$189.41 per share was the Wix (Nasdaq: WIX) stock price on the 14th of May that already had been showing the growth after announcing Q1 2020 earnings report. Eventually, the stock reached more than $200 by doubling the total volume. The Q1 revenue significantly grew from the beginning of the lockdown as people need more online presence. In April 2020 the number of new users reached an all-time high: 3.2 million – 63%.
Avishai Abrahami, Co-founder and CEO of Wix says, “The COVID-19 crisis has forced a massive change upon our users. The need for SMBs, entrepreneurs, and brands to move online quickly, to communicate with their customers, and to deliver goods and services has never been clearer. Demand for our platform offerings boomed at the beginning of April, and I am extremely proud to say that our team responded quickly to make sure we can deliver the best service to our users across the globe.”
There are many online platforms that offer similar services like Wix. They are WordPress, Joomla, Blogger, Ghost, Medium, Tumblr, Google Site, and so on. Each of them has a unique approach in creating interactive sites for new registered users and COVID-19 is also opening opportunities to them in getting new clients.