NEW
YORK, Feb. 15, 2024 /PRNewswire/ -- Wix.com Ltd.
(Nasdaq: WIX), today announced that it has completed $300 million in share repurchases, which received
court approval in December 2023 and
is part of the authorization by its Board of Directors approved in
August 2023.
The Company repurchased 2,401,695 outstanding Wix ordinary
shares, representing approximately 4% of total shares outstanding,
at an approximate volume-weighted average price per share of
$124.91.
Pursuant to its Board of Directors' authorization of share
repurchases of 50% of projected free cash flow through 2025
(excluding costs associated with the Company's new headquarters
office build out), Wix is in the process of pursuing the necessary
approvals for $225 million in
additional share repurchases.
About Wix.com Ltd.
Wix is the leading SaaS website builder platform to create,
manage, and grow a global, digital presence1.
What began as a website builder in 2006 is now a complete platform
providing self-creators, agencies, and enterprises, with
distinguished performance, security, and a reliable infrastructure.
With a focus on continuous innovation, a wide range of commerce and
business solutions, advanced SEO, marketing tools, and
industry-leading AI technologies, Wix users have full ownership of
their brand and unmatched creative freedom. Complimenting the
Wix platform for self-creators, Wix Studio is an advanced
creation and management platform for agencies and freelancers.
For more about Wix, please visit our Press Room at
https://www.wix.com/press-room/home.
Investor Relations: ir@wix.com
Media Relations Contact: PR@wix.com
1 Based on number of active live sites as
reported by competitors' figures, independent third-party-data and
internal data as of Q3 2023.
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SOURCE Wix.com Ltd.