Wix Files For $100 Million IPO
Wix is an Israel-based company that has filed for a $100 million initial public offering (IPO). Wix has 37 million registered users. The company has a “freemium” business model.
Wix lets users design websites with a drag-and-drop interface. Around 680,000 of the users are paid subscribers. In terms of revenues, Wix hit $34.1 million for the first six months of 2013. This is up from $18.9 million from the period a year ago. The company saw a net loss of $10.1 million for the first half of 2013. This is up from $7.8 million in the first half of 2012.
Some of Wix’s shareholders are Mangrove Capital Partners (27%), Bessemer Venture Partners (26%), Insight Venture Partners (12.2%), and Benchmark Capital Partners (13.2%). The underwriters in the deal are JPMorgan, Bank of America Merrill Lynch, and RBC Capital Markets.