RAX: Wix makes public IPO filing

Wix makes public IPO filing • 6:29 PM

• Four months after confidentially filing for an IPO, Israeli hosting services/Web site development tool provider Wix has filed a public F-1. The SMB-focused company is looking to raise $100M, and trade under the symbol WIX. JPMorgan, BofA/Merrill, and RBC are the underwriters.
• Wix posted 1H revenue of $34.1M (+80% Y/Y), and had a net loss during the period of $10.1M. Opex rose 65%Y/Y to $37.2M; sales/marketing spend accounted for $22.6M of that figure.
• Wix relies on a "freemium" model, up-selling users of its basic free services on premium options. The company says it has 37M registered users and (as of Aug. 31) 679.5K premium subs. Wix also offers site owners 140 add-on apps through its App Market.
• Potential competitors: DRIV, QNST, RAX, WWWW, RLOC, UNTD, VRSN, VPRT,

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