Co-Founder & CEO, Wix.com
Wix.com CEO: Opening Our Platform | Mad Money | CNBC
Wix has been struggling with the rest of the tech sector, but could its stock stock still have you blogging right to the bank? Jim Cramer gets the latest on the cloud-based company in an interview with the CEO.
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About Avishai Abrahami
Avishai Abrahami, co-founder and CEO of Wix, has been discussing the company's growth, the impact of artificial intelligence on web development, and his management philosophy in several recent interviews. In April 2025, Abrahami stated that Wix sees about 1.5 million new users joining each month and has over 300 million registered users. He noted that while high interest rates have made it harder for small businesses to start and have affected Wix's customers, the company continues to see demand because a website is a critical part of a business. Abrahami also commented on the state of AI, saying he believes large language models will become a commodity and that "none of us will remember LLMs in five years." He expressed skepticism that AI can be controlled, stating, "I believe there's no chance we will be." Abrahami has also spoken about his approach to running Wix. He said he reviews about 130 pages of metrics monthly and 30 pages weekly, arguing that simplifying measurement to only ten things means "they don't know what they're doing." He emphasized the importance of maintaining company culture and not adopting habits from less successful companies. In a 2022 engineering podcast, Abrahami described his hands-on involvement in coding sessions aimed at dramatically reducing the amount of code needed for services, with a goal of making projects that took months take days. He has also discussed Wix's history, noting that the company went public in 2013 with 32 million users and 550,000 subscriptions, and that by 2016 it had grown to 86 million users and over 2 million subscriptions.
Transcript (27 segments)
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Jim Cramer0:05
Good day for the averages like this one. What do we make of the stocks that stubbornly refuse to levitate? Look at the stock of Wix. It's the cloud-based web design company that helps both regular people and small businesses create their own sites. The rest of the cloud cohorts roaring here, but Wix remains a laggard for the moment. It's down three dollars and 41 cents today. I've scoured everything, nothing in particular, institutional chatter about selling. I mean, I think that this story is a solid one and maybe you're just getting a chance to buy it when it's underperforming. Now, until roughly three months ago, Wix was a fabulous performer. The stock more than doubled year-to-date going into September thanks to a series of strong quarters. Like many of its cloud-based peers, the stock got annihilated during the market meltdown. I like the other cloud plays, this one has yet to rebound. Why not? We reported a month ago, the numbers were solid, but the stock just can't seem at this moment to get any traction, even if Wix announced a new suite of small business software last night that we have to hear about. So let's take a closer look at this one with obviously Avishai Abrahami, here's the co-founder and CEO of Wix, a visionary in this business. Find out more about how his company's doing, where it's headed. Mr. Abrahami, welcome back to Mad Money. Good to see you, sir.
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Avishai Abrahami1:11
Thank you.
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Jim Cramer1:12
I had to put the stock in context because I can't find any reason why. I mean, your stock went up big, the new products are great, the numbers are talking about 20% growth. You have 137 million registered users.
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Avishai Abrahami1:23
Yes, we do. Actually, we think we're just across 140 million, so that was from the last quarter.
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Jim Cramer1:29
And all over the world, right?
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Avishai Abrahami1:30
All over the world, 190 countries.
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Jim Cramer1:32
How many languages?
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Avishai Abrahami1:34
We support 17 languages just in our product, but people can load into that whatever language they want. So we have, I think, about 300 languages that we detect used by people on Wix.
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Jim Cramer1:44
Well, I know the numbers are great. Here's something you and I have not talked about: your company empowers the little guy to look every bit as good as the big guy. I defy anyone to be able to tell whether one company's rich and the other company's poor if they both use Wix.
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Avishai Abrahami2:01
It is true. You know, we focused a lot on giving the tools to have the small guys fight against the big competition, like by having amazing websites and everything they need to supply a high-quality service for their customers.
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Jim Cramer2:13
All right, so I put this new product, Ascend. What's it going to do?
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Avishai Abrahami2:17
You know, when you build a website, right, the next thing you want to do, right, is start bringing customers. Yes. And then you have to communicate with this customer, tell them what's going on, chat with them, send them messages. And this is what Ascend is. It's a way for you to bring more traffic to your website, okay, and then it's a small CRM and communication tools to talk with your customers. Basically, took what would normally be 20 different products and integrated them into one consistent experience.
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Jim Cramer2:44
Well, that's amazing. How much will that be per month?
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Avishai Abrahami2:47
Starting price is $20. The most expensive package is about $40.
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Jim Cramer2:50
I don't think people realize the bargain that you have because we use you in both our restaurants. It's just not expensive. I mean, you manage to keep it at a low price. How do you do that? Frankly, because I know you hiked the price for some older plans, you got rid of a lower tier, but you don't cost that much.
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Avishai Abrahami3:06
So we believe that, you know, if we have a really good product, right, and people just learn how to use it and then reuse it themselves, we reduce support and cost of support and marketing. And by doing that, it enables us to deliver a great service with a reasonable price.
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Jim Cramer3:22
Okay. I am very interested in payments. You say you've got a payment system in Brazil. You use the term 'massive adoption.' Tell me about it.
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Avishai Abrahami3:30
Yeah. So we didn't ask the full numbers yet, but we're saying that in Brazil, it's very hard if you want to, if you have an online business and you want to be able to charge credit cards, right? It takes about between three to six months traditionally. It's completely, completely insane. So we did something that you can just go and do it in 20 minutes, right? That's the thing. You just put your email, set up, boom, you're done. You can start charging money. And now we're taking this and we're gonna offer it now also in the United States and Europe. So I mean, the United States obviously, it's easier, much more easy to charge money online, but we do believe this product brings a lot of additional benefits.
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Jim Cramer4:10
Okay. About Code. So Code, for us, is one of the most amazing things.
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Avishai Abrahami4:13
Code is very ambitious. We now open it so people can program in two weeks, right? So you can actually build anything you want on top of the Wix platform, right? And we take care of your databases, the security, everything else, we do it for you. So to build an application, right, instead of renting servers, taking databases, configuring all of the things, you can just go and use the Wix UI to build something, a new line of code, and it's ready.
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Jim Cramer4:40
Now, I think that maybe Wall Street wasn't ready for the fact that you decided to drop the lowest tier, that you'd rather just have a lot of good, high-paying customers. I mean, that makes a lot of sense. I guess people didn't understand you guys. You have 26% growth in premium subscriptions. It's a fantastic business description. Why do the others...?
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Avishai Abrahami5:00
Well, the way we look at it is that we had to steer where we had advertising, small advertisements for Wix, and it just didn't make sense. A lot of the press were complaining about it. We got a lot of people saying, 'I'm paying you, why do I still have it?' I said, 'Well, so we cannot sit.' Okay, let's get rid of it. I think there was a very, very small influence on the total amount of premium subscribers, but revenues actually up.
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Jim Cramer5:22
Okay. One last thing. I need you to talk about the idea that there are some people, a lot of people are using this Code. There's some people have it four times, you said multiple subs. What that really is is that you've got a lot of professionals using Wix.
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Avishai Abrahami5:34
Yes, yes. We have about 50,000 people that we believe are building websites for other people. They refer people. If you describe, yeah, we don't undo their self, right? There's none come to us and said, 'I need help.' We refer them to one of those resellers, so two designers or developers want to build sites for them.
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Jim Cramer5:52
And how do you find those? Because I thought that was fascinating. Because I said to my wife, 'I don't know how this works.'
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Avishai Abrahami5:59
So a lot of them just approach us and come to us and ask us, 'Can I find some designer?' or 'I am a designer.' And we just match them. So we have a place called the Wix Arena where you can just go around, browse, and find a lot of them.
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Jim Cramer6:09
Well, you know, you're a godsend for small businesses like us who just frankly are over our heads. But we're not anymore. And you should try them. It will actually help you maintain this relationship with your customers. No one did birthday, you send them gifts. It's good. It integrates both. Thank you so much. That's Avishai Abrahami, he's the co-founder and CEO of Wix.com. There's no reason why this knocks me down. Some sort of macro reason that somebody didn't like high-growth stocks. Been buddies back here. Oh yeah, Jim Cramer here from there, buddy. Thanks for watching. See me, see you on YouTube. Click here to subscribe and get the jump on my exclusives with CEOs, plus market news, investing advice, and a whole lot more.