Bessemer venture capital investment memo wix

Wix Investment Memo from Bessemer Venture Partners

Tl;dr: Bessemer Venture Partners participated in the second seed of a $4.1mm seed round at a $7m pre-money. Read to understand how a venture capital investor thinks about investing in a company and how they communicate it to their partners and potentially their limited partners.

About the VC investment memo

The memo was released on the Bessemer blog along with a number of other memos. There’s not more context.

About Wix

Wix provides a platform for the development of cloud data services for millions of registered users worldwide. It specializes in web development and management that provides an easy-to-use powerful cloud-based platform of products through a freemium model. Its core products consist of three web editors: the Wix Editor, intended for users with basic technological skills, Wix ADI, intended for novice users and Wix Code, intended for more tech savvy users. It builds its web development technology based on HTML5 and offers HTML5 compatible capabilities, web design and layout tools, domain hosting, and other marketing and workflow management applications, and services. The geographic segments include North America, Europe, Latin America, and Asia as well as other regions.

About Bessemer Venture Partners

Bessemer Venture Partners is a $4B venture capital firm that funds consumer, enterprise, and healthcare startups around the world, from seed stage to growth. Their partners help founders lay enduring foundations to create companies that matter, starting with seed and Series A investments and sticking with our companies at every stage of their growth. BVP funded the early stages of Pinterest, Blue Apron, Skype, Skybox Imaging, Twitch, and Periscope and helped build 117 IPOs including Twilio, Yelp, LinkedIn, Shopify, and Wix.

BVP came in at the “second seed round of Wixpress Ltd”. The data isn’t clear.

Announced Date 
Transaction Name 
Number of Investors 
Money Raised 
Lead Investors 
Mar 28, 2011
Series D – Wix
5 $40M DAG Ventures, Insight Partners
Mar 24, 2010
Series C – Wix
3 $10M Benchmark
Oct 13, 2008
Series B – Wix
2 $3.5M
Dec 1, 2007
Series A – Wix
2 $5M

And below here are two seed rounds and gosh knows what else.

Usual caveats

No investment memo made voluntarily public will ever be 100% as it was. The pressure is just too high for VCs to look smarter, and not make founders uncomfortable, etc. I highly praise the VCs that share their thought leadership so we can all learn.

If you’re learning to make a VC investment memo, don’t assume the memos are what you exactly need to do. Information will be redacted. Assume anything “delicate” or sensitive is not in the memos.

The only memo that is 1 to 1 is the Youtube memo because it was in a lawsuit.

Venture Capital Investment Memo

What do you think of the investment memo?

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