PayPal acquired Swedish fintech company iZettle for $2.2 billion in May 2018 in order to expand into new markets in Europe and Latin America and compete more directly with Square. Square similarly made an acquisition that same month, purchasing website builder Weebly for $365 million in order to expand its e-commerce offerings and services for small businesses into the growing online sales space. Both acquisitions aimed to provide more complete omnichannel services and payment solutions for merchants through these expansions.