Square Invests in Website Building with Weebly Acquisition
On Thursday 26th April 2018, the Square company announced a contract to purchase the Weebly for $365 million, a company which is a website builder. The agreement between the two will allow both small and medium business customers to use the Weebly and Square companies to build online stores and websites easily. The acquisition is a combination of stocks and cash. Approximately $365 million which would include Square’s restricted shares for the Weebly’s employees and founders.
All About Square, Inc. & Weebly
The Square was established in 2009. Square is headquartered in San Francisco, but it has offices in Canada, United States, Ireland, Japan, Australia, and the UK. The company creates tools to enable vendors to start off, grow, and run businesses. For instance, the firm allows sellers to accept credit cards payments, provide next-day statements, reporting and analytics, and chargeback protection. Additionally, it develops point-of-sale software and additional business services that help entrepreneurs to manage locations, employees, and inventories. Also to engage customers, access finances, and in growing sales.
Weebly also has its headquarters in San Fransisco. They provide clients with the tools to build smoothly professional websites and online stores. With Square company acquiring Weebly, it will gain access to Weebly’s paid subscribers and millions of customers and allow sellers to start and grow businesses having a single solution. The agreement should close in the 2018’s second quarter.
Today, sellers can reach to buyers when they are moving between channels. For instance, in apps, in-person, or online, and when making purchases, returns, and exchanges. Square and Weebly integration will make important business tasks, such as engaging with customers, growing sales, managing orders, simpler than ever for the sellers.
According to Jack Dorsey, CEO of Square, Weebly and Square have been sharing a passion for celebrating and empowering entrepreneurs. Additionally, he stated that Square began the journey of developing clients through the in-person solutions. Weebly initiated its programs via online and since then, they have been growing services to bridge the two services.
The Future of Square and Weebly
The Seller Lead at Square, Alyssa Henry, stated that their primary objective in 2018 is to create excellent Omnichannel commerce for the customers. From managing orders, payments, and appointment to building websites, the entrepreneurs all over the world are looking for powerful and intuitive ways to run their businesses. According to Alyssa, Weebly and Square partnership will assist all of their users. Whether an artist, a hairdresser or a baker to get a great solution in building their businesses.
Weebly will help to expand Squares customers globally by adding a recurring stream of revenue. Square will allow Weebly clients to access the company’s managed hardware, software, and payments. This is a great match for the services in Weebly. Their services include free website hosting, online store, premium website hosting and design, and marketing tools.