Square Buys Weebly, May Bring Mobile Payments to More Websites
Square isn’t one of those companies you hear a lot about, which is actually kind of odd. It was one of the biggest names in mobile payments before Apple Pay even really got involved, allowing companies of all sizes to more readily take credit cards. Now, the company staged a recent expansion effort in which it bought Weebly, a web design and hosting service that demonstrates Square’s commitment to “omnichannel commerce.”
The deal, reports note, was valued at a hefty $365 million, which gives Square not only access to the current subscriber revenue that Weebly’s bringing in, but also better access to a means to offer its services directly to the website builders. Square isn’t just about card readers, of course; it’s also about payments services and related software, which might just go well with websites being built today.
Square’s Alyssa Henry noted “Omnichannel commerce is our top focus area in 2018. From managing orders, appointments, and payments to building a website, running a business is complex, and entrepreneurs around the world want powerful and intuitive tools. With Square and Weebly, sellers will have one cohesive solution to build their business.”
Some here might be concerned that Square is perhaps overspending; after all, just a week ago it picked up Zesty to bolster its Caviar operations. It’s also picked up OrderAhead on that same front, which means that so far, Square has bought more companies in just the first four months of 2018 than it had in any year since it started.
Given that about 40 percent of Weebly’s 625,000 paid subscribers are outside the US, though, this could give Square a push into global markets. That’s especially so in markets where Square is already operating, like Australia, Canada, and Japan, where Weebly also has a significant presence.
It’s hard to accuse Square of profligacy when it’s picked up an income-generating property that could dovetail reasonably well into its current operations and give it a potential leg up on expansion efforts. Only time will tell, of course, just where it all goes, but for right now, Square may have picked up a real winner amid all the stuff it’s bought lately.