Weebly has a substantial amount of subscribers at 625,000. Merchant payment processor Square acquired Weebly for $365 million. Square intends on global expansion via this acquisition. A great portion of Weebly users lie outside of the United States, allowing Square to address a bigger audience of entrepreneurs. Revenues are expected to rise from $744 MM to $764 MM. The team members are also included in the merger. Most of the team from Weebly will be joining forces with the Square team.
The merger occurred during late April 2018. The merger is slated to help businesses all over the world. The services of both companies will line up well together. The CFO of Square stated that she feels both companies are culturally aligned. Backers of the acquisition include Floodgate, Sequoia Capital, Tencent, Felicis Ventures, and Y Combinator.
You can buy and sell Bitcoin using the Square mobile app. This feature alone will likely result in the continuation of stock price increase, the stock has steadily rose in value since the merger. Square will continue on the path of cryptocurrencies by expanding its compatibilities with other cryptocurrencies.
Square and Weebly will go hand in hand. Startups are in need of both services; all businesses need a sharply-designed website capable of taking payments. Weebly is the competitor of Wordpress, Medium, and, Squarespace. The website building tools offered by Weebly are incredibly easy to use. The merger will mainly benefit small businesses and e-commerce stores that are looking to get set up quickly to initiate business sooner than later.
Weebly + Square