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Wix.com

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This article is about a website builder tool. For the software installation tool, see WiX. For other uses, see Wix.

Wix.com Ltd.
Company typePublic company
Nasdaq: WIX
ISINIL0011301780
IndustryInternet
Founded2006; 18 years ago (2006)
Founders
  • Avishai Abrahami
  • Nadav Abrahami
  • Giora Kaplan
Headquarters
Tel Aviv
,
Israel
Number of locations
22 (2022)
List
Area served
Worldwide
Key people
Mark Tluszcz (Chairman)
Avishai Abrahami (CEO)
ProductsOnline services for stores, bookings, hotels, events, restaurants, fitness, video, music, shoutout, answers, logo maker
ServicesWebsite builder, business management, web hosting service
RevenueIncrease US$1.4 billion (2023)
Decrease US$−0.284 billion (2023)
Increase US$−0.525 billion (2023)
Total assetsDecrease US$1.785 billion (2023)
Total equityIncrease US$175 million (2023)
OwnersBaillie Gifford (14.2%)
Starboard Value (9%)
BlackRock (4.7%)
Principal Global (4.3%)
Jackson Square Partners (4.3%)
Number of employees
4,450 (August 2023)
Subsidiaries
Websitewix.com
Footnotes / references
[1][2]
Wix's secondary headquarters, also in Tel Aviv Port, Israel

Wix.com Ltd., known in Hebrew as (וויקס.קום), stands as an Israeli software enterprise. With a presence on the US public stock exchange, the company specializes in offering cloud-based solutions for web development. I'ts platform empowers users to craft HTML5 websites and mobile sites effortlessly, utilizing intuitive online drag-and-drop tools.[3] In addition to its main headquarters and various office locations in Israel, Wix maintains a global presence with established offices in Brazil, Canada, Germany, India, Ireland, Japan, Lithuania, Poland, the Netherlands, the United States, Ukraine, and Singapore.[4]

Individuals have the capability to incorporate applications related to social media, e-commerce, online marketing, contact forms, email marketing, and community forums into their websites.[5][6] The foundation of the Wix website builder rests upon a freemium business model, generating its income via premium upgrades.[7] As indicated by W3Techs, Wix is employed by 2.3% of the leading 10 million websites.[8]

History

Product development

Established in 2006 by Israeli developers Avishai Abrahami, Nadav Abrahami, and Giora Kaplan, Wix came into being.[9] With its main offices situated in Tel Aviv, Wix received support from investors including Insight Venture Partners, Mangrove Capital Partners, Bessemer Venture Partners, DAG Ventures, and Benchmark Capital.[10] In 2007, the company initiated an open beta phase, employing a platform founded on Adobe Flash.[11]

In April 2010, Wix had amassed a user base of 3.5 million and secured a Series C funding round amounting to US$10 million. This financial support was contributed by Benchmark Capital, alongside continuing investors Bessemer Venture Partners and Mangrove Capital Partners.[12] By March 2011, Wix had garnered a user count of 8.5 million and successfully secured US$40 million in Series D funding. This funding round brought the cumulative funding for the company up to US$61 million at that point in time.[13]

In June 2011, Wix took its initial stride into the realm of social commerce by introducing the Facebook store module.[14] In March 2012, Wix unveiled a fresh HTML5 site builder, marking the transition from Adobe Flash technology.[15][16] By October 2012, Wix introduced an application market that allowed users to vend applications crafted using the company's automated web development technology. Through Wix's software development kit, app developers gained the ability to fashion and provide web apps for Wix users.[17]

As of August 2013, the Wix platform boasted an excess of 34 million registered users.[18]

On May 15, 2014, Wix introduced the WixHive API, enabling Wix apps embedded within a user's website to collect and exchange visitor data – including contact details, messages, purchases, and bookings – with other installed apps on the same website.[19]

During August 2014, Wix unveiled Wix Hotels, a reservation system tailored for hotels, bed and breakfast establishments, and vacation rentals that utilize Wix websites.[20] In 2015, Wix introduced Wix Music, serving as a platform for independent musicians to promote and distribute their music.[21] Wix Restaurants made its debut in 2016.[22]

In December 2017, Wix Code was unveiled, offering an API that enables the addition of database collections and custom JavaScript scripting.[23] In March 2020, Wix Code was re-branded to Corvid API,[24] and then in January 2021 re-branded from Corvid to Velo, to avoid resemblance to the ongoing COVID-19 pandemic.[25]

In December 2018, Ascend by Wix was introduced by the company,[26] a collection of 20 tools which empowers entrepreneurs to initiate, oversee, and promote their businesses directly through the Wix web development platform.

In November 2019, Wix introduced an integrated solution, Wix Fitness,[27] designed to assist fitness entrepreneurs in expanding their businesses, promoting their services, and efficiently managing customer relationships.

In February 2020, Editor X was revealed by Wix.[28]A fresh platform designed to provide advanced functionalities for designers and web agencies.

By June 2020, through ongoing enhancements, updates, and releases to its features,[29] Wix asserted that it had amassed over 180 million registered users hailing from 190 countries across the globe.[30]

By the conclusion of 2020, prompted by Adobe's choice to discontinue support for the Flash Player,[31] Wix ceased permitting users to generate websites using the Flash Editor, and they also discontinued offering support for Flash-based sites, leading to the removal of all existing Flash sites.[32] This marked the formal conclusion of Wix's inaugural product's lifecycle.

During 2021, Wix established a partnership with Vistaprint.[33] Subsequently, Wix formed a collaboration with LegalZoom[34] a year later to better support entrepreneurs starting a business.

As of 2022, the global count of registered users on the Wix platform exceeded 220 million.[35]

May 2023 witnessed the introduction of Wix Headless, a solution enabling developers to seamlessly integrate Wix's business solutions across diverse platforms through the utilization of its APIs and SDKs. The introduction of Wix Headless marks a strategic pivot by Wix to address the demands of professional web developers and larger enterprises seeking increased customization and adaptability.[36]

IPO and acquisitions

On November 5, 2013, Wix conducted its initial public offering on NASDAQ, generating approximately US$127 million for the company and certain shareholders.[37]

In April 2014, Wix revealed its acquisition of Appixia, an Israeli startup specializing in the development of native mobile commerce (mCommerce) apps. Subsequently, in October 2014, Wix announced its acquisition of OpenRest, a company that focused on crafting online ordering systems for restaurants.[38][39]

On February 23, 2017, Wix completed the acquisition of the online art community DeviantArt for a sum of US$36 million.[40]

In February 2020, Wix purchased Inkfrog, a move aimed at facilitating marketplace and sales channel integrations for eBay sellers.

On March 2, 2021, Wix acquired SpeedETab,[41] a technology provider specializing in online solutions for restaurants based in Miami.

In May 2021, Wix acquired Rise.ai,[42] the gift card and customer re-engagement solution for online brands. One month later, Wix acquired Modalyst,[43] a leading marketplace and dropshipping platform.

Description

To link their websites to personal domains, eliminate Wix ads, utilize the form builder, enable e-commerce functionalities, or acquire additional data storage and bandwidth, users are required to procure premium packages.[7]

Wix offers personalized website templates along with a user-friendly HTML5 website builder that features apps, graphics, image galleries, fonts, vectors, animations, and various other choices. Users also have the option to create their websites from the ground up. In October 2013, Wix introduced a mobile editor that empowers users to fine-tune their sites for optimal mobile viewing.[44]

The Wix App Market provides a range of applications available as both free and subscription-based options. The revenue generated is divided with 80% going to the developer and 20% to Wix.[45] Customers have the ability to seamlessly incorporate third-party applications into their websites, including features like photo feeds, blogs, music playlists, online communities, email marketing, and file management..[46]

The Velo API allows the insertion of custom JavaScript code into Wix webpages.[47]

Acquisitions

  • Appixia: Developer of a platform for building "mCommerce" apps (acquired March 2014)
  • OpenRest: Provider of online ordering and mobile solutions for restaurants (acquired October 2014[38])
  • Moment.me: Mobile website builder for events and marketing tools for social lead generation (acquired April 2015[48])
  • Flok: Provider of customer loyalty programs tools (acquired January 2017)
  • DeviantArt: Online community for art/design creators and enthusiasts (acquired February 2017[40])
  • InkFrog: A web design company that provides customized business management software for eBay sellers (acquired February 2020[49])
  • SpeedETab: Restaurant online technology provider (acquired March 2021)[50]
  • Rise.ai: Gift card and customer re-engagement solution for online brands (acquired May 2021)[51]
  • Modalyst: a marketplace and dropshipping platform (acquired June 2021)[52]

Use of WordPress code

A controversy emerged in October 2016 regarding Wix's utilization of code licensed under WordPress's GPL.[53] Avishai Abrahami, CEO of Wix, responded by publishing an explanation detailing the specific open-source code employed and elucidating Wix's engagement with the open-source community.[54] Nevertheless, it was later observed that collaborating with the open-source community fell short of the requirements set by the GPL license. The GPL license mandates that any code constructed upon GPL-licensed code must also be distributed under the same license.[55]

Removal of activist website

On May 31, 2021, a website hosted by Wix and operated by exiled Hong Kong activists (2021hkcharter.com) was taken offline upon the request of the Hong Kong Police. This marked the initial instance of Hong Kong's National Security Law being employed to restrict content on a foreign website. Wix subsequently issued an apology for the "unintended removal of the website" and restored access to the website after a four-day downtime period.[56][57]

References

  1. ^ "Wix.com Ltd 2021 Annual Report (Form 20-F)". U.S. Securities and Exchange Commission. 1 April 2022.
  2. ^ "Top Institutional Holders". finance.yahoo.com. Retrieved 12 May 2022.
  3. ^ Zukerman, Erez (9 April 2012). "Create a Website Easily With Wix". PC World. Retrieved 17 January 2014.
  4. ^ "Wix Offices Around the World". wix.com. Retrieved 19 March 2019.
  5. ^ "Now At 25M Users, Wix Brings Third-Party Apps To Its Website Builder With New Marketplace". TechCrunch. 16 October 2012. Retrieved 17 January 2014.
  6. ^ "Wix's new ADI tool uses artificial intelligence to build a Website for you". The Next Web. 7 June 2016. Retrieved 3 August 2020.
  7. ^ a b "New options for building a free website". MSN. 23 July 2013. Archived from the original on 28 July 2013. Retrieved 29 July 2013.
  8. ^ "Usage statistics and market share of Wix". w3techs.com. Retrieved 26 April 2022.{{cite web}}: CS1 maint: url-status (link)
  9. ^ Tress, Luke (23 February 2017). "Wix acquires online creative community DeviantArt". The Times of Israel. Retrieved 30 January 2021.
  10. ^ Vidra, Eze (28 March 2011). "Israeli startup Wix Raises $40 Million, Wants to Become a Large Company in Israel". VC Cafe. Retrieved 17 January 2014.
  11. ^ McCarthy, Caroline (13 October 2008). "Site creator Wix announces funding, subscriptions". CNET. Retrieved 17 January 2014.
  12. ^ "Investment of $10 Million Raised by Wix for Promotion of Flash Website Software". PRWeb. Retrieved 20 March 2018.
  13. ^ Israeli startup Wix Raises $40 Million, Wants to Become a Large Company in Israel, Eze Vidra, VCCafe; 28 March 2011
  14. ^ Nicole Perlroth, Wix Unveils New Facebook eStore For Small Businesses, Forbes, 22 June 2011
  15. ^ Wix launches a brand new HTML5 site builder as Flash heads the way of the dodo, Harrison Weber, The Next Web, 26 March 2012
  16. ^ Robert Brandl, Wix html5 Website Builder – Let’s Compare It with the Flash Version, Websitetooltester.com, 11 April 2012
  17. ^ Barrett, Jeff (16 October 2012). "Wix introduces game-changing App Market for web developers". The Washington Times. Retrieved 17 January 2014.
  18. ^ 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.
  19. ^ "WixHive API". Wix.com. Retrieved 10 August 2014.
  20. ^ Boutique hotels just got easier to book, Sara Ashley O'Brien, CNN Money, 6 August 2014
  21. ^ Wix targets indie musicians with WixMusic launch, Natalie Gagliordi, ZDNet | 31 March 2015
  22. ^ Wix.com Launches Wix Restaurants Bringing a True DIY Solution for Online and Mobile Ordering to Restaurants Worldwide, Yahoo! Finance, 31 March 2016
  23. ^ Cohen, Emmanuel (5 December 2017). "Huge News! You Can Now Create Without Limits Using Wix Code". Wix Blog. Wix. Retrieved 24 March 2020.
  24. ^ Balfour, Jonah (3 March 2020). "What is Corvid by Wix? Build Web Applications, Faster". Wix Blog. Wix. Retrieved 24 March 2020.
  25. ^ "What Happens When a Pandemic Sounds like Your Product Name".{{cite web}}: CS1 maint: url-status (link)
  26. ^ press-room (20 January 2019). "Introducing: Ascend by Wix". Press Room | Press Releases | Wix.com. Retrieved 1 August 2022.
  27. ^ Rosenberg, Matthew (12 November 2019). "Introducing Wix Fitness: All in One Solution for Fitness Entrepreneurs". Press Room | Press Releases | Wix.com. Retrieved 1 August 2022.
  28. ^ Rosenberg, Matthew (6 February 2020). "Wix Unveils Editor X - Extending Leadership of Web Creation Market". Press Room | Press Releases | Wix.com. Retrieved 1 August 2022.
  29. ^ "Updates & Releases". 24 June 2020.
  30. ^ "The Leader in Website Creation". June 2020.
  31. ^ "Adobe Flash Player End of Life". adobe.com. Retrieved 16 February 2021.
  32. ^ "Important Information About the Flash Editor".{{cite web}}: CS1 maint: url-status (link)
  33. ^ Ltd, Wix com. "Vistaprint Selects Wix as the Technology Layer for its Millions of Small Business Customers Worldwide to Create, Manage and Grow their Business Online". www.prnewswire.com. Retrieved 9 August 2022.
  34. ^ Ltd, Wix com. "Wix and LegalZoom Join Forces to Offer Personalized Solutions for Small Businesses to Establish and Grow their Business Online". www.prnewswire.com. Retrieved 9 August 2022.
  35. ^ "The Leader in Website Creation" (PDF).{{cite web}}: CS1 maint: url-status (link)
  36. ^ Southern, Matt G. (10 May 2023). "Wix Breaks New Ground With Launch Of Wix Headless". Search Engine Journal. Retrieved 11 May 2023.
  37. ^ Israeli start-up Wix raises $127m in Nasdaq IPO, Financial Times, 6 November 2013
  38. ^ a b "Wix expands with acquisition of restaurant solutions provider OpenRest". geektime.com. 30 October 2014. Retrieved 23 January 2017.
  39. ^ "Fresh From IPO, Wix Acquires Israeli Startup Appixia To Bring Native Mobile Commerce Support To 42M Users – TechCrunch". techcrunch.com. Retrieved 27 May 2018.
  40. ^ a b "Website builder Wix acquires art community DeviantArt for $36M". TechCrunch. Retrieved 23 February 2017.
  41. ^ Ltd, Wix com. "Wix Acquires SpeedETab to Strengthen Wix Restaurant Capabilities". www.prnewswire.com. Retrieved 10 August 2022.
  42. ^ Ltd, Wix com. "Wix Acquires Rise.ai to Extend Native Wix eCommerce Platform Offering". www.prnewswire.com. Retrieved 10 August 2022.
  43. ^ Ltd, Wix com. "Wix Acquires Modalyst to Provide Its Own eCommerce Supplier Marketplace and Native Dropshipping Solution". www.prnewswire.com. Retrieved 10 August 2022.
  44. ^ "New Mobile Solution from Wix". Wix Blog.
  45. ^ "Wix Developer Center | Build a Web App | Wix.com". Wix Developer site. Retrieved 9 August 2022.
  46. ^ Clancy, Heatjer (16 May 2013). "Small-business web host becomes Google reseller". ZDNet. Retrieved 29 July 2013.
  47. ^ "API Overview". Corvid Reference. Wix. Retrieved 24 March 2020.
  48. ^ "Wix Buys Moment.Me For $10M To Add Social Marketing To Its Website Building Platform – TechCrunch". techcrunch.com. Retrieved 27 May 2018.
  49. ^ "Wix Launches Extended eCommerce Solution". MarTechSeries. 1 July 2020.
  50. ^ Ltd, Wix com. "Wix Acquires SpeedETab to Strengthen Wix Restaurant Capabilities". www.prnewswire.com. Retrieved 10 August 2022.
  51. ^ Ltd, Wix com. "Wix Acquires Extend Native Wix eCommerce Platform Offering". www.prnewswire.com. Retrieved 10 August 2022.
  52. ^ Ltd, Wix com. "Wix Acquires Modalyst to Provide Its Own eCommerce Supplier Marketplace and Native Dropshipping Solution". www.prnewswire.com. Retrieved 10 August 2022.
  53. ^ The Wix Mobile App, a WordPress Joint, Ma.tt, 28 October 2016
  54. ^ Dear Matt Mullenweg: an open letter from Wix.com's CEO | Official Wix Blog, 29 October 2016
  55. ^ Gallagher, Sean. "Wix gets caught 'stealing' GPL code from WordPress". Ars Technica.
  56. ^ EDT, Zoe Strozewski On 6/3/21 at 3:50 pm (3 June 2021). "Wix apologizes for removing website in support of Hong Kong democracy". Newsweek. Retrieved 6 June 2021.{{cite web}}: CS1 maint: numeric names: authors list (link)
  57. ^ "Hong Kong security law used to shut down website run by overseas activists". South China Morning Post. 3 June 2021. Retrieved 6 June 2021.

External links

  • Media related to Wix.com at Wikimedia Commons
  • Official website
  • Business data for Wix.com Ltd.:
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