Wix.com to acquire VC-backed Flok


Wix.com has agreed to acquire New York City-based Flok, a customer loyalty and engagement platform. No financial terms were disclosed. Flok’s backers included General Catalyst Partners and Gemini Israel Ventures. 

PRESS RELEASE

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.

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).

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