Israeli web site building company Wix.com Ltd. (Nasdaq: Wix) has entered into an agreement to acquire flok, a customer relations and engagement (CRM) platform. The purchase price has not yet been revealed.
The move comes just days after Wix released a new Super Bowl ad featuring the new Wonder Woman, Israeli actress Gal Gadot.
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flok explains that its solutions are designed to “increase customer value, generate organic referrals and boost small and medium businesses’ online presence and reputation.”
Wix said that the acquisition is intended to supports its strategic plan to further increase its portfolio of business technology solutions in order to give small and medium businesses easy ways to engage and reward their customers.
The move makes sense since nowadays businesses depend on reliable CRM systems in order to keep tabs on their customers and consumer bases. And more and more, companies like Wix are choosing to keep things in house, rather than outsource work related to their costumers’ private information. This cuts down on the chances of hacking, while also allowing it to offer additional services to its customers.
The latter is an example of how all companies need to evolve and to diversify by offering new services to their consumers.
“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 launched Wix ADI, the first AI solution for website design and creation. 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.”
Wix.com is a cloud-based web development platform with more than 98 million registered users worldwide. The company offers free and premium subscriptions and boasts that it empowers millions of businesses, organizations, professionals and individuals to take their businesses, brands and workflow online. Its headquarters are in Tel Aviv with offices in Be’er Sheva, San Francisco, New York, Miami, Berlin, Vilnius and Dnepropetrovsk.
flok states that its marketing platform facilitates interactive conversations, loyalty rewards, automated engagement workflows and unique mobile purchase experiences.
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).