Wix.com

Wix.com Ltd.
Public company
Traded as NASDAQ: WIX
Industry Internet
Founded 2006 (2006)
Founder Avishai Abrahami
Nadav Abrahami
Giora Kaplan
Headquarters Tel Aviv, Israel
Number of locations
 12 (2015)
Area served
 Worldwide
Key people
 Mark Tluszcz (Chairman)
Avishai Abrahami (CEO)
Products Wix Stores, Wix Bookings, Wix Hotel, Wix Restaurants, Wix Video, Wix Music, Wix ShoutOut
Services Website builder, Business Management, Web hosting service
Revenue Increase $290.10 million (2016)
200$ million
Total assets Increase $214.97 million (2016)
Total equity $4.5 billion[1] (2018)
Owners T. Rowe Price (14.1%)[1]
Mangrove Capital Partners (9.7%)
Steadfast (8.5%)
Fidelity Investments (5.5%)
Number of employees
 2400 (2016)
Subsidiaries DeviantArt
Website wix.com

Wix.com Ltd. is an Israeli cloud-based web development platform that was first developed and popularized by the Israeli company also called Wix. It allows users to create HTML5 web sites and mobile sites through the use of online drag and drop tools.[2] Users may add functionality such as social plug-ins, e-commerce, online marketing, contact forms, e-mail marketing, and community forums to their web sites using a variety of Wix-developed and third-party applications.[3]

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, access to form builder, add e-commerce capabilities, or buy extra data storage and bandwidth.[4][5] Along with its headquarters and other offices in Israel, Wix also has locations in Ukraine, Brazil, Lithuania, the United States and Germany.[6]

History

Wix was founded in 2006 by Israeli developers Avishai Abrahami, Nadav Abrahami and Giora Kaplan. The company, headquartered in Tel Aviv, was backed by investors Insight Venture Partners, Mangrove Capital Partners, Bessemer Venture Partners, and Benchmark Capital.[6][7]

The company entered an open beta phase in 2007 using a platform based on Adobe Flash.[8]

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.[9] 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.[10] In April 2014, Wix announced its acquisition of Appixia, an Israeli startup for creating native mobile commerce (mCommerce) apps. In October 2014, Wix announced its acquisition of OpenRest, a developer of online ordering systems for restaurants.[11]

On 23 February 2017, Wix acquired the online art community DeviantArt for $36 million.[12]

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.[13]

By August 2013, the Wix platform had more than 34 million registered users.[14] By 2014, the company reported 50 million users.[6]

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.[15]

Features

Wix provides customizable web site templates and a drag and drop HTML5 web site builder that includes apps, graphics, image galleries, fonts, and other options. Users also may opt to create their web sites from scratch. In October 2013 Wix introduced a mobile editor to allow users to adjust their sites for mobile viewing.[16]

App market

In 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.[17] 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.[18] 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.[19] Various applications are offered from providers such as Google, Instagram, LiveChat, Shopify, and Ecwid.[20][21]

On 15 May 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 and bookings) 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.[22]

Other services

In August 2014, Wix launched Wix Hotels, a booking system for hotels, bed and breakfasts, and vacation rentals which use Wix websites.[23] This was followed in 2015 by Wix Music, a platform for independent musicians to market and sell their music.[24] and Wix Restaurants in 2016.[25]

Acquisitions

  • Appixia, a developer of a platform for building "mCommerce" apps, was acquired in March 2014.[26]
  • OpenRest, a provider of online ordering and mobile solutions for restaurants, was acquired in October 2014.[27]
  • Moment.me, a service building mobile websites for events and another marketing tool for social lead generation, was acquired in April 2015.[28]
  • Flok, a provider of customer loyalty programs tools, was acquired in January 2017.
  • DeviantArt, an online community for art/design creators and enthusiasts, was acquired in February 2017.[29]

Controversies

In October 2016, there was a controversy over Wix's use of WordPress[30] GPL-licensed code. In response, Avishai Abrahami, Wix's CEO, published an answer explaining which open source code was used and how Wix collaborates with the open source community.[31] However, it was subsequently noted that collaboration with the open source community wasn't sufficient under the terms of the GPL license, which requires any code built on GPL-licensed code to be released under the same license.[32]

See also

References

  1. 1 2 Habib-Valdhorn, Shiri (June 7, 2018). "Still without an annual profit, Wix worth $4.5b". Globes. Retrieved June 10, 2018.
  2. ↑ Zukerman, Erez (9 April 2012). "Create a Website Easily With Wix". PCWorld. Retrieved 17 January 2014.
  3. ↑ "Now At 25M Users, Wix Brings Third-Party Apps To Its Website Builder With New Marketplace". TechCrunch. 16 October 2012. Retrieved 17 January 2014.
  4. ↑ "New options for building a free website". MSN. 23 July 2013. Retrieved 29 July 2013.
  5. ↑ "Business Solution Reviews". Wix.com. Retrieved 10 October 2013.
  6. 1 2 3 "Wix.com". Wix.com. Retrieved 9 May 2017.
  7. ↑ 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.
  8. ↑ McCarthy, Caroline (13 October 2008). "Site creator Wix announces funding, subscriptions". CNET. Retrieved 17 January 2014.
  9. ↑ "Investment of $10 Million Raised by Wix for Promotion of Flash Website Software". PRWeb. Retrieved 2018-03-20.
  10. ↑ Israeli startup Wix Raises $40 Million, Wants to Become a Large Company in Israel, Eze Vidra, VCCafe; 28 March 2011
  11. ↑ "Wix expands with acquisition of restaurant solutions provider OpenRest". geektime.com. 30 October 2014. Retrieved 23 January 2017.
  12. ↑ "Website builder Wix acquires art community DeviantArt for $36M". TechCrunch. Retrieved 23 February 2017.
  13. ↑ Wix launches a brand new HTML5 site builder as Flash heads the way of the dodo, Harrison Weber, The Next Web, 26 March 2012
  14. ↑ 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.
  15. ↑ Israeli start-up Wix raises $127m in Nasdaq IPO, Financial Times, 6 November 2013
  16. ↑ "New Mobile Solution from Wix". Wix Blog.
  17. ↑ Barrett, Jeff (16 October 2012). "Wix introduces game-changing App Market for web developers". The Washington Times. Retrieved 17 January 2014.
  18. ↑ Wix.com launches apps market, Paul Krill, 16 October 2012, Computerworld
  19. ↑ Clancy, Heatjer (16 May 2013). "Small-business web host becomes Google reseller". ZDNet. Retrieved 29 July 2013.
  20. ↑ Wix and Shopify Partner to Launch New Small Business Solution Yahoo! Finance, 19 November 2012
  21. ↑ Ecwid Store Builder Available to Wix.com's 35 Million Users Reuters, 25 June 2013
  22. ↑ "WixHive API". Wix.com. Retrieved 10 August 2014.
  23. ↑ Boutique hotels just got easier to book, Sara Ashley O'Brien, CNN Money, 6 August 2014
  24. ↑ Wix targets indie musicians with WixMusic launch, Natalie Gagliordi, ZDNet | 31 March 2015
  25. ↑ Wix.com Launches Wix Restaurants Bringing a True DIY Solution for Online and Mobile Ordering to Restaurants Worldwide Yahoo finance, 31 March 2016
  26. ↑ "Fresh From IPO, Wix Acquires Israeli Startup Appixia To Bring Native Mobile Commerce Support To 42M Users – TechCrunch". techcrunch.com. Retrieved 27 May 2018.
  27. ↑ Ltd., Wix.com. "Wix.com Acquires OpenRest to Bring Online & Mobile Ordering to Restaurants Worldwide". Retrieved 27 May 2018.
  28. ↑ "Wix Buys Moment.Me For $10M To Add Social Marketing To Its Website Building Platform – TechCrunch". techcrunch.com. Retrieved 27 May 2018.
  29. ↑ "Website builder Wix acquires art community DeviantArt for $36M – TechCrunch". techcrunch.com. Retrieved 27 May 2018.
  30. ↑ The Wix Mobile App, a WordPress Joint, Ma.tt, 28 October 2016
  31. ↑ Dear Matt Mullenweg: an open letter from Wix.com's CEO | Official Wix Blog, 29 October 2016
  32. ↑ Gallagher, Sean. "Wix gets caught "stealing" GPL code from WordPress". Ars Technica.
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