Wix.com to Acquire flok to Provide Enhanced CRM Technology for Businesses

NEW YORK, Jan. 19, 2017 /PRNewswire/ -- Wix.com Ltd. (Nasdaq: Wix) today announced it has entered into an agreement to acquire flok, a customer loyalty and engagement platform. flok's solutions are designed to increase customer value, generate organic referrals and boost small and medium businesses' online presence and reputation. The move supports Wix's strategic plan to further increase its portfolio of business technology solutions to give small and medium businesses easy ways to engage and reward their customers.

"flok is an impressive, fast-growing company with an outstanding team and a deep understanding of mobile CRM development," said Nir Zohar, President and COO at Wix. "Their product expertise and intimate knowledge of the local business sector will notably complement our strategy of providing SMBs with the tools they need to grow their business – from creating a stunning website to engaging in meaningful customer interactions."

Over the past year, Wix has significantly enhanced its commerce offerings for ecommerce and physical retailers to make designing, managing and marketing a business as simple and effective as possible. In April it launched Wix ADI, the first-ever AI solution for website design and creation. In October, Wix introduced the Wix App to let users fully manage their websites and Wix operating systems on the go, wherever they are, in order to run their businesses in real time. Earlier this month, Wix announced an integration with Square to provide merchants and entrepreneurs in North America a new way to accept online and in-person credit card payments.

"We founded flok with the goal of helping real world business effectively use digital and mobile to increase customer loyalty," said Ido Gaver, Co-founder and CEO of flok. "By becoming a part of the Wix team we can take our technology to new heights and do even more to empower business owners."

Terms of the acquisition were not disclosed. The acquisition is not expected to have a material impact on Wix's non-GAAP operating results.

About Wix.com

Wix.com is a leading cloud-based web development platform with more than 98 million registered users worldwide. Wix was founded on the belief that the Internet should be accessible to everyone to develop, create and contribute. Through free and premium subscriptions, Wix empowers millions of businesses, organizations, professionals and individuals to take their businesses, brands and workflow online. Wix ADI, the Wix Editor and a highly curated App Market enable users to build and manage a fully integrated and dynamic digital presence. Wix's headquarters are in Tel Aviv with offices in Be'er Sheva, San Francisco, New York, Miami, Berlin, Vilnius and Dnepropetrovsk.

Visit us: on our blog, Facebook, Twitter, Instagram, LinkedIn, Pinterest and Google+.

Download: Wix App for free in Google Play and in the App Store.

About flok

flok connects merchants and their customers, powering lasting and rewarding relationships. With thousands of businesses signed up to its platform across the U.S., flok's marketing platform facilitates interactive conversations, loyalty rewards, automated engagement workflows and unique mobile purchase experiences. Plans start at $19 a month, making flok an extremely affordable customer engagement solution that does not require any on-site hardware installation.

Based in New York City, with offices in Tel-Aviv, flok was founded by Eran Kirshenboim and Ido Gaver and is backed by top-tier venture firms including General Catalyst Partners (Warby Parker, Snapchat) and Gemini Israel Ventures (PrimeSense, Outbrain, Moovit).

Forward-Looking Statement

This press release contains forward-looking statements, within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, that involve risks and uncertainties. Such forward-looking statements may include projections regarding our future performance and may be identified by words like "anticipate," "assume," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "future," "will," "seek" and similar terms or phrases. The forward-looking statements contained in this press release are based on management's current expectations, which are subject to uncertainty, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Important factors that could cause our actual results or actions to differ materially from those indicated in the forward-looking statements include, among others, our ability to grow our user base and premium subscriptions; our ability to maintain and enhance our brand and reputation; our ability to manage the growth of our infrastructure effectively; changes to technologies used in our solutions or in global, national, regional or local economic, business, competitive, market, regulatory and other factors discussed under the heading "Risk Factors" in our annual report on Form 20-F for the year ended December 31, 2013 filed with the Securities and Exchange Commission on March 20, 2014. Any forward-looking statement made by us in this press release speaks only as of the date hereof. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.

All Trademarks are the Property of their Respective Owners

 

Investor Relations:
Ryan Gee
[email protected] 
415-223-2610

Media Relations:
Vivian Hernandez
[email protected] 
415-517-6539

 

SOURCE Wix.com Ltd.