Wix.com, the DIY website builder with more than 38 million users so far, has announced plans for an IPO.
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.