The WebSite URL is the address the user will login to WebEdit. On most servers this URL is detected automatically on installing.
If you install WebEdit and later decide to move it to another folder in the same server, you will be changing the WebEdit URL to point to the new URL.
The usual value for WebSite URL is:
http://www.yourwebsite.com/webedit
where
www.yourwebsite.com is your website address
/webedit is the folder where WebEdit is installed

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