Leading business news blog DigitalOlympus.com has commented on recent reuters.com news story regarding Israel-centered firm, Wix.com Ltd, which filed with the United States regulators to procure close to $100 million in an IPO.
Long Island, NY -- (SBWIRE) -- 12/03/2013 -- Going by a recent news story by Varun Aggarwal published on October 1 on reuters.com concerning Wix.com Ltd, which assisted firms to build and operate websites, filing with the U.S. regulators to generate up to $100 million via an initial public offering, DigitalOlympus.com comments on the report.
According to the reuters.com news story, the Israel-centered firm which sells its cloud-centered templates to design websites to small business owners, revealed revenue soared to $43.7 million in 2012 from $9.9 million 2009. While net loses broadened 30 percent in that period. Wix whose App Market permits firms to install over 140 different apps on their websites, disclosed that 37 million businesses, organizations, professionals and individuals makes use of its platform.
In a statement following the report, DigitalOlympus.com principal researcher Josh Cole commended the move of Wix.com Ltd to file its IPO with the US regulators. “Wix has taken the first step in the right direction; other firms willing to take such steps can seek expert’s advice about business intelligence to arrive at the right decision.”
The reuters.com news story further indicated that Wix plans to use the net earnings from the IPO to bolster headcount to boost its selling and marketing expenses focused and for general corporate reasons. The firm plan to list its common stock on the New York Stock Exchange under the symbol "WIX." The firm did not disclose how many shares it intends to sell or their anticipated price.
DigitalOlympus.com spokesperson says while Wix can achieve its aim of generating up to $100 million via an initial public offering. “It’s advisable for the firm as well as other firms in similar situations to employ a firm that specialize on how to avert the violation of foreign corrupt practices acts since its business is based in Israel and its IPO is listed in the New York Stock Exchange.”
As a finance and technology research firm, DigitalOlympus.com is committed to promoting the adoption of asset search policies and procedures that can help companies improve their practices with respect to records and internal controls.
DigitalOlympus.com is a news blog dedicated to educating its readers on the latest technology and business advances. They are committed to gathering information on up and coming technologies and business decisions that will enhance the lives of their readership. Digitalolympus.com is always at the forefront of technology, and business news and events guiding its readers to accurately determine the best course of action for themselves and their businesses.