Add-On

In the computer technology industry, an add-on is a software extension that expands the capabilities of a program. For instance, WordPress plug-ins are a type of add-on that web development companies use to efficiently add new functionalities to a userʻs website such as automatic backups, anti-spam protections, and preformatted website themes and widgets. In the financial industry, an add-on is additional shares of company stock issued by a corporation in order to accrue large sums of money. Add-ons are a crucial part of equity financing, a financial technique companies use to raise capital which involves selling shares of a publicly traded company. In sales, an add-on is a product or service sold to a buyer in addition to their original purchase. Salespeople typically offer add-ons to customers that are already planning on making a purchase to increase the customerʻs final purchase price.