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WIX Wix.com

Participants
Maggie O’Donnell Director, Investor Relations
Avishai Abrahami Chief Executive Officer and Co-Founder
Nir Zohar President and Chief Operating Officer
Lior Shemesh Chief Financial Officer
Maya Hagoel Investor Relations
Brent Thill Jefferies
Ken Wong Guggenheim Securities
Sterling Auty JPMorgan
Ron Josey JMP Securities
Naved Khan Truist Securities
Nat Schindler Bank of America
Jason Helfstein Oppenheimer
Ygal Arounian Wedbush
Nick Jones Citi
Chris Kuntarich Deutsche Bank
Call transcript
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Operator

Ladies and gentlemen thank you for standing by and welcome to Wix Fourth Quarter and Full Year 2020 Earnings Call. [Operator Instructions] I would now like to turn the conference over to your host, Maggie O’Donnell, Director of Investor Relations. Please go ahead.

Maggie O’Donnell

Thanks, Sara. Good morning, everyone and welcome to Wix’s fourth quarter and full year 2020 earnings call.

discuss Nir are COO; Zohar, Shemesh, CFO. to CEO Abrahami, and today our Co-Founder; and our me our Avishai results our Lior Joining President and

not statements may Please our assumptions. the actual any could materially statements. most risk undertake our differ statements During recent expectations in consider make from included results statements. release call, on current to update we and this We to these cause these these press are factors Form based and that do forward-looking obligation forward-looking and XX-F forward-looking

we In and comment addition, operating will results on non-GAAP key financial metrics.

find that, and GAAP and our I the call will can our Avishai Investor non-GAAP materials Center reconciliations Analyst of earnings the now some on turn the You Avishai? between to opening remarks. Interactive Relations over all With results for investors.wix.com. our section in website

Avishai Abrahami

joining thank everybody and Good you morning, today. for us

I best think obvious look that of you say this the ever. kind it’s year at numbers, that if was our to

So, because e-commerce that I multiple it’s things we And that that more want have that other incredible, also the for right, on to build and new businesses more are compounding, that on more more doubling obvious sell now But of those revenue less is that than the have really and all kind even might add doubling build be of payments. this partners, course, adding present that’s on two streams more and we they people that more us. you and partners websites. hand, point nature, from more have the out both, they to which Both growth people – exciting excited Wix because business things websites, e-commerce, more and are about then by for get of others. we that, I than than even growth websites building new

actually are a to much big expanding this wider. be we turning So point where as is Wix, our for us, offering

kind of if the in I half the Internet you and the In believe of at rate renewal be Internet, the Wix and that years, on – the growth Internet a online of achievable, that new the assume it’s I fact, and size of built presence on bit look well on you right. X – things of think about but all ambitious that on maybe will Wix. things

if really It’s course And the exciting. released super amazing Internet In forward. a such of a to have I that is confident it new about that we CEO to as the fact, positions of such place great then that of in all it something see so for that Wix, going we me, us things I of this in to achieve. should core am part we have execution, this is continue say be you the growth and that

everybody. back joining for you will with So us. And thank you, Thank to I Maggie. that, go

Maggie O’Donnell

you, Alright. Thank Avishai.

Q&A. I Operator? think are ready for we

Operator

of Thank question the Jefferies. you. [Operator Brent line Thill from Our Instructions] comes first with

open. is now line Your

Brent Thill

but businesses, of startups smaller you. beyond to of just how us terms service see can update Thank starting and traction moving are and much… in your the small vision only and mid-enterprise just upstream vision you Avishai, enterprise, to not you the

Avishai Abrahami

course. Of

directions, So a goes right. actually, different in this few

the Editor Wix. a you So it’s It them, of can the first the huge also fits product build thing well. great that, is website X, right. But is offering. so beyond allows challenge have build that which product has with today that customers with everything work a websites that And they themselves, of stack pretty And those today, much the is all all because very it complex for business website this of way this with offering sophisticated happened somebody and below back what most ability the create year. as would serve does ability to to to design to the partners, to in they do our actually this end the to existing that, the enterprise use see you most Velo your larger connect the course, your not going

it’s we to So really are for exciting. me, starting And already see.

ago shared some Wix. companies have X and launch X examples the Editor We on starting more more we larger to are really weeks using and see

Brent Thill

Thank you.

Avishai Abrahami

Of course.

Operator

Thank you.

comes Our Sterling of the from line next JPMorgan. Auty with question

line open. now Your is

Sterling Auty

Hi, guys. thanks. Yes,

from question one side. my Just

to customer, are payments, Looking the get in And at as company allowed the long from the business beginning what’s the of customer first rates, in being level the you those am to for it’s and really materials, rate a to ramp when on when rates? do around those levels? take steady take curious on hold you those to impressive as you presentation discussion those rate they payments Payments? I levels a take you you start Wix with comes Are have,

Nir Zohar

Hey, Sterling, it’s Nir.

expansion it traded from platform ramp customer, so you I at you And we improve the But seen you look apply take the rate I thank actually, doing actually the When it’s the a have ongoing So obviously, internationally. don’t that platform great We higher also a rate. far. sure XXX% overall are time relatively question is increase rate to the to our going start we a and on to then platform to at improvements and improving take the am it over as take the you early. ability up. you as comes think specific that

Sterling Auty

you. Thank it. Got

Operator

you. Thank

with comes next of Josey from Securities. line question Our Ron the JMP

is open. Your line now

Ron Josey

the Ascend maybe Can rate talked the Is users, pretty revenue strategy start using or subscribers would code Xx taking these they Thanks once a That of see immediate? XXXX increase online rate to was product? maybe, of in about you subscribers G-Suite declined about a question. Lior, quarter, helpful. sequentially of of terms Ads. XX% growth? of newer talk how new customers And bit talk terms think with a the new Great. here? that subscriber subscribers. in just or next can XXX,XXX then Thank I from I little have maybe the for you journey the commerce they Facebook And you similar a just products? commerce the and of those adopting Maybe subs, about to new about just impressed adopting for something question couple subscriber this you. over graduation the more I be this months just Is and about on the something think this goes subscribers happens I ask and

Avishai Abrahami

Of course.

saying start add it. new with time as to e-commerce of extend will So I time with business. very they will most things and a And that the basic is was – very basic people a passes,

like and everything. not day one come it’s you in So, build

after is where us know business. can it, additional around that I few – that the happened if a more months, something start never they it product and that system, and tools are have of the it’s almost consumption the system automatic trust saying, that, the right. month, can but you example, is the think seeing with standard our the for after years first accelerate right. from we look or okay, happen appreciate few in at And we looking That’s a people advertising and actually how

so, the first And will online for their Wix and the or presence they basic offering, of, couple will say, people week so like normally, to build then right. would I come

start the they the the payments, and cart business, products, if billing, So, setup then the a add they try policies and selling. shopping it’s

it’s the of applications of the the think and some I that. that, some in start booking, they the starts booking, [indiscernible] of right. from build offering usually After classes teachers, working basic it

that, after start tools. application. And they deeper native So they are business into deeper and going

So initially, a process that takes a bit.

takes that tools. way, and seeing adding usually are them it that’s the thing By so something are will takes is what seeing. that different we time of lot And that start other we the

products has and will customers, booking and things. which there. are somebody right to just start then that starting a doing to somebody business are offering classes So, products, And so teaching we see selling these selling

So a have have between lot this cross store, obviously, they a a we verticals. are spa. the they seeing Hotels, of

between verticals. a lot of the is there cross So

the cases. one? vertical want necessarily customers it’s second more a many So, of in you not to offering, Lior, take vertical

Lior Shemesh

everyone. Yes. Hey,

said, the actually the QX was – so growth more regard XXXX the XXX% last a than QX That by because doubled more came also impacted than with QX than strong seasonality a of net also about growth of we So, higher bit was was, a the way, and volatility about very with probably doubled a XXXX, XXXX that question typical to subs, actually, year. QX the meaning epidemic in out to due QX.

quarter kind temporary provided of that obviously, fourth the the in it’s growth, for that creative we than subscription we QX So is also of and for more example, guidance at reflected impact the the XX%. is see

value the is also to subscription it’s important that that so think I of different. each mention

or we example value And this that amount compare. revenue think in code hard we it’s X.Xx and you provided as code just compared I the the an at looking also to the the we XXXX update, nearly the ourselves way why So, to and in evaluating shareholder of – the a way measure generated XXXX code. as to really is by are of

it’s indication a is each X that a I X great today, year subscription years think or a subscription or it ago. than higher that understand much the to of value

I So answers hope it question. your that

Ron Josey

much. very you Thank does. It

Operator

Thank you.

Naved Securities. comes of next question Truist Our from with line the Khan

Your line now open. is

Naved Khan

a lot. Yes, thanks

on think if years. just for new you today metric that that you Where should year contribution maybe XX% in to of we year? channel wish clarification, And vision growth or are of your doubled I in the this X and So about share? of the on just channel maybe the I accounting say correctly, heard growth you for X in last do you terms partner did a how think in sites

Avishai Abrahami

Yes.

year I going and this than that it And we invest And and as to that. years seeing success. that are will X I mention ago, we think X we think double this that. mentioned really are hopefully I And spoke So more well. we that everybody massive is something into here to did

ambitious unless little right achieve will to not mathematics, right, XX%, there. wanted that be that I a And Internet likely able we it’s imagine with I of right, be to that that think ambitious. built could think right. company on that new obviously, Wix, and the the play this sites goal, I will But think actually see be changes, just something we It’s an I the on to hard it’s being you that. bit very that will

we innovate also course, – execution to this think and will But have and to rate product. growth Of I continue excellent year’s drive we do will we we an be and need to history look years, right, growth happen. but but years. years, that showing can be the X X at rate to it’s that likely It is it’s very such probably not is X

company, it’s something X I something achieve. achieve to I hard very we that and internally we that So, believe is believe hard achievable is very X to message this we years, can the thing, a I there very worked think say a we something whey is it’s very worked really important for is this – because that and

Naved Khan

you. Thank

Operator

Thank you.

next line with Our comes question from of Guggenheim Securities. Wong the Ken

open. Your now line is

Ken Wong

about XXX we Great. that And longer then rate, Thank take have Wix touch updated that for basis think had out guys you and rough what Some on you taking you any Previously, roughly wanted again. of thinking payments go feeling where installed you term? of any to for XX% I the refresh attached the the on of base that question what be is guys maybe new, Payments your sense XX% could competitors is? guys. my of points, numbers? payments of us should as about there those

Nir Zohar

Hey, Ken, it’s Nir.

growing. dramatically. but report it’s – us, there I pace. hasn’t is it high think at don’t something So the a it’s XX%, It I adoption think to this XX%, the different gives at stage, continues changed

of product it. take expanding we we yes, period a evolving in that the That’s the definitely time, on will the terms get industry think that keep goal. standards definitely think I of to over I rate, longer as and

Ken Wong

you. Thank Great.

Operator

Thank you.

next Our of line from with comes of Nat Bank question the America. Schindler

now line open. Your is

Nat Schindler

Yes, hi, guys.

where the care Secondly, I do was in that due mentioned out? And much if gross of on was that TROI gross on expansion. leveragable? discussion margin still slide, of look the QX on returns. should QX this to decline – of the I at you be – – I it I think hasn’t times time in the XX.X positive think which is will settle customer think longer So partially margins the months slide, you have is average first result that into How a the seen your one from and term, that there gone just the

expand trend function an your off TROI? looking X%. actual that some a So little that this X% is that your year QX to seasonality Was or of are a you to and just

Lior Shemesh

Okay.

So margin. question I about will start with the the first gross

into the I answer that think divide I want the two. to question

subscriptions. me let talk creative the about First,

down actually we of Obviously, gross absolutely are is address the demand continue result, to the right margins creative as we grow. now, see you see right, customer to So in huge also subscription but expansion went demand a the curve mainly the our the of is that future. that

So an ourselves, to we prepare online we prepare have build to our make Wix that sure come support that users to and looking to presence. ability

in a So, impact we obviously XXXX. agents to has XXXX, hire XXX XXX but which XXXX, more in about – about hired on more we full continue

want right, of lot to So, of your the we as of infrastructure and think that we To to going also, do hiring obviously support gross future. margin we by have that And XXXX, improvements order it this mentioned in we a we you is has in – are that that effect. accelerated to stop second to in be growth I XX% near about an are done absolutely question, mode. there half back

except it’s temporary two answer So in dramatically the solution, regard order a to of to changed, nothing things. of business the definitely, effect With and about feel good kind very it. we growth

will first payments revenue of terms into example. we we this mix it on of just talk in solution The become kind the dominant taking be that up. margin the is business for change the amazing of Actually, increasing the business. in rate, consideration We payments And of about gross business scale one more as take started the number one solution. stream like where the is XXXX,

about are So investing support. in infrastructure a on-boarding payments, also about order build the everything the to to lot the support process, we

example, much for to year, year. next invest as going So we not this are as are we investing

for as of to it’s the an gross to to it the day, but is product solution margin the incremental necessarily the gross over also margin, free creative the important. of focus retention of generates users, cash about well the is indirect end very business balance not expected up So, because mention It important go there, the also and has in is sheet flow our this that subscription. effect

is obviously us. very is that this So, for something important

Avishai Abrahami

is I the TROI this about – first Nat, your quarter. want Avishai. just in question about Hey,

in was and a influenced a everything quarter. couple of all if then accelerated So, remember pandemic, month it the by And in you things. actually was first first bit of the of that down obviously that slowed

new we that spend marketing that And always thing to always spent this – pool. we second The is creating launched there you – launching start dollars and products.

we So the so that that of was the and was something mostly the to to of – part include retaining that was by, into last mathematics. the how to effect Then that also of is course, learn that’s influenced And payment, e-commerce better of it invest cash have of outtake to started product. we that. behavior

me, But would future, thought we’re number and if it think say which, was way, certain a to However, in we influenced that model we months, that. X why the end in you year should it’s new the x, that of I worried they what I course, want up X with CEO, But to actually pandemic, we this in right. we months, of the if X in for X things, or usually, a in way year, better Xx came go Because of And terms you about that to noticing the we as to with months. from is year, the all them. the year, range actually by I way. because the efficient months XX and is we’re commerce trying thank about the have which or return tend if that the last more X.X get get to same the measure the by came first on So means right? have you be releasing to of Because for products in are in second more back by to – think of different than the again again be investment. X

to on we be more a those should more maybe So guys. bit spending bit open a

Nat Schindler

Thank sense. you. Makes

Avishai Abrahami

Of course.

Operator

Thank you.

with of line the Helfstein from comes Jason question Oppenheimer. next Our

open. Your is line now

Jason Helfstein

everybody. Hi, Thanks.

kind So we questions years. expanding and that takes deferred with us you through new the revenue, in today? Where collections gap, lot X right? path? of narrows, a on about just comment The starting through maybe a targeting things you’re start are – of that? Thanks. to maybe using kind get point kind So so through is then that from we where about of you’re glide question sites take us X And get what’s and or about just of all revenue your between you it’s obviously half and to a the gap question puts to of periods then because go it investors take the the

Avishai Abrahami

I that as at answer from right, we the one sectors. – think a to far know, questions as I of few it, if So your look have I different as between divide Internet, right, you

the thing trend small I the So which the right. business people that by building Internet, is building is, be way, is think mostly others, that website, themselves. would are And first specifically growing super a there on

above or you always Internet from X or million. think being And trend right? that the on the estimate to on created new from already that number assume the of to self And on that equivalent is using well, look trend designers, not X exactly so have. so is right? very about new getting at but It’s probably in to a are or disclosed very And XX% creators XX% but itself is not, the partners offering But planet exactly, number is we double-digits know this people million – the already their we if Photoshop, that I that today close on So and the very And amount today, why similar so, Internet. if that, planet. then it’s sites don’t is growing. I hard are – that number and I to of in be which we in we

to So, just continue even those. in doing will now we – same at that of be grow we are we XX% the go, rate

responsible guys if that website. of kind right, enterprise large designing Now buy most else enterprise two somebody website and their company’s for people are for course, the websites. for of those so websites, They responsible to are of that

those growth large Editor achievable surprising or to looking So, month-over-month. or I your X we address seeing XX% websites. us thing it’s just is already we’re growth see but for at or that we very the be so don’t building month-over-month, on with more You think Internet that are happening by can fast, websites right? key two size seeing today again, than XX% their Editor enterprises today companies factors, as companies. X, And And much XX% companies which medium-sized own are one with

all extrapolate So I years. to in if websites that – within be it’s probably all been new X that think at of toward you building easy will of factor very that XX%

Maya Hagoel

second about a Jason. comment about it. general With collection the Hey, to revenue, and regard question

to we to I think need two relate that different behaviors.

before. of immediately, had regard more than The than what Therefore, you first recognized immediately, kind is we the and business for payments, a QX, was was mostly anticipated to which mentioned with recognized anticipated, from the collections as as increased time, all more equal I solution recognized one what is know revenue we is we example, coming so example. subscription, In for collection payments, is creative payments it revenue to mostly over initially.

nature creative growth. you obviously, collection, more depends see coming it gap the is to really from that is the If increasing. revenue growth between on the So gap subscription, will the of the

the was quarter, solution – nice growth recognized. it scaling business obviously If opposite, of so But the this to up, nice really which is a so you business increasing, that especially see very it was it again, was solution is depends. see how payments, all

Jason Helfstein

you. Thank

Operator

Thank you.

the comes with Ygal question next of Our from Arounian Wedbush. line

open. now is line Your

Ygal Arounian

then contribute subs guess, collections partners And how thought Editor this kind of I commerce around commerce. ask X then Editor you level Thanks that and year to X? seeing being being to a tracking Is boost about X I of I’ll guidance Are to technical have year. morning and through that And flows you it the how few commerce you’d revenue as built the think commerce? million next right investments well? moment? And the initiatives guys. with of this on Editor year good for within investment, be I wanted Is after. to in the where more how questions. kind you incremental this big right, the at and sites have And ask XXX,XXX Hey, follow-ups, that, two Editor the real you does X a initiative? $XX

Lior Shemesh

million we’ve I incremental start the $XX with will made. So investments that

several going things. we So are it mentioned we that use to for

one the is clear The it. headcount, first about expanding

it’s good the we you agents question many how we how understand internally, So growth. continuous many support people, a to need try because to

assume also actually And the state we happening. that is a demand new We mind. last about growth I growth of quarter will continue, the talked and mean The increasing. it’s continue. also actually

in people have So And more recruit to them. support time that, to it train more to agents. order takes at we

that the increasing in So again gross subscription. are it are we increase I in investment, of going to margin mostly XX% to as XXXX, but the mentioned XXXX, as actually XXXX, believe before, benefit see we creative already the for to we going

payments. opportunity to how about free for to huge deliver going bottom there flow us growth has use payments, is the rate. payments. and to already We the support and the started it increase on are And we We talk the product line. a the Payment on order in cash take

much and I think for more will be it that the significant account us for next same goal management. year,

invest. Obviously, year. we be are to will see one. doing are actual that the in to throughout believe we amount is the going witness we we that It based on like it appropriate that the So and day this not need growth

Avishai Abrahami

strong that as grow through And I add think balance ours many in I the to M&A. will to that sheet just that companies that business want as order have use a

we from our approach innovation. – our growth always that will of come most that think is I

for we’ve proven us best what investing into to works innovation that is future growth. think that generate I

Ygal Arounian

just I Okay, helpful. things. a ask of mechanical And couple to wanted

So have listed it to just is subscriptions And the quarter X%, amounts the Or the about that on people Can causing to your which the back rate. accelerate X.X% decelerated and in what already? expecting are you is difference then, which are on there and subs what’s being pull has that? rate? your asked and cost? going of and again, are and accounted you’re next in you’re about creative quarter this seasonal the talked for again to kind the you the from collections, What’s between X% XQ? site in of gap that normalizing what website, recognizing, explain take XQ forward kind take there charge-backs all elements again coming X% other between payments in Or

Lior Shemesh

again, had I’ll question. we in with fourth after the that that So said a the the we going exactly seen on a to But start QX. volatility more quarter, already have the we very see It’s up it’s January again that what and we XX% numbers second seasonality before than basis. strong especially about effect year-over-year on

I a back are seen to temporary So growth fact effect for have that a only it’s that it’s indication and before. that we the the we think great

Nir Zohar

taking product this use say so that first far, this you’re got of I As ever growth something is, for broadcast And that Editor I you growth asked for to think account X, you in growing terms about question going because channel as by released. not for is of me, and that fastest professional your was Editor And growth and into Editor – just marketing we X, regular people. after the about can X.

think quality it’s to the the product. – month-over-month, quality on amazing It’s growing product and really finish And big there. reason struggled X fantastic. e-commerce, it’s do for is in a the is it does me terms products – it’s of the a see that there, a to to I to XXX,XXX Editor I contribution is with and think And XX% this we takes – working do, part more users the I that in a e-commerce It testament of tool this the time. to over and complex website already. team more this marketing of we it. of professionals. On do not is for see regards really

I using very And an did simple deeper much to of using it, where amazing Editor near in it’s that that if are X professional, use to Again, is you me, numbers it. amazing. are because classic think harder I it projects, even is obviously, where that projects. terms of we if it do. editor, for near it’s growth they It’s most be – is now the bigger course, expect the but more never that’s issue, anywhere not part thing of have or rate.

Avishai Abrahami

there we Was anymore or questions answered everything.

Ygal Arounian

What rate Yes. what’s been and – And there? factors on then and take site? X% the the your are the pay what’s the difference payments between

Avishai Abrahami

own young terms that, with remember necessarily kind gateway. commercial have first existing lot system we A you of other users which not our gateway. to of our it. is are who are product case, this have are different transacting You evolving on in all, our And a the and of on

it’s So as favorable to not naturally, ours. as

to them forcing move. not We’re

XXXX. value. to higher that continue it in to We’re very the take X.X% X.X% product a enticing in better it to you This And was them will also up. be move is off by it see are and rate should ‘XX we from go offering the why taking the confident

Ygal Arounian

Helpful. Thank guys. you, Great.

Operator

Thank you.

from comes line Jones question of Citi. Nick from next the Our

open. now is line Your

Nick Jones

feel of a some team is they with competitors as investment, someone do the the higher company the account maybe speed on of to the, suite incremental platform Great. adequate bigger, positioned to you. I solutions follow-up or risk custom How or that turn guess users. Wix a to is things companies guess, a on the I scale against today improve to get agencies question. volume Thanks management they sizable e-commerce Thank for growing applications the specifically of for commerce the that are of e-commerce some you for that? or the for high-volume kind like

Avishai Abrahami

place a design, you to where is we use its have really team, which And control ability categories. a competitive with actually those edit, your then is if And we in right. X, that think very to think e-commerce I Well, to that fantastic compared product. a as nothing work Editor I site are

We planet on a that, actually build the the the to you team you a like work give when are right. company to project only way

So use you current editing, can right.

the solution. history For and that, Code have you in then have the you diversion Wix

can custom don’t servers you new need, you So whatever rebuild to actually and infrastructure. you and build have

if on it’s that project, say I’d year bigger you fantastic. So this at look to compete our ability

I have think the the on we planet. best offering

Nick Jones

you. Great. Thank

Operator

Thank you.

last of Bank. comes Kuntarich question Deutsche Our the line from with Chris

Your open. is line now

Chris Kuntarich

taking if for can. my I Maybe two, Thanks question.

You for talked why guidance drivers about value – other we there? the help so transactions how to you on think the you And payment then of are so that you – How time XXXX users thinking as what product existing that’s about you’ve just your think having of about just in and at quickly? versus payment here, users? we not And these peers look revenue the tight that transaction Can point at or kind this that some from Thanks. yes, curious payment should – should on yes, growing disclosures Wix is about given charge the for doing guidance just similar relationships are opportunity gross new some a gateways. to think rails taking Wix through Payments? other of with commercial fee your through us place a

Nir Zohar

I one. Nir. Lior will part. the And the I’ll cover think take second It’s first

implemented of this intend and making for is the offering we other just merchants gateways, the near So or to best move the product in the think terms We to so the it do haven’t and much that stage, in believe that of that through the future. about depth it’s don’t that the or have We our opportunity customers first ability transaction payment our that’s of of in all, way we superior. fees opportunity. it it don’t it. do Currently, course, go to to At excellent may future. charge we that

Lior Shemesh

it of lot new our are in guidance the of new it’s obviously, a effect, a XXXX growth a users. see see think users where driving With existing the payment example, But for coming you so regard way, about XXXX a both in we – to users. as from compounding and the growth strong growth

than also time, In of actually users is so addition, getting see at increased because kind more the we the rate. more changing, getting and we and And that, mix business take we the growing. also same it’s more are are we

all that realistic. for actually guidance the indicators us believe actually something So, that quite those is to is lead XXXX

will We and I that. can how products. more It’s that very And to actually, you the on be year it. much it are how about new going people are the than tell depends impress really be excited even can

For is example, sale, of point off-line point of to people from many going online. sale to move

global going Wix expansion contribute Payments. a of it’s So also to

to of is long-term a there lot there, intend opportunities that So opportunities over we pursue. certainly, also but

Chris Kuntarich

Got it. Thanks for the color.

Operator

now will turn for I you. Thank remarks. over the to O’Donnell back Maggie call closing

Maggie O’Donnell

you Thank a you Bye. today. day. good us everybody Hope joining for have

Operator

Ladies your and today’s Thank conference gentlemen, this you participation. concludes for call.

may now You disconnect.