Connect with us

Business

WP Engine Acquires Flywheel to Move to $1 Billion Valuation

mm

Published

on

Almost 34% of global websites are using WordPress, and one of the key companies, WP engine, is helping to handle the creation and management of some sites hosted by WordPress. WP Engine is a tech leader in the same business, and has acquired Flywheel, which is one of its small competitor. The deal amount has not been disclosed yet but the WP Engine’s CEO and Chairperson, Heather Burner said in an interview that the company is raising a small amount from its existing investors to finance the deal. There are many investors of WP Engine, including Silver Lake, which had added $250 million last year into the company’s finance.

Burner has refused to talk about WP Engine‘s valuation, but she told that the current annual recurring revenue of WP Engine is $132 million and Flywheel is at $18 million. Both the companies will work together to make $200 million ARR by 2020. That means the company will cross $1 billion mark of valuation.

WP Engine plays a powerhouse role in websites’ ecosystem and has numerous numbers of reviews, as it is the early mover in this business. WordPress started supporting it in 2011, and together they are now working on 120,000 brands and agencies in 150 countries. Word Engine mainly focuses on mid-market and large businesses, while Flywheel focused on smaller businesses. There would be more profit from the acquisition because both the companies are natural complements of each other.

WP Engine has made many acquisitions like this earlier as well and it has become a consolidator in the field. The company’s growth efforts will lead it to set a few more acquisitions in the future. Partners of WP Engine after WordPress and Flywheel are Amazon Web Services, Cloudflare, Google, HubSpot, and New Relic.

The idea of Bigtime Daily landed this engineer cum journalist from a multi-national company to the digital avenue. Matthew brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, he also contributes his expertise in business niche.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

The Digital Gambling in China and Asia is Booming Rapidly

mm

Published

on

The Guangdong Club at Costa Rica in China is a famous online gambling platform. Hundreds of sessions for popular games as baccarat and blackjack, lotteries, and sports betting are offered here. A game of barely 30 seconds easily ropes in betting volumes around 75,000 yuan ($10,500) at any single baccarat table. The gambling out here has a digital twist in it as it allows the Chinese to bet without traveling to Macau or Las Vegas.

Gambling is an on growing trend in China. It seems the transactions are draining hundreds of millions of yuan from the country. Moreover betting is also considered as a tool that pumps in social unrest. However, Chinese law is against gambling and prohibits it on the mainland. Even online gambling has a strict no from the law. The Chinese government has issued many regulations for online gambling like telecommunication fraud and citizens being lured to work illegally in the Philippines.

But still the Chinese bettors somehow do manage to flock in to the digital gaming halls thereby fueling growth in Asia’s online gambling sector. According to market researcher Technavio, this year the sale is expected to reach $24 billion. The Chinese government is finding it hard to stop websites registered and operated abroad.

Several virtual casinos are operated out of Cambodia as well as other places licensed in the Philippines by the Guangdong Club. They host especially in countries where gambling sites like decasinos.de catering to international players are permitted. Costa Rica which seems to be the head office of the club however does not have an industry regulator or laws banning online casinos that provide gambling services overseas.

According to the club’s website, the gamblers can deposit money and receive their winnings via accounts at several Chinese banks such as Bank of China Ltd and Industrial & Commercial Bank of China Ltd as well as a few others. Some platforms do allow the gamblers to use popular online payment systems from Tencent Holdings Ltd and Ant Financial Services Group.

In this tough fight to restrict gambling portals from overseas China has managed to gain support from its neighbors. Cambodia has assured of not issuing any new online gambling licenses and also promises that they won’t renew existing ones when they expire. Philippines will also stop accepting applications for new licenses for some time.

Continue Reading

Trending