Wix Announces Board Authorization of $2 Billion Share Repurchase Program

Core Viewpoint - Wix.com Ltd. has authorized a $2 billion repurchase program for its securities over a two-year period, reflecting the Board's confidence in the company's cash flow generation and commitment to enhancing shareholder value [1]. Group 1: Repurchase Program Details - The repurchase program allows for the buyback of company securities through various methods, including open market purchases and privately negotiated transactions, in compliance with U.S. securities laws [2]. - The program does not obligate the company to repurchase a specific amount of securities and can be suspended or discontinued at the company's discretion [2]. - Repurchases may begin after a 30-day period for creditors to object, and the timing and amount of repurchases will depend on market conditions and the company's financial situation [2]. Group 2: Company Overview - Wix is a global platform established in 2006, enabling users to create and manage their digital presence with advanced AI and robust business solutions [4]. - The platform serves millions of users, including self-creators and enterprises, and focuses on providing intuitive tools for building brands and scaling businesses online [4].