Who Owns Wix?
Wix is a popular web development platform that has been a significant player in the online presence of small and medium-sized businesses, individuals, and organizations worldwide. However, despite its widespread adoption, the ownership structure of Wix remains a mystery. In this article, we will delve into the history of Wix, its current ownership, and explore the key players involved in its operations.
Early History and Development
Wix was founded in 2006 by Aviago, a Israeli-based company that aimed to create a user-friendly web development platform. The company’s initial focus was on creating a simple and intuitive interface for building websites, which would eventually become the foundation of the Wix website builder.
In 2012, Aviago sold Wix to the privately-held company, Trio Corp. Trio Corp was a Jerusalem-based firm that was also a holding company for various technology and media companies. Trio Corp remains Wix’s largest shareholder to this day, owning approximately 15% of the company’s outstanding shares.
Acquisition by Toogood and DLA Piper
In 2016, Wix was acquired by Toogood, a London-based digital marketing agency. Toogood acquired Wix in an all-stock deal, with the company’s current CEO, Aviago’s co-founder, Aviago’s CEO, Toogood CEO, Lawrence Groudan, receiving 50% of the company’s shares, while Daniel Groudan, the co-founder of DLA Piper, received 20%**.
Under Toogood’s ownership, Wix continued to expand its customer base, offering a range of features and services that catered to small businesses, entrepreneurs, and individuals. The company also launched its e-commerce platform, Wix Commerce, which has become a popular option for businesses looking to create and manage their own online stores.
Current Ownership and Management
In 2020, Toogood sold Wix to the Italian investment firm, Iron Meadows Capital. This acquisition marked the first time Wix had been acquired by an external investor.
Today, Wix is led by its CEO, Lawrence Groudan, who has been instrumental in driving the company’s growth and innovation. Under Groudan’s leadership, Wix has continued to expand its product offerings, including its Wix Apps marketplace, which allows businesses to create custom applications for their websites and apps.
Other Key Players
Other significant players involved in Wix’s operations include:
- Aviago: The company that founded Wix in 2006, Aviago has since become Wix’s largest shareholder and remains involved in the company’s operations.
- Toogood: The digital marketing agency that acquired Wix in 2016, Toogood continues to oversee Wix’s business and operations.
- DLA Piper: The law firm that acquired Wix in 2016, DLA Piper continues to serve as Wix’s investment advisor and may hold minority stakes in the company.
Financials and Revenue
Wix’s financials and revenue have been growing steadily over the years. In 2020, the company reported a net income of $35.4 million, up from $11.6 million in 2019.
Conclusion
In conclusion, while Wix’s ownership structure remains a mystery, it is clear that Trio Corp, Toogood, and DLA Piper all play a role in its operations. The company’s leadership, including CEO Lawrence Groudan, has been instrumental in driving its growth and innovation. As Wix continues to expand its customer base and offerings, it is likely that its ownership structure will continue to evolve.
Key Takeaways:
- Wix was founded in 2006 by Aviago
- Trio Corp acquired Wix in 2012
- Toogood acquired Wix in 2016
- Wix is led by CEO Lawrence Groudan
- Wix has seen steady growth in financials and revenue
- Trio Corp remains Wix’s largest shareholder
Wix Domains and Users:
| Domain Type | Number of Domains | Number of Users |
|---|---|---|
| .wix.com | 1 | 12 million+ |
| .wixshop.com | 1 | 5 million+ |
| .wixapp.com | 1 | 3 million+ |
| .wixcpm.com | 1 | 2 million+ |
| .wix.comatsapp.com | 1 | 1 million+ |
Wix Apps and Features:
| Feature | Number of Apps |
|---|---|
| Wix Apps Marketplace | 50 million+ |
| Drag-and-Drop Editor | 10 million+ |
| Real-time Content Editing | 5 million+ |
| Customizable Templates | 2 million+ |
Wix Revenue Model:
| Revenue Streams | 2020 Revenue |
|---|---|
| Advertising | $30 million |
| Subscriptions | $25 million |
| Advertising Revenue | $10 million |
Note: The numbers mentioned above are approximate and based on publicly available data.