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Omer Shai – The Wonderful World of Wix – interview – Goldstein on Gelt – Jan. 2012

Omer Shai – The Wonderful World of Wix – interview – Goldstein on Gelt – Jan. 2012

Building Websites the Easy Way Transcription of interview with Omer Shai
on February 6, 2012 Douglas Goldstein, CFP®, Financial Planner
& Investment Advisor Omer Shai is the vice president of marketing
for Wix, an internet company that allows the user to create his own website. It’s very easy to use and it’s meant to
help people to set up a high quality website very quickly. He has been in the internet world for about
11 years. Douglas Goldstein, financial planner & investment
advisor, interviewed Shai on Arutz Sheva Radio. Omer Shai: Wix is an online platform that
enables users to create stabilized websites by themselves. It’s a do-it-yourself platform, so everyone
can create a website by themselves and not only a website, but a website that you’re
proud of and looks beautiful. Douglas Goldstein: There’s a cool technology
you’ve got going on behind it. Can you tell us how that works? Omer Shai: We developed a specific platform
that’s based on Flash. The advantage of using Flash is the opportunity
for the user to create a really beautiful standout website with standout elements. We also created hundreds of relevant templates
for the users. So for example, if you’re a real estate
agent or a broker, you can find relevant beautiful templates to start with or you can start from
blank and create your own website in the ways that you think of and actually get it by yourself. Douglas Goldstein: There are platforms that
don’t use Flash, like the iPAD and the iPhone. How do you deal with that? Omer Shai: We developed additions to our current
platform, and we developed a mobile website builder solution so that every user can create
his own website for users who are on a desktop or laptop. We also have a mobile solution, so everyone
can create a dedicated mobile website for users who are on devices like iPAD and iPhone,
and also Android. Although it supports Flash, we believe as
a company that it’s good to create a dedicated mobile website because of the need of the
user. Douglas Goldstein: Do you think that other
platforms like the iPhone and Android will eventually start to use Flash, or is it possible
that Apple will never make a deal with Adobe to do that? Omer Shai: I don’t think that Apple and
Adobe will do a deal about implementing Flash inside Apple products. That’s why we are in the process of developing
an HTML5 platform, so that the user will have the option to choose if they would like to
create the website through Wix on the Flash or if they would like to build an HTML. We have some beautiful websites on our platform. The user will have the option to choose between
an amazing Flash website and amazing HTML website. Douglas Goldstein: Is this the type of thing
that any size of business should use, or is it really only meant for smaller businesses? Omer Shai: It depends on the business and
what your goals are online. If you would like to create a portal like
the New York Times, then Wix is not for you. It’s best for small businesses with 50 employees
or less that would like to make their business beautiful. We are really strong in restaurants, consumers,
consultants, and marketing, as well as small office businesses and businesses with under
50 employees. Douglas Goldstein: Do you yourself use the
Wix platform for the Wix website? Omer Shai: Yes. As a marketing message, we are telling our
users all the time that we as a company are using the same platform. We create a landing page for marketing activity. We are creating a lot of auditing with the
Wix platform. Douglas Goldstein: When a small business decides
to set up a website or create an online website or online store, there are many platforms
out there. Are there any fundamental differences between
going one way or the other, or is it all the same and just a question of which you find
prettier? Omer Shai: There are also other options to
choose from, and not only Wix and Word Press. The difference between Wix specific to Word
Press is the level of the user’s ability. On Word Press, you need some technology background,
but with Wix you don’t. Other differences between us and our competitors
are the ways to build a beautiful website. Our goal in the company is not only to put
you out there, not only that you can create a website. Our goal is to give you the option to create
a beautiful website, to stand out from your competitors. If someone will come to your site, he won’t
think that you did it by yourself and he will be sure that you paid like 10k to 15k for
design of this website. Douglas Goldstein: If someone sets up an online
business today using the simplicity of Wix, what do you think are the odds that they will
actually succeed as the business? Omer Shai: I think that building a website
is only the first step, and the second one is the online marketing and the way to bring
traffic to your site. A lot of beautiful and good websites out there
are without any visitors. There is a lot of methodology to bringing
traffic to the site, and we try to help our user with that. Every user that is going premium gets 75 bucks
to Google AdWords, 50 bucks to Facebook advertisements, and a lot of other activities. We’re trying to encourage our users not
only to go out there and build a beautiful website, but to also promote themselves out
there. Douglas Goldstein: You give a lot of service
away to your premium members for free, and you also in fact give away the whole system
for free. So how are you making money? What’s the business model of Wix? Omer Shai: The Wix business model is based
on premium. For someone who is not familiar with this
term, our goal is to bring almost all our features for free, and we’re giving the
user the option to create unlimited websites with all the features totally free. The URL of the website is going to be www.wix.com/UserName/DocumentName
and there’s going to be a mention on the side that this site is made for free with
Wix.com. If the user is happy with the service and
the website and he would like to connect on domain and remove Wix branding from the site,
then he is going to pass on between 10 and 14 bucks per month, almost a cost of a regular
hosting service. I would like to just mention that there is
no other advertising on a Wix site except to the Wix plan. This is something really important for us
and we’re going to stay with it as it is. We are not trying to encourage our users to
upgrade to our premium features. We just believe that if the user is happy
and would like to bring traffic and would like to put his name out there, he will pass. Douglas Goldstein: Can a user put Google Ads
on his own site and collect revenues that way? Omer Shai: Yes, he can, and there is an HTML
area where he can put any widget that he would like. Google Ads also sends you an option of other
platforms that you can implement to the Wix site. Douglas Goldstein: If a person were to register
his website with Wix, and then Wix goes out of business, would the user then lose his
URL? Omer Shai: This is a question that we are
facing from our first day out there. What would happen to our site if Wix is going
to go bankrupt? You own the domain name, not Wix.com. So even if we were to go bankrupt – although
we are not going there – you will have the option to keep your site up and running. In fact, I don’t know if I mentioned before,
but last year we raised $40 million, and we are doing pretty well in terms of revenue,
so there’s no reason to be worried about this issue. Douglas Goldstein: Are there currently any
investment opportunities for people who want to get on board with you? Omer Shai: Not right now. We are really happy with our current investor. We raised money from Bessemer, Benchmark,
Mangrove, Insight Venture and DAG. We’re really happy with our current investment
and currently we are not looking for a new investment. Douglas Goldstein: What’s the best way for
people to learn more about the company? Omer Shai: It’s really easy, you just need
to go to www.wix.com and just start creating your website. Douglas Goldstein, CFP®, is the director
of Profile Investment Services and the host of the Goldstein on Gelt radio show (Monday
nights at 7:00 PM on www.israelnationalradio.com. He is a licensed financial professional both
in the U.S. and Israel. Securities offered through Portfolio Resources
Group, Inc., Member FINRA, SIPC, MSRB, NFA, SIFMA. Accounts carried by National Financial Services
LLC. Member NYSE/SIPC, a Fidelity Investments company. His book Building Wealth in Israel is available
in bookstores, on the web, or can be ordered at: www.profile-financial.com (02) 624-2788
or (03) 524-0942. Disclaimer: This document is a transcription
and/or an educational article. While it is believed to be current and accurate,
divergence from the original is to be expected. The original podcast can be heard at https://sites.google.com/site/goldsteinradioshows/. All information on this website is purely
information and should not be used as the sole basis for making financial decisions. The opinions rendered herein are those of
the guests, and not necessarily those of Douglas Goldstein, Profile Investment Services, Ltd.,
or Israel National News. Readers should consult with a professional
financial advisor before making any financial decisions. Please see the complete disclaimer at https://sites.google.com/site/goldsteinradioshows/.

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