Boston, MA 03/31/2014 (wallstreetpr) – Adverse market conditions has been cited as the main reason behind Wix.Com Ltd (NASDAQ:WIX) decision to withdraw its earlier proposed offering for its ordinary shares. Subsequently, Wix.com has confirmed it has withdrawn its registration statement on Form-1, which it had filed on March 20, 2014.
The leading global web development platform had already selected JPMorgan Securities LLC and BofA Merrill Lynch as the lead bokrunners for the proposed offering. Shares that were to be sold between the company and existing shareholders had not been determined.
Wix Acquires Code-Free Mobile Commerce Native App Appixia
Wix.Com Ltd (NASDAQ:WIX) recently announced it had completed full acquisition of Appixia, a platform that can be used to build a wide range of native mCommerce Applications. This marks another milestone in the company’s effort to strengthen its technological advantage over its competitors as well as increase its product depth offering.
Both companies provide code-free solutions empowering to small business which should be beneficial going forward to entrepreneurs and individuals who would wish to better manage their businesses. Appixia app will allow retailers to carry out complex and costly development process freely and affordably, with the help of Wix.Com Ltd (NASDAQ:WIX)’s comprehensive cloud based technology, businesses are sure to get a wide range of business solutions online.
What Appixia will be offering to its users
Appixia’s technology will be beneficial in complimenting Wix.Com Ltd (NASDAQ:WIX)’s expansive product suite line while perfectly complimenting the company’s philosophy and offering. Appixia will come hand in hand in enabling users to build and launch feature rich native mCommerce apps on iOS and Android. Wix users continue to build up to 30,000 new sites each day, making site, one of the fastest growing sites in the world.
Winstar launches a new money support system
Wix.com has also announced it has entered into a partnership agreement with Yandex NV (NASDAQ:YNDX), the largest online payment service in Russia. The new partnership is aimed at providing Wix users a new payment system online.
Yandex currently has 16 million accounts and registers the opening of up to 10,000 new accounts each day, second to none in terms of electronic money transfer in Russia. The new partnership will be of help in enabling the company venture into new geographies as part of its expansion strategy.
