WordPress is offering its services to almost 34% of global websites and WP Engine is helping website owners to handle and manage their WordPress hosted websites. WP Engine is the tech leader in the hosting business and recently acquired Flywheel which is remained its respectful competitor.
WP Engine has not disclosed the financial details of the acquisition but its CEO and Chairperson said in an interview that the company has taken help of its financers to finance the deal. The investors of the WP Engines includes Silver Lake which has helped the company to raise its revenue $250 million more in the last year.
Burner has not said anything about WP Engine’s valuation, but she noted that the current annual recurring revenue of WP Engine is $132 million and Flywheel is at $18 million. Both the companies are aimed to make $220 million APR by the end of 2020. In another way, one can say WP Engine is expecting to cross $1 billion marks of evaluation.
WP Engine has a reputation in websites’ ecosystem and it is the early mover in this business. WordPress has started taking its services in 2011 and now the duo is working on 120,000 brands and agencies in 150 countries. Aim of WP Engine is on mid-market and large businesses while Flywheel is focused on small businesses and agencies. Both would compliment each other’s desires.
This is not the first acquisition of the WP Engine, earlier it has become a consolidator in the field. The company’s growth would help it to carry a few more acquisitions in the future. After WordPress and Flywheel, the company has many other partners including, Amazon Web Services, Cloudflare, Google, HubSpot, and New Relic.
About the Author
