||This article contains content that is written like an advertisement. (January 2015)|
|Traded as||NASDAQ: WIX|
|Headquarters||Tel Aviv, Israel|
Number of locations
|San Francisco, New York City, Dnipropetrovsk, Vilnius, Tel Aviv, Beersheba|
|Services||Website builder, Web hosting service|
|Revenue||$141.84 million (2014)|
|Total assets||$118.42 million (2014)|
Number of employees
Wix.com is a cloud-based web development platform that allows users to create HTML5 web sites and mobile sites through the use of their online drag and drop tools. Users may add functionalities such as social plug-ins, e-commerce, contact forms, e-mail marketing, and community forums to their web sites using a variety of Wix-developed and third-party applications.
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.
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.
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. 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 that date to $61 million.
Move to HTML5
In March 2012, Wix launched a new HTML5 site builder, replacing the Adobe Flash technology. Existing sites built in Flash continued to be supported, but all new customers were directed to the new HTML5 platform.
As of August 2013, the Wix platform had more than 34 million registered users. By August 2014, more than 51 million users throughout 190 countries have used Wix with roughly 45,000 new users a day.
IPO on NASDAQ
Wix provides hundreds of customizable web site templates and a drag and a drop HTML5 web site builder that includes apps, graphics, image galleries, fonts, and more. Users also may opt to create their web sites from scratch. Wix has been called by many independent reviews as one of the best free website builders. In October, 2013 Wix introduced a Mobile Editor that allows users easy options to adjust their Wix-driven sites to mobile viewing.
One drawback of the HTML5 editor is the lack of an ability to switch to a new template design after the user has made an initial choice. Many of their competitors offer easier ways to switch templates.
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 the millions of Wix users around the globe. 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.
The App Market enables customers to integrate third-party applications into their own web sites, such as photograph feeds, blogging, music playlists, online community, e-mail marketing, and file management. Various applications are offered from providers such as Google, Instagram, LiveChat, Shopify, and Ecwid.
On May 15, 2014, Wix announced "WixHive API", which allows any installed Wix app within a user web site to capture and share their visitor data (such as contact information, messages, purchases, bookings, etc.) with other installed apps within the same web site. By sharing data, this gives Wix users more actionable information about their visitor behavior and can help grow businesses.
Wix's primary competitors in the web site publishing industry include Webnode, WordPress, Weebly, Squarespace, and GoDaddy, amongst others. At the moment, Wix is the only company amongst its competitors that is publicly-listed on the NASDAQ Stock Market.
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