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Harry Stebbings: Wix valued at $2.1BN despite $2.1BN ARR
Harry Stebbings highlights what he describes as a 'brutal' downturn in the software-as-a-service (SaaS) sector, with Wix facing particular challenges.
He notes that Wix, which reports $2.1 billion in annual recurring revenue (ARR), currently holds a valuation of $2.1 billion. This 1:1 valuation-to-revenue ratio is described as surprising for a company of its size. Stebbings also observes that Base44, recognized as a leader in vibe coding, is now generating over $170 million in ARR.
Stebbings previously explained that a founder with $1.5 million in annual recurring revenue was not considered ready for Series A fundraising, projecting $5 million for the following year in his analysis of capital requirements for SaaS startups (read more). In another recent note, he reported that Elon Musk utilizes $2 billion in monthly compute from Anthropic and Google to meet critical AI infrastructure demands (read more). These observations provide additional context to Stebbings' assessment of company valuations and sector pressures.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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