Battle for website building and ecommerce platform supremacy is heating up.
Payments company Square (NYSE: SQ) is acquiring website building company Weebly, the company announced this afternoon. The $365 million cash and stock deal is expected to close by the end of the quarter.
One of Weebly’s largest competitors, Wix (NASDAQ: WIX), has a market cap of $4 billion. E-commerce platform Shopify (NYSE: SHOP) has a market cap of over $12 billion.
Weebly has generally been seen is the third player in the non-WordPress site builder market behind Wix and SquareSpace (no relation to Square).
Over the past year it has significantly enhanced its ecommerce capabilities as the market has moved in that direction.
Yesterday BigCommerce, a Shopify competitor based in Austin, announced a $64 million funding round led by Goldman Sachs.