Web development platform Wix.com sets terms for $119 million IPO


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Wix.com, a cloud-based global web development platform, announced terms for its IPO on Wednesday. The Tel Aviv, Israel-based company plans to raise $119 million by offering 7.7 million shares (29% insider) at a price range of $14.50 to $16.50. At the midpoint of the proposed range, Wix.com would command a fully diluted market value of $719 million.

Wix.com, which was founded in 2006 and booked $59 million in sales for the 12 months ended June 30, 2013, plans to list on the NASDAQ under the symbol WIX. Wix.com initially filed confidentially on May 30, 2013. J.P. Morgan, BofA Merrill Lynch and RBC Capital Markets are the joint bookrunners on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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