Company:Wix.com

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Short description: Israeli software company
Wix.com Ltd.
TypePublic company
NASDAQ: WIX
ISINIL0011301780
IndustryInternet
Founded2006; 18 years ago (2006)
Founders
  • Avishai Abrahami
  • Nadav Abrahami
  • Giora Kaplan
Headquarters
Tel Aviv
,
Israel
Number of locations
22 (2022)
Area served
Worldwide
Key people
Mark Tluszcz (Chairman)
Avishai Abrahami (CEO)
ProductsOnline services for stores, bookings, hotels, events, restaurants, fitness, video, music, shoutout, answers, logo maker
ServicesWebsite builder, business management, web hosting service
RevenueIncrease US$1.38 billion (2022)
Decrease US$−0.285 billion (2022)
Increase US$−0.425 billion (2022)
Total assetsDecrease US$1.758 billion (2022)
Total equityIncrease US$150 million (2022)
OwnersBaillie Gifford (14.2%)
Starboard Value (9%)
BlackRock (4.7%)
Principal Global (4.3%)
Jackson Square Partners (4.3%)
Number of employees
4,472 (December 2022)
Subsidiaries
Websitewix.com
Footnotes / references
[1][2]
Wix's secondary headquarters, also in Tel Aviv Port, Israel

Wix.com Ltd. (Hebrew: וויקס.קום‎, romanized: wix.com) is an Israeli software company, publicly listed in the US, that provides cloud-based web development services. It offers tools for creating HTML5 websites and mobile sites using online drag-and-drop editing.[3] Along with its headquarters and other offices in Israel, Wix also has offices in Brazil, Canada, Germany, India, Ireland, Japan, Lithuania, Poland, the Netherlands, the United States, Ukraine, and Singapore.[4]

Users can add applications for social media, e-commerce, online marketing, contact forms, e-mail marketing, and community forums to their web sites.[5][6] The Wix website builder is built on a freemium business model, earning its revenues through premium upgrades.[7] According to the W3Techs technology survey website, Wix is used by 2.5% of websites as of September 2023.[8]

History

Product development

Wix was founded in 2006 by Israeli developers Avishai Abrahami, Nadav Abrahami, and Giora Kaplan.[9] With its main offices in Tel Aviv, Wix was backed by investors Insight Venture Partners, Mangrove Capital Partners, Bessemer Venture Partners, DAG Ventures, and Benchmark Capital.[10] The company entered an open beta phase in 2007 using a platform based on Adobe Flash.[11]

By April 2010 Wix had 3.5 million users and raised US$10 million in Series C funding provided by Benchmark Capital and existing investors Bessemer Venture Partners and Mangrove Capital Partners.[12] In March 2011, Wix had 8.5 million users and raised US$40 million in Series D funding, bringing its total funding to that date to US$61 million.[13]

In June 2011, Wix launched the Facebook store module, making its first step into the social commerce trend.[14] In March 2012, Wix launched a new HTML5 site builder, replacing the Adobe Flash technology.[15][16] 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 Wix users.[17]

By August 2013, the Wix platform had more than 34 million registered users.[18]

In May 2014, Wix launched the WixHive API for websites to capture and share visitor data (such as contact information, messages, purchases and bookings) with other installed apps within the same web site.[19]

In August 2014, Wix launched Wix Hotels, a booking system for hotels, bed and breakfasts, and vacation rentals which use Wix websites.[20] Wix Music was launched in 2015 as a platform for independent musicians to market and sell their music.[21] Wix Restaurants was launched in 2016.[22]

In December 2017, Wix Code, an API for adding database collections and custom JavaScript scripting, was released.[23] In March 2020, Wix Code was re-branded to Corvid API,[24] and then in January 2021 re-branded from Corvid to Velo, to avoid resemblance to the ongoing COVID-19 pandemic.[25]

In December 2018, Wix launched Ascend by Wix,[26] a suite of 20 products for business management and promotion using the Wix web development platform.

In November 2019, Wix introduced Wix Fitness,[27] a software package for fitness business promotion and customer relationship management.

In February 2020, Wix unveiled Editor X,[28] a new platform for designers and web agencies.

As of June 2020, with the continuous improvement to its features updates and releases,[29] Wix said it had more than 180 million registered users from 190 countries around the world.[30]

At the end of 2020, and as a result of Adobe's decision to end their support for the Flash Player,[31] Wix stopped allowing their users to create websites in the Flash Editor as well as getting support for the Flash sites and deleting all the Flash sites,[32] thus officially ending the life of Wix's first product.

In 2021, Wix partnered with Vistaprint[33] and then partnered with LegalZoom[34] a year later to improve support for starting small businesses.

By 2022, the Wix platform had more than 220 million registered users worldwide.[35]

In May 2023, Wix introduced Wix Headless, a package for integrating Wix's other software across various platforms using its APIs and SDKs. The launch of Wix Headless signifies a strategic shift by Wix to cater to professional web developers and larger businesses needing more customization and flexibility.[36]

IPO and acquisitions

On 5 November 2013, Wix had an initial public offering on NASDAQ, raising about US$127 million for the company and some share holders.[37]

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.[38][39]

On 23 February 2017, Wix acquired the online art community DeviantArt for US$36 million.[40]

In February 2020, Wix acquired Inkfrog for eBay sellers.[41]

On 2 March 2021, Wix acquired SpeedETab,[42] a Miami-based restaurant online technology provider.

In May 2021, Wix acquired Rise.ai,[43] a gift card and customer re-engagement package for online brands. A month later, Wix acquired Modalyst,[44] a marketplace and drop-shipping platform.

Description

Users must purchase premium packages to connect their sites to their own domains, remove Wix ads, access the form builder, add e-commerce capabilities, or buy extra data storage and bandwidth.[7]

Wix provides customizable website templates and a drag-and-drop HTML5 web site builder that includes apps, graphics, image galleries, fonts, vectors, animations and other options. Users also may opt to create their web sites from scratch. In October 2013, Wix introduced a mobile editor for mobile viewing customization.[45]

Wix App Market offers both free and subscription-based applications, with a revenue split of 80% for the developer and 20% for Wix.[46] 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.[47]

Custom JavaScript code can be inserted into Wix webpages using the Velo API.[48]

Acquisitions

In March 2014, the company acquired Appixia, a developer of a platform for building “mCommerce” apps.[49]

In October 2014, the company acquired OpenRest, a provider of online ordering software for restaurants.[38]

In April 2015, Wix acquired Moment.me, a mobile website builder for events and marketing tools for social lead generation.[50]

In January 2017, the company acquired Flok, a provider of customer loyalty programs tools.[51]

In February 2017, the company acquired DeviantArt, an online community for art/design creators and enthusiasts.[52]

In February 2020, the company acquired InkFrog, a web design company that provides customized business management software for eBay sellers.[53]

In March 2021, Wix acquired SpeedETab, a restaurant online technology provider.[42]

In May 2021, the company acquired Rise.ai, a gift card and customer re-engagement package for brands.[54]

In June 2021, the company acquired Modalyst, a marketplace and dropshipping platform.[44]

Controversies

Use of WordPress code

In October 2016, there was a controversy over Wix's use of WordPress's GPL-licensed code.[55] In response, Avishai Abrahami, Wix's CEO, published a response describing which open-source code was used and how Wix says it collaborates with the open-source community.[56] However, it was subsequently noted that collaboration with the open-source community was not sufficient under the terms of the GPL license, which requires any code built on GPL-licensed code to be released under the same license.[57]

Censorship

On 31 May 2021, 2021 Hong Kong Charter, a Wix-hosted website run by exiled Hong Kong activists, was shut down at the request of the Hong Kong Police. This was the first known case of Hong Kong's National Security Law being used to censor content on an overseas website. Wix later apologized for "mistakenly removing the website" and reinstated the website after it had been down for four days.[58][59]

Israel-Palestinian conflict

In October 2023, Wix fired an employee in Dublin, Ireland after making social media posts critical of Israel. The company was previously reported to encouraged employees to "create videos and creative campaigns" to "support Israel's narrative".[60] This incident led to criticism of Wix from members of the Irish Parliament (Dáil Éireann) and the head of the Irish government, Taoiseach Leo Varadkar, who said it was "not okay to dismiss somebody because of their political views".[60][61] Deputy head of government, Tánaiste Micheál Martin also condemned their dismissal, stating "we tolerate debate with freedom of speech, freedom of opinion, and people have different opinions on these issues."[62]

References

  1. ↑ "Wix.com Ltd 2021 Annual Report (Form 20-F)". U.S. Securities and Exchange Commission. 1 April 2022. https://www.sec.gov/ix?doc=/Archives/edgar/data/1576789/000117891322001359/zk2227541.htm. 
  2. ↑ "Top Institutional Holders". https://finance.yahoo.com/quote/WIX/holders?p=WIX. 
  3. ↑ Zukerman, Erez (9 April 2012). "Create a Website Easily With Wix". PC World. http://www.pcworld.com/article/253379/wix.html. 
  4. ↑ "Wix Offices Around the World". https://support.wix.com/en/article/wix-offices-around-the-world. 
  5. ↑ "Now At 25M Users, Wix Brings Third-Party Apps To Its Website Builder With New Marketplace". TechCrunch. 16 October 2012. https://techcrunch.com/2012/10/16/wix-app-market/. 
  6. ↑ "Wix's new ADI tool uses artificial intelligence to build a Website for you". The Next Web. 7 June 2016. https://thenextweb.com/artificial-intelligence/2016/06/07/wix-adi-ai/. 
  7. ↑ 7.0 7.1 "New options for building a free website". MSN. 23 July 2013. http://money.msn.com/personal-finance/new-options-for-building-a-free-website. 
  8. ↑ "Usage statistics and market share of Wix" (in en). https://w3techs.com/technologies/details/cm-wix. 
  9. ↑ Tress, Luke (23 February 2017). "Wix acquires online creative community DeviantArt". http://www.timesofisrael.com/wix-acquires-online-creative-community-deviantart/. 
  10. ↑ Vidra, Eze (28 March 2011). "Israeli startup Wix Raises $40 Million, Wants to Become a Large Company in Israel". VC Cafe. http://www.vccafe.com/2011/03/28/israeli-startup-wix-raises-40-million-wants-to-become-a-large-company-in-israel/. 
  11. ↑ McCarthy, Caroline (13 October 2008). "Site creator Wix announces funding, subscriptions". CNET. http://news.cnet.com/8301-17939_109-10064517-2.html. 
  12. ↑ "Investment of $10 Million Raised by Wix for Promotion of Flash Website Software". PRWeb. http://www.prweb.com/releases/wix-raises-10-million-to/promote-flash-website/prweb3817934.htm. 
  13. ↑ Israeli startup Wix Raises $40 Million, Wants to Become a Large Company in Israel, Eze Vidra, VCCafe; 28 March 2011
  14. ↑ Nicole Perlroth, Wix Unveils New Facebook eStore For Small Businesses, Forbes , 22 June 2011
  15. ↑ Wix launches a brand new HTML5 site builder as Flash heads the way of the dodo, Harrison Weber, The Next Web, 26 March 2012
  16. ↑ Robert Brandl, Wix html5 Website Builder – Let’s Compare It with the Flash Version, Websitetooltester.com, 11 April 2012
  17. ↑ Barrett, Jeff (16 October 2012). "Wix introduces game-changing App Market for web developers". The Washington Times. http://communities.washingtontimes.com/neighborhood/status-update/2012/oct/16/wix-introduces-game-changing-app-market-web-develo/. 
  18. ↑ Shemer, Nadav (10 June 2013). "6 Israeli Startups To Watch As Google Reportedly Buys Waze For $1.3 Billion". Fast Company. http://www.fastcompany.com/3012685/tech-forecast/6-israeli-startups-to-watch-as-google-reportedly-buys-waze-for-13-billion. 
  19. ↑ "WixHive API". http://investors.wix.com/releasedetail.cfm?ReleaseID=848255. 
  20. ↑ Boutique hotels just got easier to book, Sara Ashley O'Brien, CNN Money, 6 August 2014
  21. ↑ Wix targets indie musicians with WixMusic launch, Natalie Gagliordi, ZDNet | 31 March 2015
  22. ↑ Wix.com Launches Wix Restaurants Bringing a True DIY Solution for Online and Mobile Ordering to Restaurants Worldwide (Press release), Yahoo! Finance, 31 March 2016
  23. ↑ Cohen, Emmanuel (5 December 2017). "Huge News! You Can Now Create Without Limits Using Wix Code" (in en). https://www.wix.com/blog/2017/12/wix-code-creation-without-limits/. 
  24. ↑ Balfour, Jonah (3 March 2020). "What is Corvid by Wix? Build Web Applications, Faster" (in en). https://www.wix.com/corvid/blog/post/what-is-corvid-by-wix-build-web-applications-faster. 
  25. ↑ "What Happens When a Pandemic Sounds like Your Product Name". https://www.wix.com/blog/2021/01/when-a-pandemic-sounds-like-your-product/. 
  26. ↑ "Introducing: Ascend by Wix". Wix.com (Press release). 11 December 2018. Retrieved 2022-08-01.
  27. ↑ Rosenberg, Matthew (12 November 2019). "Introducing Wix Fitness: All in One Solution for Fitness Entrepreneurs". Wix.com (Press release). Retrieved 1 August 2022.
  28. ↑ Rosenberg, Matthew (6 February 2020). "Wix Unveils Editor X – Extending Leadership of Web Creation Market". Wix.com (Press release). Retrieved 1 August 2022.
  29. ↑ "Updates & Releases". Wix.com (Press release). 24 June 2020.
  30. ↑ "The Leader in Website Creation". June 2020. https://www.wix.com/about/us. 
  31. ↑ "Adobe Flash Player End of Life" (in en). https://www.adobe.com/il_en/products/flashplayer/end-of-life.html. 
  32. ↑ "Important Information About the Flash Editor". https://support.wix.com/en/article/important-information-about-the-flash-editor. 
  33. ↑ Wix.com. "Vistaprint Selects Wix as the Technology Layer for its Millions of Small Business Customers Worldwide to Create, Manage and Grow their Business Online". PR Newswire (Press release). Retrieved 9 August 2022.
  34. ↑ Wix.com. "Wix and LegalZoom Join Forces to Offer Personalized Solutions for Small Businesses to Establish and Grow their Business Online". PR Newswire (Press release). Retrieved 9 August 2022.
  35. ↑ "The Leader in Website Creation". https://4f4a3186-9467-4c09-aa74-51fe1affec20.usrfiles.com/ugd/4f4a31_bb551567d34a4a909108f64d0179bc37.pdf. 
  36. ↑ Southern, Matt G. (10 May 2023). "Wix Breaks New Ground With Launch Of Wix Headless" (in en). https://www.searchenginejournal.com/wix-headless/486612/. 
  37. ↑ Israeli start-up Wix raises $127m in Nasdaq IPO, Financial Times, 6 November 2013
  38. ↑ 38.0 38.1 "Wix expands with acquisition of restaurant solutions provider OpenRest". 30 October 2014. http://www.geektime.com/2014/10/30/wix-expands-with-acquisition-of-restaurant-solutions-provider-openrest/. 
  39. ↑ "Fresh From IPO, Wix Acquires Israeli Startup Appixia To Bring Native Mobile Commerce Support To 42M Users – TechCrunch". 13 March 2014. https://techcrunch.com/2014/03/13/fresh-from-ipo-wix-acquires-israeli-startup-appixia-to-bring-native-mobile-commerce-to-its-42m-users/. 
  40. ↑ "Website builder Wix acquires art community DeviantArt for $36M". 23 February 2017. https://techcrunch.com/2017/02/23/website-builder-wix-acquires-art-community-deviantart-for-36m/. 
  41. ↑ "Wix Acquires InkFrog as It Prioritizes Ecommerce". 11 July 2020. https://www.ecommercebytes.com/2020/07/11/wix-acquires-inkfrog-as-it-prioritizes-ecommerce/. 
  42. ↑ 42.0 42.1 Wix.com. "Wix Acquires SpeedETab to Strengthen Wix Restaurant Capabilities". PR Newswire (Press release). Retrieved 10 August 2022.
  43. ↑ Wix.com. "Wix Acquires Rise.ai to Extend Native Wix eCommerce Platform Offering". PR Newswire (Press release). Retrieved 10 August 2022.
  44. ↑ 44.0 44.1 Wix.com. "Wix Acquires Modalyst to Provide Its Own eCommerce Supplier Marketplace and Native Dropshipping Solution". PR Newswire (Press release). Retrieved 10 August 2022.
  45. ↑ "New Mobile Solution from Wix". http://www.wix.com/blog/2013/10/new-mobile-solution-from-wix/. 
  46. ↑ "Wix Developer Center | Build a Web App" (in en). https://dev.wix.com/. 
  47. ↑ Clancy, Heatjer (16 May 2013). "Small-business web host becomes Google reseller". ZDNet. http://www.zdnet.com/small-business-web-host-becomes-google-reseller-7000015458/. 
  48. ↑ "API Overview" (in en). https://www.wix.com/corvid/reference/. 
  49. ↑ "Israel's Wix.com buys mobile commerce firm Appixia". 13 March 2014. https://www.reuters.com/article/wixcom-appixia-idCNL6N0M81VM20140313. 
  50. ↑ "Wix Buys Moment.Me For $10M To Add Social Marketing To Its Website Building Platform – TechCrunch". 2 April 2015. https://techcrunch.com/2015/04/02/wix-buys-moment-me-to-add-social-marketing-tools-to-its-website-building-platform/. 
  51. ↑ "Wix buys Flok to add loyalty and mobile CRM to its business tools". 19 January 2017. https://techcrunch.com/2017/01/19/wix-buys-flok-to-add-loyalty-and-mobile-crm-to-its-suite-of-business-tools/. 
  52. ↑ "Website builder Wix acquires art community DeviantArt for $36M". 23 February 2017. https://techcrunch.com/2017/02/23/website-builder-wix-acquires-art-community-deviantart-for-36m/. 
  53. ↑ "Wix Launches Extended eCommerce Solution". 1 July 2020. https://martechseries.com/mobile/mobile-marketing/e-commerce-and-mobile-commerce/wix-launches-extended-ecommerce-solution/. 
  54. ↑ Wix.com. "Wix Acquires Extend Native Wix eCommerce Platform Offering". PR Newswire (Press release). Retrieved 10 August 2022.
  55. ↑ The Wix Mobile App, a WordPress Joint, Ma.tt, 28 October 2016
  56. ↑ Dear Matt Mullenweg: an open letter from Wix.com's CEO | Official Wix Blog, 29 October 2016
  57. ↑ Gallagher, Sean (November 2016). "Wix gets caught 'stealing' GPL code from WordPress". https://arstechnica.co.uk/information-technology/2016/11/wix-stealing-gpl-code-wordpress/. 
  58. ↑ EDT, Zoe Strozewski On 6/3/21 at 3:50 pm (3 June 2021). "Wix apologizes for removing website in support of Hong Kong democracy" (in en). https://www.newsweek.com/wix-apologizes-removing-website-support-hong-kong-democracy-1597387. 
  59. ↑ "Hong Kong security law used to shut down website run by overseas activists" (in en). 3 June 2021. https://www.scmp.com/news/hong-kong/law-and-crime/article/3135963/hong-kong-national-security-law-used-briefly-shut-down. 
  60. ↑ 60.0 60.1 Power, Jack. "Dublin woman fired by Israeli company over anti-Israel social media posts". The Irish Times. https://www.irishtimes.com/ireland/2023/10/23/dublin-woman-fired-by-israeli-company-over-anti-israel-social-media-posts/. 
  61. ↑ Carolan, Mick. "'Not okay to dismiss somebody because of their political views' - Leo Varadkar on Dublin woman sacked by Wix over anti-Israel posts". Irish Independent. https://www.independent.ie/videos/not-okay-to-dismiss-somebody-because-of-their-political-views-leo-varadkar-on-dublin-woman-sacked-by-wix-over-anti-israel-posts/a1984464575.html. 
  62. ↑ "Woman fired from Israeli tech firm's Dublin office after posting Palestine comments". Irish Examiner. https://www.irishexaminer.com/news/arid-41254711.html. 

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