Wix.com

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Wix.com Ltd.
Public company.
Traded asNASDAQWIX
IndustryInternet
Founded2006; 13 years ago (2006)
FounderAvishai Abrahami
Nadav Abrahami
Giora Kaplan
Headquarters,
Number of locations
12 (2015)
Area served
Worldwide
Key people
Mark Tluszcz (Chairman)
Avishai Abrahami (CEO)
ProductsWix Stores, Wix Bookings, Wix Hotel, Wix Restaurants, Wix Video, Wix Music, Wix ShoutOut
ServicesWebsite builder, Business Management, Web hosting service
RevenueIncrease $290.10 million (2016)
200$ million
Total assetsIncrease $214.97 million (2016)
Total equity$4.5 billion[1] (2018)
OwnersT. Rowe Price (14.1%)[1]
Mangrove Capital Partners (9.7%)
Steadfast (8.5%)
Fidelity Investments (5.5%)
Number of employees
2400 (2016)
SubsidiariesDeviantArt
Websitewix.com

Wix.com Ltd. is an Israeli cloud-based web development platform that was first developed and popularised by the Israeli company also called Wix. It allows users to create HTML5 websites and mobile sites through the use of online drag and drop tools.[2] Along with its headquarters and other offices in Israel, Wix also has locations in Ukraine, Lithuania, Ireland, Germany, the United States and Brazil.

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.[4]

History

Product development

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.[5] The company entered an open beta phase in 2007 using a platform based on Adobe Flash.[6]

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.[7] 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.[8]

In June 2011, Wix launched the Facebook store module, making its first step into the social commerce trend.[9] In March 2012, Wix launched a new HTML5 site builder, replacing the Adobe Flash technology.[10][11] 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.[12]

By August 2013, the Wix platform had more than 34 million registered users.[13]

On 15 May 2014, Wix launched the WixHive API which allows Wix apps 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.[14]

IPO, acquisitions

On 5 November 2013, Wix had an initial public offering on NASDAQ, raising about $127 million for the company and some share holders.[15]

In April 2014, Wix announced the 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.[16][17]

In August 2014, Wix launched Wix Hotels, a booking system for hotels, bed and breakfasts, and vacation rentals which use Wix websites.[18] Wix Music was launched in 2015 as a platform for independent musicians to market and sell their music.[19] Wix Restaurants was launched in 2016.[20]

On 23 February 2017, Wix acquired the online art community DeviantArt for $36 million.[21]

Description

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]

Wix provides customizable website 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.[22]

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.[23] Customers can integrate third-party applications into their own web sites, such as photograph feeds, blogging, music playlists, online community, e-mail marketing, and file management.[24]

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[16])
  • Moment.me: Mobile website builder for events and marketing tools for social lead generation (acquired April 2015[25])
  • Flok: Provider of customer loyalty programs tools (acquired January 2017)
  • DeviantArt: Online community for art/design creators and enthusiasts (acquired February 2017[21])

Controversies

In October 2016, there was a controversy over Wix's use of WordPress[26] 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.[27] 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.[28]

See also

References

  1. ^ a b 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. ^ a b "New options for building a free website". MSN. 23 July 2013. Retrieved 29 July 2013.
  5. ^ 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.
  6. ^ McCarthy, Caroline (13 October 2008). "Site creator Wix announces funding, subscriptions". CNET. Retrieved 17 January 2014.
  7. ^ "Investment of $10 Million Raised by Wix for Promotion of Flash Website Software". PRWeb. Retrieved 2018-03-20.
  8. ^ Israeli startup Wix Raises $40 Million, Wants to Become a Large Company in Israel, Eze Vidra, VCCafe; 28 March 2011
  9. ^ Nicole Perlroth, Wix Unveils New Facebook eStore For Small Businesses, Forbes.com, 22 June 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. ^ Robert Brandl, Wix html5 Website Builder – Let’s Compare It with the Flash Version, Websitetooltester.com, 11 April 2012
  12. ^ Barrett, Jeff (16 October 2012). "Wix introduces game-changing App Market for web developers". The Washington Times. Retrieved 17 January 2014.
  13. ^ 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.
  14. ^ "WixHive API". Wix.com. Retrieved 10 August 2014.
  15. ^ Israeli start-up Wix raises $127m in Nasdaq IPO, Financial Times, 6 November 2013
  16. ^ a b "Wix expands with acquisition of restaurant solutions provider OpenRest". geektime.com. 30 October 2014. Retrieved 23 January 2017.
  17. ^ "Fresh From IPO, Wix Acquires Israeli Startup Appixia To Bring Native Mobile Commerce Support To 42M Users – TechCrunch". techcrunch.com. Retrieved 27 May 2018.
  18. ^ Boutique hotels just got easier to book, Sara Ashley O'Brien, CNN Money, 6 August 2014
  19. ^ Wix targets indie musicians with WixMusic launch, Natalie Gagliordi, ZDNet | 31 March 2015
  20. ^ Wix.com Launches Wix Restaurants Bringing a True DIY Solution for Online and Mobile Ordering to Restaurants Worldwide Yahoo finance, 31 March 2016
  21. ^ a b "Website builder Wix acquires art community DeviantArt for $36M". TechCrunch. Retrieved 23 February 2017.
  22. ^ "New Mobile Solution from Wix". Wix Blog.
  23. ^ Wix.com launches apps market, Paul Krill, 16 October 2012, Computerworld
  24. ^ Clancy, Heatjer (16 May 2013). "Small-business web host becomes Google reseller". ZDNet. Retrieved 29 July 2013.
  25. ^ "Wix Buys Moment.Me For $10M To Add Social Marketing To Its Website Building Platform – TechCrunch". techcrunch.com. Retrieved 27 May 2018.
  26. ^ The Wix Mobile App, a WordPress Joint, Ma.tt, 28 October 2016
  27. ^ Dear Matt Mullenweg: an open letter from Wix.com's CEO | Official Wix Blog, 29 October 2016
  28. ^ Gallagher, Sean. "Wix gets caught "stealing" GPL code from WordPress". Ars Technica.

External links