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Acquisition will provide Wix eCommerce merchants with native customer re-engagement tools for building long-term customer value
NEW YORK, May 5, 2021 /PRNewswire/ -- Wix (Nasdaq: WIX), a leading global SaaS platform to create, manage and grow an online presence, today announced the acquisition of Rise.ai, the gift card and customer re-engagement solution for online brands. The acquisition will extend the Wix eCommerce platform, providing a full solution for merchants to manage customer re-engagement activities aimed at increasing customer spending and repurchases, including gift cards, loyalty programs, rewards and referrals.
The Wix eCommerce platform powers businesses of all types, including online stores, service providers, restaurants, events and many more. It provides merchants with a full solution to create, manage and grow their eCommerce business to sell online and in person. Using Wix, merchants can sell through multiple sales channels including web and mobile storefronts, social media, online marketplaces and physical retail locations, as well as manage and track inventory, orders and fulfillment to payment and brand marketing.
In 2020, Wix users processed over $5.4 billion in online transactions on the Wix platform, an increase of 126% over 2019. In addition, Wix eCommerce merchants saw an increase of 140% year over year growth in sales transactions in 2020 compared to 2019.
The acquisition of Rise.ai will provide Wix eCommerce merchants with its own fully native customer re-engagement solution. Wix eCommerce merchants will be able to easily access the full suite of tools for their Wix eCommerce stores. These tools will significantly help them grow long-term customer value by increasing customer retention through loyalty programs. Strong customer re-engagement tools help increase order frequency, grow AOV (Average Order Value), drive repeat sales and build customer relationships by providing value throughout the customer journey.
"We are excited to expand our offering and services as part of the Wix eCommerce strategy," said Arik Perez, Head of Wix eCommerce. "By providing merchants with more native tools, we can help them grow long-term customer value and revenues to build their businesses and keep optimizing and increasing profitability. Rise.ai is considered to be the best solution of its kind in the market, and the integration will enable merchants to easily manage and maintain customer engagement tools, ultimately leading to increased loyalty and revenue."
"Customer retention has become the top priority for eCommerce brands worldwide, as acquisition costs continue to spike," said Yair Miron, founder and CEO of Rise.ai. "Since our founding, we have powered tens of thousands of leading brands with loyalty and re-engagement solutions to grow their businesses. We are now thrilled to join Wix and bring Rise.ai to hundreds of thousands of online stores around the globe and help them rise."
As one the most requested features by Wix eCommerce merchants, the Rise.ai solution will support Wix merchants in all supported countries and currencies.
About Wix.com, Ltd
Wix is leading the way with a cloud-based website development platform for over 200 million registered users worldwide today. The Wix website builder 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, artists, and individuals to take their businesses, brands and workflow online. The Wix Editor, Wix ADI, Editor X, a curated App Market, Ascend by Wix and Velo by Wix enable users to build and manage a fully integrated and dynamic digital presence. Wix's headquarters are in Tel Aviv with offices in Austin, Be'er Sheva, Berlin, Cedar Rapids, Denver, Dnipro, Dublin, Kiev, Los Angeles, Miami, New York, Phoenix, San Francisco, São Paulo, Tokyo and Vilnius.
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Rise.ai is the gift card and store credit solution for eCommerce brands, designed to manage the entire re-engagement cycle with gift cards, loyalty cards, rewards, and refunds. Rise is trusted by the world's biggest D2C platforms, eCommerce agencies and brands.
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SOURCE Wix.com Ltd.