The Israeli web design company Wix sold over 7 million shares allowing them to raise $127 million in a celebrated debut on the Nasdaq today. According to an article written by John Koetsier at Venture Beat, shares settled at $16.46 each after reaching above $17.50 briefly. The report indicates that Wix is valued at approximately $750 million.
The Tel Aviv-based company collectively employs over 400 between its offices in Israel and the United States. Site templates and web apps are created to assist their clients and business customers to quickly build a website without coding knowledge, according to Venture Beat.
In the article, Wix CEO and founder Avishai Abraham was quoted to say, "It's a great day for Wix, and I'm so grateful for our amazing team and the hard work that's led to this day." Koestier continues to write that Wix currently has over 40 million users in 190 countries.