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Wix.com Sees a Surge in New Users Amidst Shelter-in-Place Orders

Nicholas Rossolillo, The Motley Fool
·5-min read
Wix.com Sees a Surge in New Users Amidst Shelter-in-Place Orders

Often overlooked because of its larger and higher-growth peer Shopify, e-commerce enabler Wix.com (NASDAQ: WIX) had a great first quarter of 2020. As for the headline numbers, Wix's results were in line with management's expectations outlined at the beginning of 2020. Revenue grew 24% to $216 million, driven by a 17% increase in "Creative Subscriptions" (the basic cloud-based web designer platform) to $177 million, and a 72% increase in business solutions to $39.4 million.

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