Wix Buys Second.Me For $10M To Add Social Advertising To Its Web site Constructing Platform
Second.me began life as an app that permit customers create albums aggregated from footage and different media posted on social networks, earlier than shifting away from that final yr to launch a brand new service constructing cellular web sites for occasions and one other advertising software for social lead era. Immediately, the corporate is getting acquired in what appears like a play for a few of these newer strains of enterprise: cellular web site builder Wix, which went public in 2013, is shopping for Second.me, for a worth of $10 million, based on sources.
It’s not a blockbuster exit. Second.me had raised a minimum of $three.2 million from buyers that included Blumberg Capital and Singtel.
Second.me confirmed the sale in a discover on its homepage, the place it additionally famous that it might be closing down all of its providers apart from Leads, the social advertising lead era service.
“As a result of our acquisition by Wix, the next providers might be discontinued beginning April thirtieth – Second.me private, Second.me for Occasions, Second.me Locations, Second.me Social Feeds and Second.me Location Based mostly feeds,” it wrote. “Our LEADS service will maintain going robust, accepting new customers and supporting present ones. Fortunately we share the identical core values because the group at Wix, so you possibly can anticipate to hold on receiving wonderful providers very quickly.”
Wix and Second.me have truly been working collectively for some time, particularly on an integration to let companies create occasion microsites. In different phrases, if merchandise resembling these proceed, they’re more likely to be rebranded or repackaed as a part of Wix’s greater platform.
For Wix, it will assist the corporate transfer away from primary web site constructing and assist it upsell extra worth-added providers on prime of this, not in contrast to what GoDaddy has executed by shifting into small enterprise providers alongside primary area registration and internet hosting.
Wix, traded on the Nasdaq, presently has a market cap of round $733 million. Second.me is its third acquisition, after restaurant web site builder OpenRest and cellular-first web site constructing Appixia.