The Israeli website development platform Wix.com
has filed with the US regulators to raise up to $100 million in an initial public offering. The number of shares to be sold and the price range for the proposed offering have not yet been determined. Whereas beautiful websites used to require a hefty investment, small businesses and individuals quickly found that Wix’s technology – which is code free – made setting up a homepage much easier.
The company’s App Market offers companies to install more than 140 different apps on their websites. According to Wix, more than 38 million businesses, organizations, professionals and individuals have used its platform.
“Wix was founded on the belief that the Internet should be accessible to everyone to develop, create and contribute. Through free and premium subscriptions, Wix empowers millions of businesses, organizations, professionals and individuals to take their businesses, brands and workflow online,” the company says in a statement.
Wix’s headquarters are in Tel Aviv, with offices in San Francisco, New York
The company founded in 2006 has applied to list its ordinary shares on the New York Stock Exchange under the ticker symbol “WIX.”
J.P. Morgan Securities and BofA Merrill Lynch are acting as lead joint bookrunners for the proposed offering. RBC Capital Markets is acting as other book-running manager and Needham & Company and Oppenheimer & Co. are acting as co-managers.