|Traded as||NASDAQ: WIX|
|Headquarters||Tel Aviv, Israel|
|Number of locations||San Francisco, New York City,Dnipropetrovsk, Vilnius,Beersheba, Haifa|
|Services||Website builder, Web hosting service|
|Revenue||$80.47 million (2013)|
|Total assets||$115.35 million (2013)|
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. 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.
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 investorsInsight 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 date to $61 million.
Move to HTML5
In March 2012, Wix launched a new HTML5 site builder, replacing the Adobe Flashtechnology; existing sites built in Flash were still supported, but all new customers were directed to the new HTML5 platform.
As of August 2013, the Wix platform is being used by over 35 million Internet users to create their online presence.
As of August 2014, over 51 million users across 190 countries have used Wix to power their websites. On average, 45,000 new users are signing up every day.
IPO on NASDAQ
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  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. 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.
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. 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 websites and includes solutions, such as: photo feeds, blogging, music playlists, online community, e-mail marketing, and file management.
On May 15, 2014, Wix announced “WixHive API” in which allows any installed Wix app within a Wix 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.
In addition being able to use Wix for free, Wix has five pricing plans:
- Connect Domain Plan ($6.90 per month)
- Combo Plan ($10.95 per month)
- Unlimited Plan ($15.95 per month)
- eCommerce Plan ($19.90 per month)
- VIP Plan ($29.90 per month)
Discounts are offered if a user subscribes to their annual plans. The higher plans provide users with more website building features, storage, bandwidth and support. All annual plans higher than the Connect Domain plan also comes with a free domain name for 1 year.
Wix’s primary competitors in the website publishing industry include Webnode, WordPress, Weebly, Squarespace,GoDaddy, amongst others. At the moment, Wix is the only company amongst its competitors that is publicly listed on theNASDAQ Stock Market.
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