According to recent reports, Wix is currently working on stepping up its game, by acquiring numerous companies, meant to offer existing clients more services to take advantage of.
With this in mind, Wix has recently acquired DevianArt, which is an online community created for artists and design enthusiasts from all around the world. At this moment in time, DevianArt has around 325 million pieces of original art, alongside with over 40 million registered users.
If our reports are correct, then the purchase price paid by Wix for DevianArt was of $36 million in cash, alongside with assuming a total of $3 million-worth of liabilities.
For those who do not know, since it was founded in 2000, DevianArt managed to raise a total of $13.5 million from backers, and individual investors, yet its actual worth prior to the sale remains unknown. Regardless of this, the fact that the massive growth of DevianArt mostly came from word of mouth, rather than from investments made in marketing or advertising, make it a great, organic source, for high-quality art, from aspiring artists from all around the world.
Wix has recently stated that DevianArt will be operated as a standalone site in the future, yet it will also be used to boost the services being offered by Wix in the future, and in numerous ways. Reports indicate that DevianArt users will get access to the Wix web design tools, which they can use in order to build better online presence. The tools will not only cover design, but rather also commerce, and a couple of other features needed for running a business on the internet.
Based on everything that has been outlined so far, we’re likely to see a couple of more features being rolled out for DevianArt, thanks to the purchase by Wix. What do you personally think about this transaction? Let us know your thoughts in the comment section below.