Not much more was released from the company’s announcement and it’s doubtful that it could even say anything else without violating the Securities Act of 1933. It’s worth noting that this is the first step in the process before a company can go public. Its statement must now be reviewed by the SEC.
Known as a service to help build websites, Israel-based Wix has more than 34 million users around the world and is adding more than 1.3 million new users monthly.
Since it’s launch back in 2006, Wix has been continuously making updates to its product to help consumers and businesses set up their home on the Internet. Wix has been integrating multiple services to help maximize the visibility of websites. It recently signed a deal with Google to enable users to purchase Google Apps for Business. Last October, it also unveiled an app marketplace for third-party developers so that users of the service could add features like Google Maps, LiveChat, PayPal widgets right onto their site.
Wix has also managed to keep ahead of the curve by no longer relying on Flash in website development, instead giving users an HTML5 site builder so that webpages are optimized for not just all browsers, but mobile devices.
The company has 400 employees with offices in Tel Aviv and in San Francisco. It’s run by Avishal Abrahami, Nadav Abrahami, and Giora Kaplan. Wix has received $58.5 million in funding from investors like Bessemer Venture Partners, Mangrove Capital Partners, Benchmark, Insight Venture Partners, and DAG Ventures.
The company’s full statement is below:
Wix.com Announces Confidential Submission of Draft Registration Statement for Initial Public Offering
SAN FRANCISCO, CA, – June 4, 2013 Wixpress Ltd., a leading web development and design platform, commercially known as Wix.com, announced today that it has confidentially submitted a draft registration statement to the U.S. Securities and Exchange Commission for a possible initial public offering of its ordinary shares. The proposed offering is expected to commence after the U.S. Securities and Exchange Commission completes its review process, subject to market conditions and other conditions.
This announcement is being made pursuant to and in accordance with Rule 135 under the Securities Act of 1933. As required by Rule 135, this press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
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