Wave Accounting

Wave Accounting

December 02, 2011 11:38 ET

Wave Accounting Wins People's Choice at CIX

TORONTO, ONTARIO--(Marketwire - Dec. 2, 2011) - Capping a very successful and milestone-filled season, tech startup Wave Accounting won the People's Choice award at the Canadian Innovation Exchange (CIX) Top 20 event in Toronto last night.

"Innovation is a defining principle at Wave. The team works hard to build tools that solve problems in new ways, and our business model is definitely innovative in B2B software. So it means a lot to receive the People's Choice award from an audience of Canada's leading innovators," says Kirk Simpson, president and CEO of Wave.

Wave Accounting's 100% free accounting application is the fastest-growing online financial tool for small businesses (http://waveaccounting.com), signing up tens of thousands of customers each month. The CIX award follows recent accomplishments for Wave including: a $5 million Series A round led by Charles River Ventures with participation by OMERS Ventures; receiving the Deloitte Companies-to-Watch award; and invitations to present at prestigious events like the Under the Radar conference and the SWIFT/SIBOS conference.

The annual CIX Top 20 identifies Canada's most innovative companies working in Digital Media and Information and Communication Technology, as chosen by a panel of industry experts. CEOs of the 20 companies then participate in a one-day showcase, held this year at the MaRS Discovery District in Toronto.

For the People's Choice award, audience members at the event are provided virtual currency, with which they buy and sell virtual stocks in the 20 featured companies, whose share prices rise and fall accordingly over the course of the day. The company with the highest share price at the close of the presentations is named People's Choice.

With a share price of 21.96, Wave Accounting won the People's Choice award in the Information and Communication Technology category. Wattpad, a platform for exchanging stories online, led the Digital Media category with a price of 17.01.

"The CIX Top 20 is stacked with companies doing brilliant work, who prove that Canadian innovators can and do make a global impact," says Simpson.

About Wave Accounting

Based in Toronto, WaveAccounting.com is a free online accounting program for small businesses with 9 employees or less. Wave offers real, ridiculously easy accounting with unlimited invoicing and expense tracking, accountant-friendly tools and reports, personal finance and more-all completely free. Sign up at WaveAccounting.com.

About CIX

The Canadian Innovation Exchange (CIX) is the foremost destination for key leaders in the innovation economy to learn from one another, explore relationships, and accelerate the development of the ground-breaking technologies, products and services propelling the Canadian economy into the future. Visit CanadianInnovationExchange.com.

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