The PasswordBox story is a significant milestone in the development of the Montreal tech sector. If Wajam’s bet pays off, the intersection of mobile marketing and social media culture will be a very sweet spot to have been fishing in.Īt the same time as PasswordBox’s acquisition represents a validation of Martin-Luc’s investment acumen, it’s also a statement of faith by a multinational corporation, Intel, in Montreal’s tech scene, seeing as they will effectively double the size of PasswordBox’s work force while leaving the management team largely intact to develop their solution on a global scale. Trading on the idea that people are more likely to trust endorsements from friends and people they recognize, the company is poised to capitalize on its already impressive metrics while it builds out the next phase of that idea by building a database that can be accessed by third parties, through a complementary company called SPOTR, which Martin-Luc will also run. With Wajam, Martin-Luc has staked out a strong presence in the social marketing space.
Meanwhile, he’s also invested in plenty of less well-known companies, more than 20 in all, such as Anomalous Networks (acquired by Tangoe), VarageSale, Playerize, ViralNinjas (merged with Sociable Labs), Minitrade, SmartReno, as well as having bought the. Wajam CEO Martin-Luc Archambault has become one of the Montreal tech ecosystem’s mainstays over the last few years, investing in early stage companies before they became big, such as PasswordBox, who were recently acquired to great fanfare by Intel Security, and Frank & Oak.
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