing the best user experience in the industry, and we look forward to partnering with a growing portfolio of world-class brands.”
“Not only was I impressed by David’s accomplishments with his platform, but I was equally impressed by his work ethic and our shared approach to business,” continued Jim Bailey. “I firmly believe that between our Oki and Vida+ branded platforms, along with Wikala, we can create a trusted ecosystem that surrounds the consumer and provides them with a one-stop shop format. Following the close of our acquisition, David will continue as President of Wikala, reporting to me, and will also continue with the next phase of growing Wikala.com – with the goal of becoming the world’s leading multinational technology company in the cannabis industry.”