Base44 allows people to build apps by simply explaining what they want in normal language. The company grew so quickly that Wix bought it only months after launch, then agreed to pay Shlomo more money if the business continued beating its targets.
That is exactly what happened. Base44 reached an annual sales pace of around $150 million by May, far ahead of what Wix originally expected. The company has now become one of Wix’s main growth businesses and one of Israel’s fastest recent technology success stories.
The growth has also been expensive for Wix. The company lost $76.4 million in the latest quarter, partly because of the new payment to Shlomo and the high cost of running and marketing Base44. Wix spent $173 million on marketing, up 67% from last year, as it pushes the platform worldwide.
Shlomo has already started using part of his fortune to support cancer research after losing his mother to the disease. He has invested in seven companies working on new cancer treatments, turning one of Israel’s fastest startup wins into a larger personal mission.