Wix.com Ltd. (WIX, Financial) provides software to help small companies build and maintain websites and operate their businesses. Wix has over 180 million registered users and five million premium users. Shares declined slightly during the quarter after doubling in the first nine months of the year as Wix benefited from accelerating digitization due to COVID-19. Wix's rapid innovation is driving continued growth in its core do-it-yourself market, while its expansion to serve website designers has meaningfully expanded the total addressable market.
From Ron Baron (Trades, Portfolio)'s Baron Growth Fund fourth-quarter 2020 shareholder letter.
