The robust growth Wix.com showed off during its first quarter earnings call this morning was nothing short of astounding. The Isreali-based tech firm reported $28.8 million in revenue for the quarter, an 86 percent increase year over year.
And that’s nothing compared to its 46 million and growing user base.
The company says it has seen a 45 percent increase since this time last year. And 908,000 of those are paying customers.
All of this comes from a company that only went public last fall with a total of 38 million users already on its platform.
The company also runs a curated App Market full of tools for managing Web presence. A new Wix Hive tool designed to integrate with those apps gives website users a better understanding of visitor behavior on their sites.
Wix offers a simple drag and drop approach to Web design for its users. Premium packages like eCommerce are aimed at online entrepreneurs and small business owners.
In addition to impressive revenue growth and user adoption causing the company to raise its guidance for the year, Avishai Abrahami, Co-Founder, Chairman and Chief Executive Officer said mobile use for the company is also up. In his comments during the sales call, Abrahami explained:
“Wix Mobile site development continues to be one of our most utilized products. Over 2.8 million mobile sites have been built with Wix to date, with nearly 1.3 million during the last quarter alone. As far as we know, Wix is by far the fastest growing platform for mobile website building, adding nearly 400,000 new sites per month.
What is unique about Wix Mobile is that users only need to build their site once and our platform automatically optimizes it for mobile. Once built, Wix users are free to modify the mobile site at any time without altering the desktop version.”
At first glance, mobile appears to be another place Wix is experiencing run away growth.
Glad to see they’re doing well, but the stock market doesn’t seem to appreciate their efforts much. They’re trading near their IPO price right now.