Weebly, an website builder that allows users to create custom sites with drag-and-drop tools, has been acquired by Square, the company announced Thursday.
The all-cash deal is valued at $365 million, and Weebly will continue to operate as a standalone business under its current leadership team, the companies said. Square said it plans to invest in Weebly’s growth and will look for opportunities to integrate its products.
Founded in 2006, Weebly has long been one of the simplest ways to create a website. The company says it now has more than 40 million customers in over 175 countries.
While Square is best known for its point-of-sale software and credit card reader, the company has been expanding its reach into other areas of small business services in recent years. In addition to its e-commerce offerings, Square now provides loans, payroll and marketing services to its customers.
The acquisition of Weebly gives Square another avenue for growth as it looks to become a one-stop shop for businesses. And with Weebly’s international reach, it could also help Square expand its footprint outside the U.S.
Did Square Buy Out Weebly?
The answer is yes, Square did acquire Weebly in an all cash deal worth $365 million dollars. This means that Weebly will continue to operate as a standalone business under its current leadership team. square stated that they plans to invest in Weebly’s growth and will look for opportunities to integrate its products.
