Weebly was acquired by Square in 2018, a company founded by Jack Dorsey, who is also the co-founder of Twitter.
Square acquired Weebly for $445 million in cash, and the acquisition was completed in October 2018.
The acquisition was a strategic move for Square, which aimed to expand its e-commerce offerings and provide more tools for small businesses to sell online.
Weebly's website builder and e-commerce platform were integrated into Square's existing products, allowing customers to create and manage their online stores more easily.
The acquisition also brought Weebly's user base and expertise to Square, enabling the company to offer more comprehensive solutions for online sales and marketing.
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Weebly Acquisition
Square, a fintech company, acquired Weebly, a website builder, for $365 million in cash and stock. This deal was announced in 2018.
Weebly was founded in 2007 and raised a total of $35.7 million from investors like Y Combinator, Sequoia Capital, and Tencent Holdings.
The acquisition gave Square a large customer base, with over 625,000 paying subscribers, 40 percent of which are outside the US.
Square's CEO, Jack Dorsey, stated that the acquisition would serve as a "bridge" between Square's in-person solutions and Weebly's online presence.
The deal was a cash-and-stock deal, which helped small businesses use both Weebly and Square to develop websites and online stores easily.
Weebly is a website-building company similar to WordPress or Squarespace.
The acquisition added a new recurring revenue stream to Square's business and helped accelerate its global expansion.
Here's a brief overview of the acquisition:
The acquisition was part of Square's strategy to expand its footprint in the fintech world and create more avenues for acquiring customers.
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