Tencent will make a loss when it exits website building software developer Weebly, valued at $455m three years ago, through an acquisition by Square.
Weebly, a US-based website creation platform backed by internet company Tencent, agreed yesterday to an acquisition by payment processing firm Square for approximately $365m.
Square will pay in a mix of cash and shares, including restricted stock units for Weebly’s founders and employees that will vest over four years following the deal’s close, expected to take place in the second quarter of 2018.
Founded in 2007, Weebly operates an online platform enabling users to build and host websites and e-commerce stores.
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