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Wix.com

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Wix.com Inc.
Company typePublic
Nasdaq: WIX
Founded2006 (2006)
FounderAvishai Abrahami
Nadav Abrahami
Giora Kaplan
Headquarters
Tel Aviv
,
Israel
Number of locations
San Francisco, New York City, Dnipropetrovsk, Vilnius, Beersheba, Haifa
ServicesWebsite builder, Web hosting service
Revenue$141.84 million (2014)
Total assets$118.42 million (2014)
Number of employees
850
Websitewww.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] [4]

History

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.[5][6]

It entered an open beta phase in 2007 using a platform based on Adobe Flash.[7]

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.[8] 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.[9]

Move to HTML5

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.[10]

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.[11][failed verification]

As of August 2013, the Wix platform had over 34 million registered users.[12] By August 2014, over 51 million users across 190 countries have used Wix with roughly 45,000 new users a day.[13]

IPO on NASDAQ

On 5 November 2013, Wix had an initial public offering on NASDAQ, raising about $127 million for the company and some share holders.[14]

Features

Wix provides hundreds of customizable website templates and a drag and drop HTML5 website builder which includes apps, graphics, image galleries, fonts and more. Users can also opt to create their websites from scratch. Wix has been called by many independent reviews as one of the best free website builders.[15] In October, 2013 Wix introduced a Mobile Editor that allows users easily adjust their Wix-driven sites to mobile viewing.[16] One drawback of the HTML5 editor is the missing ability to switch to a new template design after the user has made his initial choice. Many of their competitors offer easier ways to switch templates.[17]

Wix App Market

On October 2012, Wix launched an app market for users to sell 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.[18] 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.[19]

The App Market enables customers to integrate third-party applications into their own websites such as photo feeds, blogging, music playlists, online community, e-mail marketing, and file management.[20] Various applications are offered from providers such as Google, Instagram, LiveChat, Shopify and Ecwid.[21] [22]

On May 15, 2014, Wix announced "WixHive API" which allows any installed Wix app within a user's website to capture and share their visitors' data (such as contact information, messages, purchases, bookings, etc.) with other installed apps within the same website. By sharing data, this gives Wix users more actionable information about their visitors' behavior and can help businesses grow.[23]

Industry competitors

Wix's primary competitors in the website publishing industry include Webnode, WordPress, Weebly, Squarespace, GoDaddy, amongst others.[24] At the moment, Wix is the only company amongst its competitors that is publicly listed on the NASDAQ Stock Market.[25]

See also

References

  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. ^ "Business Solution Reviews". Wix.com. Retrieved 10 October 2013.
  5. ^ "Wix.com". LinkedIn. Retrieved 12 November 2012.
  6. ^ 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.
  7. ^ McCarthy, Caroline (13 October 2008). "Site creator Wix announces funding, subscriptions". CNET. Retrieved 2014-01-17.
  8. ^ Investment of $10 Million Raised by Wix for Promotion of Flash Website Software, (PRWEB) April 2, 2010
  9. ^ Israeli startup Wix Raises $40 Million, Wants to Become a Large Company in Israel, Eze Vidra, VCCafe; March 28, 2011
  10. ^ Wix launches a brand new HTML5 site builder as Flash heads the way of the dodo, Harrison Weber, The Next Web, 26 March 2012
  11. ^ Israeli start-up Wix to make $75 million IPO in the U.S., Inbal Orpaz | Feb.20, 2013, Haaretz
  12. ^ 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.
  13. ^ "Wix About Us". Wix.com. Wix.com.
  14. ^ Israeli start-up Wix raises $127m in Nasdaq IPO ,'Financial Times, 6 November 2013
  15. ^ Haught, Lesley (12 November 2013). "Free Website Builders". WebBuildersGuide.com. Retrieved 2014-12-14. [verification needed]
  16. ^ "New Mobile Solution from Wix". Wix Blog.
  17. ^ "Wix.com Review – Website Creation for Creative People". WebsiteToolTester. Retrieved 19 November 2014.
  18. ^ Barrett, Jeff (16 October 2012). "Wix introduces game-changing App Market for web developers". The Washington Times. Retrieved 2014-01-17.
  19. ^ Wix.com launches apps market, Paul Krill, October 16, 2012, Computerworld
  20. ^ Clancy, Heatjer (16 May 2013). "Small-business web host becomes Google reseller". ZDNet. Retrieved 29 July 2013.
  21. ^ Wix and Shopify Partner to Launch New Small Business Solution Yahoo! Finance, Nov 19, 2012
  22. ^ Ecwid Store Builder Available to Wix.com’s 35 Million Users Reuters, Jun 25, 2013
  23. ^ "WixHive API". Wix.com. Retrieved 10 August 2014.
  24. ^ Wong, Jeremy. "Wix Industry Competitors". Website Builder Expert. Retrieved 10 August 2014.
  25. ^ "Nasdaq Listed Company". Wix.com. Retrieved 10 August 2014.
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