Wix – the Israeli-American startup goes NASDAQ

WIX1

WIX : CEO & Founder Avishai Avrahami

/ By Netzah Shalmon /

Wix, is a seven-year old company that developed a platform for website building that bypasses the need for technical knowhow.  It was created by Giora Kaplan and brothers Nadav and Avishai Avrahami and will presently try to raise $75 million with the assistance of JPMorgan Chase, based on a projected value of no less than $400 million.

Wix has, to date, raised $60 million from venture capital funds and private investors.  In 2012 it recorded income of $60 million, after presenting a new approach to building websites with HTML5, which till then only supported flash sitebuilding.

The outlook for 2013 is that of doubling the income, among others as a result of the new applications store the company just opened, designed to service Wix website builders.

The company operates at four locations: New York, San Francisco, Tel Aviv and Dnipropetrovsk (in the Ukraine).  It has a workforce of 300 employees.  Recently, the magazine Business Insider ranked it No. 65 in its global list of the top 100 most promising private technology companies.

To date, 26 million websites were created using Wix technology.

In the past, Wix turned down an offer for its purchase, saying “No, thanks” to an exit sign with the number $200 million written on it.

Courtesy of  Israelilifeusa.com

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