The share price of DIY website creator Wix.com Ltd. (Nasdaq: WIX) jumped in heavy trading yesterday, after the company announced that its HTML 5 website editor had reached 46 million users, on its second anniversary. The share price rose 7.8% on Wednesday, following the announcement, to $22.75%, giving a market cap of $853 million, 38% above its IPO price, but 27% below its record price.
Wix said that it marked the anniversary with a new suite of HTML5 design, animation and interactive features, allowing Wix users to add a dynamic new dimension to their websites.
At the end of 2013, Wix had 42 million users, of whom 790,000 were paying premium users.
"Once we were certain an HTML5 platform would have the capability to deliver and exceed what we created on Flash, we set out to develop it. The core value of Wix has always been to simplify the web creation process for everyone, but the transition to HTML5 enabled us to do so much more: create an all-inclusive platform that lets anyone run their entire business online," said Wix CEO Avishai Abrahami. "While it was a challenging and technologically complex move, we succeeded in creating a robust web development environment without taking anything away from the beautiful and professional end result that our users have come to expect from Wix."
Published by Globes [online], Israel business news - www.globes-online.com - on April 10, 2014
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