NEW YORK, June 15, 2021 /PRNewswire/
-- Wix (Nasdaq: WIX), a leading global SaaS platform to
create, manage and grow an online presence, today announced the
acquisition of Modalyst, a leading marketplace and dropshipping
platform. The acquisition will continue extending the Wix eCommerce
platform and contribute to the success of businesses on Wix,
connecting Wix merchants to a vast supplier marketplace where they
can create lasting, scalable relationships and source millions of
high-quality products synced directly to their store to sell and
fulfill online.
As frequency for online shopping has increased, the importance
for merchants to expand their inventory and efficiently fulfill
orders is crucial to managing and growing an eCommerce business
today. Dropshipping marketplaces have been a game-changer for both
suppliers and retailers and is evident in the success of the
existing partnership between Wix and Modalyst through the Wix App
Market. On average, Wix Stores that
add dropshipping products increase AOV (Average Order Value) by 40%
and sales revenues by 79% within the first four months.
With the acquisition of Modalyst, Wix business owners can
seamlessly connect their online store to an established marketplace
of thousands of suppliers, manufacturers and wholesalers where they
have access to products spanning name brands, trending items and
independent labels with the option to white-label products with
their own branding. Merchants then import the products directly to
their online store, including details and image options from the
supplier, which continually update with the suppliers' pricing and
inventory. When a purchase is placed, orders are packaged and
fulfilled by the supplier and can be fully branded for a full
white-label solution. The merchant receives tracking numbers and is
updated on the fulfillment status of each order via their Wix
dashboard.
"We're proud to welcome Modalyst to expand the infrastructure of
Wix eCommerce," said Arik Perez,
Head of Wix eCommerce. "Connecting merchants directly to a full
supplier hub allows them to expand their own product offering and
helps new businesses establish themselves by connecting with vetted
suppliers with access to private labels and dropshipping. This
offers merchants a convenient way to sell a large variety of
products, test new and trending markets and ultimately expand their
reach. Merchants can significantly scale their businesses and in
providing them with a native solution, we can help them continue to
maximize their store footprint, all in one place from the Wix
platform."
The Wix eCommerce platform powers businesses of all types,
including online stores, service providers, restaurants, fitness,
events and more. It provides merchants with a full omnichannel
solution to create, manage and grow their eCommerce business to
sell online and offline. Using Wix, merchants can sell through
multiple sales channels including web and mobile storefronts,
Wix Point of Sale, social media,
online marketplaces, as well as manage and track inventory, orders
and fulfillment to payment and brand marketing.
"As a dedicated partner of Wix, we're thrilled to officially
join the team and continue our vision to help merchants grow their
stores," said Jill Sherman, CEO of
Modalyst. "Our solution reduces the hassle for merchants to manage
inventory, fulfill and ship on their own, while ensuring they are
connected with reliable, vetted suppliers who will provide high
quality products. This empowers businesses to truly invest in their
brand, community and broader strategic goals. We look forward to
helping take Wix eCommerce to new heights."
Modalyst was founded in 2012 by Jill
Sherman and Alain Miguel,
both of whom will join Wix. Modalyst has been one of the most
successful eCommerce applications in the Wix App Market and is a
portfolio company of Wix Capital, a fund dedicated to investments
in early stage companies that share Wix's vision of technology,
innovation and development shaping the future of the web.
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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available for free on Google Play and in the App Store.
For more about Wix please visit our Press Room
Media Relations Contact:
PR@wix.com
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SOURCE Wix.com Ltd.