Wix.com

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Wix.com, Inc.
Type Public
Traded as NASDAQWIX
Founded 2006 (2006)
Founder(s) Avishai Abrahami
Nadav Abrahami
Giora Kaplan
Headquarters Tel Aviv, Israel
Number of locations San Francisco, New York City, Dnipropetrovsk, Vilnius
Services Website builder, Web hosting service
Revenue $80.47 million (2013)
Total assets $115.35 million (2013)
Employees 550
Website www.wix.com
Wix.com's headquarters in Tel Aviv Port
Aerial view of Wix.com's headquarters in Tel Aviv Port

Wix.com is a cloud-based web development platform that allows users to create HTML5 websites and mobile sites, through the use of their online drag and drop tools.[1] Users can add functionalities such as social plug-ins, eCommerce, contact forms, email marketing, and community forums to their websites using a variety of Wix-developed and third-party applications.[2]

Wix is built on a freemium business model, earning its revenues through premium upgrades. Users must purchase premium packages in order to connect their sites to their own domains, remove Wix ads, add e-commerce capabilities, buy extra data storage and bandwidth and more.[3]

History[edit]

Wix was founded in 2006 by Avishai Abrahami, Nadav Abrahami and Giora Kaplan. The company, headquartered in Tel Aviv, with offices in San Francisco, New York City, Dnipropetrovsk, and Vilnius, is backed by investors Insight Venture Partners, Mangrove Capital Partners, Bessemer Venture Partners and Benchmark Capital.[4][5]

It entered an open beta phase in 2007 using a platform based on Adobe Flash.[6]

By April 2010 Wix had 3.5 million users and raised $10 million in Series C funding provided by Benchmark Capital and existing investors Bessemer Venture Partners and Mangrove Capital Partners.[7] A year later, in March 2011, Wix had 8.5 million users and raised $40 million in Series D funding, bring its total funding to date to $61 million.[8]

Move to HTML5[edit]

In March 2012, Wix launched a new HTML5 site builder, replacing the Adobe Flash technology; existing sites built in Flash were still supported, but all new customers were directed to the new HTML5 platform.[9]

In February 2013, Wix reported that the move to HTML5 was highly successful, helping to attract 25 million users and generating annual revenues of $60 million in 2012.[10][not in citation given]

As of August 2013, the Wix platform is being used by over 35 million Internet users to create their online presence.[11]

IPO on NASDAQ[edit]

On 5 November 2013, Wix had an initial public offering on NASDAQ, raising about $127 million for the company and some share holders.[12]

Features[edit]

Wix provides hundreds of website templates and a drag and drop HTML5 website builder which includes apps, graphics, image galleries, fonts and more. Everything on Wix’ website-templates is customizable so users can choose function, style, color, text, background, buttons that match their needs [13] or opt to create their websites from scratch. In October, 2013 Wix introduced its own Mobile Editor. The editor lets users easily adjust their Wix-driven sites to mobile viewing.[14]

App Market[edit]

On October 2012, Wix launched an app market for selling of third-party applications built with the company's automated Web development technology. Wix’s software development kit lets app developers create and offer web apps to Wix’ millions of users around the globe.[15] Wix App Market offers both free and subscription-based applications, with a revenue split of 70 percent for the developer and 30 percent for Wix.[16]

The App Market enables customers to integrate third-party applications into their own websites and includes solutions, such as: photo feeds, blogging, music playlists, online community, e-mail marketing, and file management.[17]

The App Market offers applications from providers such as Google, Instagram, LiveChat and Shopify.[18]

See also[edit]

References[edit]

  1. ^ Zukerman, Erez (9 April 2012). "Create a Website Easily With Wix". PCWorld. Retrieved 2014-01-17. 
  2. ^ "Now At 25M Users, Wix Brings Third-Party Apps To Its Website Builder With New Marketplace". TechCrunch. 16 October 2012. Retrieved 2014-01-17. 
  3. ^ "New options for building a free website". MSN. 23 July 2013. Retrieved 29 July 2013. 
  4. ^ "Wix.com". LinkedIn. Retrieved 12 November 2012. 
  5. ^ Vidra, Eze (28 March 2011). "Israeli startup Wix Raises $40 Million, Wants to Become a Large Company in Israel". VC Cafe. Retrieved 2014-01-17. 
  6. ^ McCarthy, Caroline (13 October 2008). "Site creator Wix announces funding, subscriptions". CNET. Retrieved 2014-01-17. 
  7. ^ Investment of $10 Million Raised by Wix for Promotion of Flash Website Software, (PRWEB) April 2, 2010
  8. ^ Israeli startup Wix Raises $40 Million, Wants to Become a Large Company in Israel, Eze Vidra, VCCafe; March 28, 2011
  9. ^ Wix launches a brand new HTML5 site builder as Flash heads the way of the dodo, Harrison Weber, The Next Web, 26 March 2012
  10. ^ Israeli start-up Wix to make $75 million IPO in the U.S., Inbal Orpaz | Feb.20, 2013, Haaretz
  11. ^ Shemer, Nadav (10 June 2013). "6 Israeli Startups To Watch As Google Reportedly Buys Waze For $1.3 Billion". Fast Company. Retrieved 29 July 2013. 
  12. ^ Israeli start-up Wix raises $127m in Nasdaq IPO ,'Financial Times, 6 November 2013
  13. ^ Prive, Tanya (18 October 2012). "20 Must Have Tools For Small Businesses". Forbes. Retrieved 2014-01-17. 
  14. ^ "New Mobile Solution from Wix". Wix Blog. 
  15. ^ Barrett, Jeff (16 October 2012). "Wix introduces game-changing App Market for web developers". The Washington Times. Retrieved 2014-01-17. 
  16. ^ Wix.com launches apps market, Paul Krill, October 16, 2012, Computerworld
  17. ^ Clancy, Heatjer (16 May 2013). "Small-business web host becomes Google reseller". ZDNet. Retrieved 29 July 2013. 
  18. ^ Wix and Shopify Partner to Launch New Small Business Solution Yahoo! Finance, Nov 19, 2012

External links[edit]