Wix acquiring the Israeli start-up company Rise.ai - The scope of the deal is unknown

Wix has announced that it is acquiring the Israeli start-up company Rise.ai in order to integrate it into its online trading activities. Both companies refused to provide information on the scope of the deal.
Rise.ai, which has raised only half a million dollars over the years, is developing technology that allows businesses to embed on their website or app a kind of digital wallet where the customer can manage his account. He can recharge money into it, using credit or a gift card, which will be used only for the same store. The idea is to enable businesses to generate direct communication with customers, and also get them to increase their purchases. For example, a particular store may see that a loyal customer has stopped shopping at the store, offering him $ 20 for the next purchase.
"We are in a period where the cost of acquiring customers is only rising and rising," explains Meron. "This is because of the increase in advertising costs, and because more stores are starting to sell directly to consumers and competing with customers. So stores understand that there is value in returning their customers. The company also offers its customers the wallet management technology itself, including accounting aspects. The customer base and making suggestions on how to increase its sales. "
Weeks, which is traded today at a value of $ 16 billion, holds significant activity from online trading sites, which gained momentum in the corona year. According to data presented by the company, during 2020, Wix users eliminated more than $ 5.4 billion in online transactions made through its platform - an increase of 126% compared to 2019. They added that business owners using Wix eCommerce enjoyed a 140% increase in their annual sales in 2020.