Wix.com, the DIY website builder with more than 38 million users so far, has announced plans for an IPO.
Wix.com frequently makes lists of top eCommerce solutions and top website builders for small businesses.
In a registration statement filed this week with the Securities and Exchange Commission, the company explained its services to businesses and individuals:
We are pioneering a new approach to web development and management that provides an easy-to-use yet powerful cloud-based platform that eliminates the need for complex coding and supplants expensive design services. Our solutions enable millions of businesses, organizations, professionals and individuals to take their businesses, brands and workflow online.
The company reports having $34.1 million in revenue as of June and will be seeking a maximum aggregate offering price of $100 million based on papers filed with the SEC.
What Wix Offers Users
Wix offers users a free drop and drag website design service and also some premium services at various monthly fees. The company also offers a curated App Market to help users design and maintain their Web presences.
Those premium services include packages specifically targeted at small businesses and entrepreneurs including eCommerce.
As of August 31, Wix claims it had 679,536 premium subscriptions, according to filings with the SEC.
The company is based in Tel Aviv with offices in San Francisco, New York and Dnepropetrovsk.
IPOs like this are a great indicator to me that the tech industry is coming out of the recession. And I’m impressed that they have 38 million customers. That’s not easy to do.
The first time I saw Wix I am thinking that it will not boom as much as other platforms do. But then again, I forgot that there is a significant market in creating stunning websites. I guess this is their target.
I felt the exact same way. I even designed one of my websites through them and was definitely not impressed. They have come a long way and I might have to give them another look.
Ed,
They are getting better, IMO. So many competitors out there – Puzl, etc. – but I think the Wix marketing team does a great job in getting found, translated into 38 millions of users.
Just like in burger business: Many can claim they make the best burger in the world, but not many can run a burger-based business like McDonald’s.