Israeli-International website builder startup WIX has acquired a creative and innovative Israeli agency, Gefen Team.
According to initial reports, the Gefen Team will work within the company as an advertising agency. All WIX creative activities will be entrusted to Gefen and his team, including Super Bowl ads, international activities and more.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.
According to market estimates, the acquisition is worth $ 10-15 million, which will be awarded to Gefen, which owns 100% of Gefen Tim.
The acquisition format reminiscent of New York-based Accenture’s takeover of the DROGA5 advertising agency. WIX, which believes in direct employment, also purchases Gefen Team and combines all of its workforces in the company.
In recent years, WIX has recruited creative people from Israel’s leading firms, and about 10-15 are expected to join the creative team led by Geffen.
Together with team WIX creative department will hold 30-40 employees.
About Gefen Team on Vimeo:
Gefen Team began working with WIX in 2017 and has worked on a project basis, by task and demand. During their joint work, Gefen Team produced with the WIX the superbowl “Kung Fu Panda”.
One of the reasons for the acquisition was the good relationship that was forged during this period between Gafen and Shai, vice president of marketing for WIX, and they managed to create a common language together, in which Shai sought to recruit Gefen not as an outside consultant but as his right hand and as a full member of the company.
Shai joined Wix’s management in 2008 and has since served as the company’s vice president of marketing. He is considered one of the dominant figures in the company whose responsibilities are wider than the marketing world.
In the past, Shai was a founding partner of Hyperactive and led the company’s marketing activities. He also served as an online consultant for leading brands.
Gefen Team was founded in 2013 and since then has worked with leading brands such as Coca-Cola, Soda Stream, Microsoft, Kimberly-Clark, Outbreak, Doritos and Wix. The agency is responsible, among other things, for the Diet Coke campaign, which featured 2 million bottles designed and Doritos’ towel campaign.
The value of the WIX is estimated at $ 7 billion, and accordingly the company has a marketing budget of about $350 million a year.
“We aim to become one of the 100 most powerful and loved brands in the world, “said Omer Shay, vice president of marketing for Wix. “We plan to achieve this goal by building creative departments within the company, with a deep understanding of our users’ products and needs,” said Shay.
“We make sure our users in different countries and industries know the tools they need to share their vision, communicate with their audience, and build their business. I am certain that with the addition of Gefen Team to our team, we have taken another significant step towards the goal. “
