11:05:57 EDT Fri 17 May 2024
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Thinkific Labs Inc
Symbol THNC
Shares Issued 24,792,856
Close 2023-11-27 C$ 3.39
Market Cap C$ 84,047,782
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Thinkific Labs hopes you'll gift learning products

2023-11-28 11:51 ET - News Release

Mr. Greg Smith reports

THINKIFIC LAUNCHES GIFTING - ENABLING CREATORS TO SUPERCHARGE SALES FOR CYBER WEEK AND BEYOND

Thinkific Labs Inc. has officially launched Gifting, a highly requested new feature which empowers creators to supercharge their sales by enabling them to offer their learning products as unique and specialized gifts.

Adding to the growing list of features available to creators within Thinkific's suite of payment tools -- TCommerce -- Gifting allows their buyers to seamlessly purchase any learning product as a gift for someone else. The feature eliminates the need for creators to devise complex workarounds, providing a streamlined and user-friendly gifting experience for their customers.

Since being first rolled out to Thinkific creators, the feature has already gained notable traction with average transaction sizes 34 per cent higher than normal and the largest gift purchased exceeding an impressive $4,000.

"I receive e-mails daily from customers who want to gift on-line classes to loved ones," said Thinkific creator, Stephanie Veillon, chief executive officer at Being Well Inc. "This Gifting feature will no doubt generate far more sales and help lighten my workload."

Current Gifting features include a seamless checkout experience allowing gift buyers to simply specify that a learning product is a gift and have it sent directly to a recipient, add custom messages and receive e-mail notifications confirming payments, and that gifts have been received. Future features will include the ability to schedule gifts to arrive on key dates, and many others designed to ensure a smooth, hassle-free gifting experience.

"We're committed to giving customers the best and most impactful tools to boost their revenue and grow their on-line businesses," said Greg Smith, chief executive officer of Thinkific. "Our new Gifting feature not only aligns with this focus but also demonstrates our continuous commitment to platform and feature innovation. I'm very proud that in a year in which we've achieved earlier than expected profitability, we've also delivered a series of dynamic new feature releases of which Gifting is the most recent significant addition."

About Thinkific Labs Inc.

Thinkific makes it simple for creator educators and established businesses of any size to scale and generate revenue by teaching what they know. The company's platform gives businesses everything they need to build, market and sell digital learning products -- from courses to communities -- and to run their business seamlessly under their own brand, on their own site. Thinkific's 50,000-plus active creators earn hundreds of millions of dollars in direct course, membership and community sales while teaching tens of millions of students. Thinkific is headquartered in Vancouver, Canada, with a distributed team.

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