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Wix.com Ltd. (NASDAQ: WIX) is a leading global software platform that empowers millions of users to create, manage, and grow their online presence. Founded in 2006, Wix has grown exponentially and now serves millions of small businesses, organizations, professionals, and individuals across 190 countries. The company offers a robust cloud-based platform that includes a range of products like Wix Editor and Wix Studio, catering to users with various levels of technical expertise.
Wix operates on a freemium model, providing both free and premium subscription plans. The platform's core features include an intuitive drag-and-drop editor, a highly curated app market, mobile-optimized websites, and advanced SEO tools. These features enable users to build and manage fully integrated and dynamic digital presences without needing extensive technical skills.
Recently, Wix launched several innovative products to enhance user experience further. Wix Proposals, powered by Prospero, offers seamless proposal creation and management. The newly released AI Portfolio Creator utilizes advanced AI technologies to streamline the creation of professional online portfolios. Additionally, Wix introduced AI-powered image enhancement tools like the AI Image Creator, Object Eraser, and AI Image Editor, which assist users in creating high-quality, customized visual content.
Wix's financial outlook remains strong, with robust growth in revenue and free cash flow. As of Q1 2024, the company reported a significant increase in revenue and an optimistic forecast for the rest of the year. The company continues to innovate and expand its offerings, recently making its AI Website Builder available in multiple languages to cater to a global audience.
Wix's commitment to making the internet accessible to everyone has resonated well, resulting in a substantial user base and strong financial performance. The company also engages in strategic partnerships and acquisitions to continually enhance its platform. For more about Wix, visit their Press Room.
Wix (Nasdaq: WIX) has launched Spaces by Wix, a native mobile app designed for customers to engage and transact with businesses using the Wix platform. This app aims to enhance mobile interaction, as 70% of customers reportedly prefer mobile engagement. Wix users can easily create a personalized app experience for their customers, enabling features such as product purchases, appointment bookings, and community interaction. Over 5 million downloads have been achieved, with business owners reporting significant increases in engagement, purchases, and bookings.
Wix (Nasdaq: WIX) has announced an expanded integration with Google, allowing users to manage their Business Profile directly through the Wix platform. This integration aims to simplify the business management process for users, enabling them to create, verify, and update their profiles without switching platforms. Benefits of an updated profile include a 70% increase in location visits and a 50% higher likelihood of purchases. This partnership emphasizes Wix's commitment to enhancing its users' online presence.
Wix (Nasdaq: WIX) announced the acquisition of Miami-based SpeedETab, enhancing its Wix Restaurants platform. This acquisition aims to streamline online ordering and management for restaurants, integrating with various POS systems. Wix Restaurants experienced significant growth, with a 143% increase in restaurants selling online and a 378% rise in online orders over the past year. The acquisition will provide a comprehensive solution for restaurant owners, allowing seamless order management across multiple channels, thereby supporting their digital transformation in the industry.
Wix (Nasdaq: WIX) has achieved a significant milestone, surpassing 200 million registered users globally as of February 2021. In 2020, the platform gained 31 million new users, largely driven by the surge in online business activities due to the pandemic. Wix's online commerce platform saw a remarkable 126% growth in Gross Payment Volume (GPV), reaching $5.4 billion. The company aims to continue investing in product development and customer care to maintain this momentum into 2021 and beyond.
Wix.com Ltd. (Nasdaq: WIX) announced its presentation at the 2021 JMP Securities Technology Conference on March 2, 2021, at 10:30 a.m. EST. The event will include a live audio webcast and an archived replay available on Wix's investor relations website. Wix is a leading cloud-based website development platform with over 200 million registered users. The company aims to make web development accessible, offering tools like the Wix Editor and Velo by Wix for businesses and individuals to create and manage their online presence.
Wix.com Ltd. (Nasdaq: WIX) announced its record-breaking financial results for 2020, with total revenue reaching $988.8 million, a 30% increase year-over-year. The company exceeded guidance in revenue, collections, and free cash flow, reporting collections of $1.102 billion. Notably, Wix added over 31 million new registered users in 2020. The company forecasts 37-41% collections growth for Q1 2021 and 30-32% for the full year. Despite these successes, Wix reported a GAAP net loss of $(216.5) million for 2020, an increase from $(86.4) million in 2019, highlighting the continued investment in customer care and hosting.
Editor X, launched by Wix, emerges from beta as the world's first fully collaborative web creation platform. With 200K users, it introduces features like concurrent editing, enabling multiple users to edit simultaneously. The platform enhances collaboration with live commenting, advanced roles, and shared design libraries, boosting design team efficiency. Users can create unlimited sites for free or upgrade for premium features. This innovative solution aims to revolutionize web design workflows.
Wix.com Ltd. (Nasdaq: WIX) will announce its fourth quarter and full year 2020 results before the market opens on February 17, 2021. A conference call will take place at 8:30 a.m. ET that day, where management will discuss financial results with shareholders. Prior to the call, Wix will release a press statement detailing these results alongside a shareholder update. Interested parties can access the webcast and further details on their investor relations page.
Wix.com Ltd. (Nasdaq: WIX) announced a virtual Management Update scheduled for December 9, 2020, starting at 11:00 a.m. ET. Key management team members will present key accomplishments and discuss growth drivers for 2021 and beyond. This event will be accessible live and via archived replay on the Company's Investor Relations webpage. Wix supports over 189 million registered users globally with its cloud-based website development platform, further enhancing its digital presence capabilities.
Wix.com Ltd. (Nasdaq: WIX) announced that CFO Lior Shemesh and GM Joe Pollaro will present at the 2020 RBC Global Technology, Internet, Media and Telecommunications Conference on November 17, 2020, at 9:20 a.m. ET. The presentation will be available as a live audio webcast and archived replay on Wix's investor relations website. Wix is a cloud-based website development platform with over 189 million registered users worldwide, empowering individuals and businesses to create a digital presence.
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