Wix Files For $100 Million IPO

Wix Logo

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.

[Source: Forbes/SEC]

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