Wix raises $127 million in IPO

Israeli cloud-based web development platform starts trade on the NASDAQ.

Israeli cloud-based website builder Wix has sold $127 million in shares in its initial public offering and is now trading on NASDAQ.

“We’re outrageously happy and equally proud to announce that Wix just went public and is officially trading on NASDAQ! This is a huge milestone in Wix’s history and in our development from a fledgling start-up into a company servicing over 40 million registered users worldwide,” the company announced on its blog.

Early last month, Wix filed with the US regulators to raise some $100 million in an initial public offering.

Its initial public offering comprised 7,700,000 ordinary shares at a price to the public of $16.50 per share.

Main shareholders before the IPO included venture capital funds Mangrove Capital Partners, Bessemer Venture Partners, Benchmark Capital and Insight Venture Partners.

Wix was founded in 2006 by Giora Kaplan, and brothers Nadav and Avishai Abrahami. The company has headquarters are in Tel Aviv with offices in San Francisco, New York and Dnepropetrovsk.

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About Viva Sarah Press

Viva Sarah Press is an associate editor and writer at ISRAEL21c. She has extensive experience in reporting/editing in the print, online and broadcast fields. She has jumped out of a plane, ducked rockets and been attacked by a baboon all in the name of a good story. Her work has been published by international media outlets including Israel Television, CNN, Reuters, The Jerusalem Post and Time Out.