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Israel's Wix.com sees 2020 revenue reaching almost $1 billion

Updated: Oct 27, 2022

Wix Revenue:

TEL AVIV (Reuters) - Wix.com, which helps small businesses build and operate websites, reported a smaller-than-expected decline in fourth-quarter net profit and forecast a revenue rise of about 25% this year to nearly $1 billion as it expands into the professional web creator market.


Wix.com, which helps small businesses build and operate websites, reported a smaller-than-expected decline in fourth-quarter net profit and forecast a revenue rise of about 25% this year to nearly $1 billion on Tuesday.


Wix, which went public in 2013 and competes with the likes of Square Inc's (SQ.N) Weebly and GoDaddy Inc (GDDY.N), has been benefiting from a shift by businesses to online platforms as the COVID-19 pandemic boosts demand for websites and digital marketing tools.


"As we enter 2021, small businesses around the world are increasingly turning to professional web creators to build their online presence," Chief Executive Officer Avishai Abrahami said in a statement.


"This presents a huge opportunity for Wix as we continue to invest in our product and go-to-market capabilities."


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