Wix’s Localization Strategy Yields Significant Growth in Premium Subscriptions in Russia and Brazil
Success evidenced by second quarter collections in these markets which grew more than 26% sequentially
TEL AVIV, Israel, Aug. 27, 2014 — Wix.com Ltd. (Nasdaq:WIX), a leading global web development platform, announced today significant growth in key international markets – Brazil and Russia – as it continues to execute its localization strategy, delivering its market-leading technology to millions of small businesses, organizations and professionals worldwide.
Wix’s localization strategy includes offering its design templates and customer support resources in multiple languages, implementing solutions that allow users to pay in local currencies and with local payment methods and localized marketing and distribution. Key to Wix’s global expansion is the company’s continued emphasis on building strategic alliances with leading payment and distribution partners including Reg.Ru and Yandex.Money (Russia), MercadoPago (Latin America), WorldPay and Adyen (Europe), Softbank (Japan), Cielo (Brazil) and more. Wix’s success is evidenced by significant growth in Brazil and Russia, where second quarter collections grew more than 26% sequentially.
“Serving over 52 million users worldwide, with more than half located in countries where English is not the primary language, has led us to tailor our offering to the specific needs of each market,” said Nir Zohar, Wix.com President and COO. “It isn’t enough to create a catch-all solution. A truly global platform needs to meet users’ unique needs in multiple markets. By localizing the Wix platform, we’re making our solutions more accessible than ever.”
A global company from its inception, Wix’s localization strategy is designed to tailor its product offering to the varying needs of users across the globe. From the product design to payments to marketing, the localization effort is tightly coordinated to create consistency in user experience while accommodating the specific needs of users different markets.
Wix offers over 500 design templates to its users including language-specific versions in Russian, Portuguese and Japanese. Wix’s HTML5 Editor and customer service resources are currently available in 11 languages, and the company accepts payments in nine currencies: US Dollars, Euros, British Pounds, Russian Rubles, Mexican Pesos, Polish Zloty, Japanese Yen, Turkish Lira, and Brazilian Real. Support for more languages and currencies is planned for future release.
This press release contains forward-looking statements, within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, that involve risks and uncertainties. Such forward-looking statements may include projections regarding our future performance and may be identified by words like “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “future,” “will,” “seek” and similar terms or phrases. The forward-looking statements contained in this press release are based on management’s current expectations, which are subject to uncertainty, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Important factors that could cause our actual results to differ materially from those indicated in the forward-looking statements include, among others, our ability to grow our user base and premium subscriptions; our ability to maintain and enhance our brand and reputation; our ability to manage the growth of our infrastructure effectively; changes to technologies used in our solutions or in global, national, regional or local economic, business, competitive, market, regulatory and other factors discussed under the heading “Risk Factors” in the our annual report on Form 20-F for the year ended December 31, 2013 filed with the Securities and Exchange Commission on March 20, 2014. Any forward-looking statement made by us in this press release speaks only as of the date hereof. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise