TORONTO and DENVER, May 9, 2023 /CNW/ – Bond, a leading customer experience, loyalty, and growth firm, announces a strategic investment in its business from Colorado-based private equity firm, Mountaingate Capital. The announcement follows a strong period of growth for Bond and reflects the potential for further expansion in both reach and offerings to better serve clients.
“Bond’s success is a direct result of its ability to generate customer growth for its clients,” said Trent Sisson, Managing Director of Mountaingate. “Bond is a unique platform we are committed to expanding organically through great work as well as through acquisitions of like-minded businesses. We’re excited to partner with CEO Bob Macdonald, his leadership team, and a deep bench of global talent to grow the ways Bond can continue to deliver innovation and serve clients.”
Bond has expanded to become a global entity with more than 800 people in offices across North America and Europe serving clients across sectors as diverse as retail, mobility, healthcare, and financial services. Bond recently broadened operations in Europe; unveiled a new personalization platform – Synapze XI™ – and launched BondX, a full-service agency offering, led by Kirk Drummond, co-founder of Drumroll which Bond acquired in 2022. Last month, Bond veteran and client leader Morana Bakula was appointed president, the first woman to hold the senior post.
“Mountaingate is an ideal strategic partner to help Bond drive scale at this important juncture,” said Macdonald. “From our ‘both sides of the counter’ approach to brand experiences to leading edge technology platforms to a people-first culture, our strategy is delivering. We were purpose-built to create impact at every touchpoint of the customer journey and Mountaingate’s alignment with that vision is essential in attaining next-level growth for our clients, our people, and all the communities in which we operate.”
Hogan Lovells and Davies Ward Philips & Vineberg served as counsel to Mountaingate in the transaction. Houlihan Lokey, DLA Piper and Deloitte were advisors to Bond.
Mountaingate Capital is a Colorado-based, growth-focused private equity investment firm that partners with founders and entrepreneurial companies to accelerate growth and build industry leaders. Mountaingate’s focus on organic growth coupled with its customer-centric buy-and-build approach and shared equity ownership with management creates more value for the end customer while forging stronger, more collaborative, and more successful partnerships with management teams. Mountaingate invests in the marketing services, business services, specialty distribution, and specialty manufacturing sectors. For more information on Mountaingate, please visit www.mountaingate.com.
About Bond Bond generates growth for clients by creating enduring relationships between people and brands based on intelligent connections and engaging experiences. Guided by insights from advanced research and practical commercial application through the Bond Behavioral Institute and enabled by technology through its proprietary cloud Synapze platform, Bond serves clients globally with customer experience and loyalty solutions—enabling brands, customers, employees, partners, and the communities they serve to experience the benefits of growth. Headquartered in Toronto, Bond has more than 800 people and eight offices across North America and Europe. For more information, visit us at bondbl.com or follow us on LinkedIn, Twitter, and Instagram.
TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.
