Wix Reports First Quarter 2021 Results
- Strong start to the year with revenue and collections growth exceeding expectations Q1 21 Revenue of $304 million, up 41% y/y Q1 21 Collections of $351 million, up 41% y/y
- Continued strong demand across all types of users and online commerce businesses drove accelerating growth and cohort monetization Increased conversion of users to subscriptions and increased collections per subscription drove record Q1 2021 user cohort collections of $36.5 million, 32% higher than the Q1 2020 user cohort in its first quarter Creative Subscriptions Revenue and Collections were both up 28% y/y, accelerating sequentially and over the year ago quarter
In this video, I will be making the case that
Wix (NASDAQ:WIX) is a better buy than
Shopify and explain why Wix is much more than e-commerce.
What is Wix?
Wix helps you set up your website, online store, blog basically your digital presence. The main competitors are not just e-commerce websites such as Shopify and Amazon but also social media channels such as
Twitter, Instagram, and
Facebook. Because let s face it, do you really need a website if you re an influencer or freelancer?
But if you re a small business or a business, the answer is yes.
Business and creative solutions
23 February 2021, 2:15 pm EST By
Wix is one of the largest and most well-known web development platforms on the internet today. You may have even seen commercials for the brand on television, or while browsing through YouTube. If you have seen their videos, you will likely also remember them using a celebrity as their case study.
The reason for this is that the Wix eCommerce Site Builder has made it so extremely intuitive for anyone to create an ecommerce site, that they want to get the word out as quickly and effectively as possible. By using a celebrity (who would likely have no tech or design skills), they are showing how quick and simple it is to create a site in just a few moments time.