Connect with us

Hi, what are you looking for?

Jewish Business News


Wix Breaks The Billion Dollar Barrier

Six weeks after the Nasdaq IPO of the DIY website developer, the share price has risen 67% and the market cap is above $1 billion.

The share price of DIY website developer Ltd. (Nasdaq: WIX) rose 6.6% yesterday as the company’s market cap broke through the $1 billion barrier just six weeks after its IPO. In early trading on Nasdaq today, Wix’s share price was up 0.81% to $27.84, giving a market cap of $1.02 billion. This compares impressively with a share price $16.50 and market cap of $600 million at the IPO in early November. Thus the share price has risen 67%.

Founded in 2006, the company has developed a platform that makes it easy for users to set up their own site. Wix’s biggest shareholders are Mangrove Capital Partners and Bessemer Venture Partners who own 22% and 21% respectively. None of the funds with a stake in Wix decided to sell their holding during the IPO, and on paper the decision has paid off. Mangrove and Bessemer’s holdings are worth about $200 million each compared with $130 million at the IPO.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

The company’s founders decided to realize some of their holdings. CEO Avishai Abrahami, his brother, VP R&D Nadav Abrahami, and CTO Giora Kaplan each sold 484, 000 shares earning each of the three $8 million. This leaves Avishai Abrahami with a 3.6% stake worth $36 million and Nadav Abrahami and Kaplan each with a 3% stake worth $30 million.

The share price has outperformed the analysts’ forecasts. At the start of December Merrill Lynch set a target price of $23 per share, while Oppenheimer and Needham each set a target price of $25 per share.

Published by 



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.