Block acquires Weebly, Inc.

Block acquired Weebly, Inc. for $272.5 million total consideration ($132.4 million cash plus 2,418,271 Class A shares valued at $140.1 million), a transaction completed in May 2018, structured as combination.

Weebly, Inc. operates in Square (Seller) ecosystem - online presence and e-commerce, is based in United States (San Francisco-based); global customer base, had revenue of about Millions of customers and more than 625,000 paid subscribers at acquisition (revenue not separately disclosed). Weebly is a technology company that offers customers website hosting and domain name registration solutions, giving sellers tools to build a professional website or online store with integrated shipping, inventory management, and marketing. At the time of acquisition Weebly had millions of customers and more than 625,000 paid subscribers.

Square stated the acquisition enables the Company to combine Weebly's web presence tools with the Company's in-person and online offerings to create a cohesive solution for sellers to start or grow an omnichannel business; it expanded the Company's customer base globally and added a new recurring revenue stream.

Weebly added recurring subscription revenue and a globally distributed base of small-business website customers complementary to Square's seller tools. Combine Weebly's web presence tools with Square's in-person and online offerings into a cohesive omnichannel solution for sellers. Folded into Square's Seller ecosystem as part of the Company's commerce offering (Weebly customers can sell in-person via Square).

Advisory firms were not disclosed for this transaction.