Investors are eager to cash in on a recent boom in Weebly’s website-creation services. The new round of funding valued Weebly of $455 million.
The early days of the Web only evolved around internet-publishing tools until GeoCities and Anglefire offered free sites where easy-to-use publishing tools are available. Weebly together with other newer generation of websites like Squarespace and Wix are now using the drag-and-drop tools. This new tools don’t require coding chops and are harnessed toward the vast number of small businesses crowding in the Web to get their first online storefronts.
In 2006, three Penn State Students founded Weebly. It now hosting 20 million sites that are being visited by 175 million visitors every month. Most clients are entrepreneurs who pay monthly fees for extra features to Weebly such as e-commerce. They got Ceasar Chu as their client. He invented the Whiskey Ball or the ice-cube mold and through a distribution partnership with Amazon.com, his business expanded.
The said funds will be used in expanding Weebly globally and to compete with several big rivals.
David Wallerstein, chairman of Tencent USA said in an email statement “The Internet is changing the future of business and entrepreneurship. Weebly is driving this transition to a mobile-driven e-commerce world with a platform that is just so simple and intuitive to use.”
The fast growing U.S startups caused the Tencent portfolio expansion. This Chinese company has backed mobile-messaging app Snapchat, e-commerce site Fab and mobile game maker Plain Vanilla.
Weebly is one of the most important startups. Many investors see the great potential of the site and would probably grow in the up coming years. The company doesn’t reveal its revenue but since 2009 there is an obvious cash-flow for the company.