US-Israeli website content developer Wix.com Inc. has raised $3.5 million in its second financing round from Bessemer Venture Partners and Luxembourg-based Mangrove Venture Capital. The company has raised $8.5 million to date.
Wix.com co-CEO Avishai Avrahami and his brother, CTO Nadav Avrahami, founded the company. The company has developed a product that enables users, even without technological know-how to create web content in Adobe Systems Inc.’s Flash and publish it online. The product includes a drag-and-drop editor that enables users to pull in any content from the web or from their own media files (video, audio, animation, text, etc.) and create web content.
In an interview with "Globes" three months ago, Avishai Avrahami said that Wix would not replace the professional web designers. "We won't replace them, but we'll greatly facilitate their work, because they too will save a lot of time and money," he said.
Wix.com launched its beta product in June. Co-CEO Alon Bloch says that more than 200,000 users have downloaded the company's product, and that 2,000 to 3,000 new users join the company daily. He added that Wix-created content pages had 20 million hits in September, 54% more than in August.
Published by Globes [online], Israel business news - www.globes-online.com - on October 15, 2008
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