Wish prices IPO at $24 to raise more than $1 billion

Opinions

Date: 14.01.2021

Bargain e-commerce giant Wish  priced at the high end of the range to raise $1.1 billion at a $17.1 billion market cap. The company provides an e-commerce platform that connects primarily China-based merchants with value-conscious customers mostly in Europe and North America. Wish had the worst first day listing of any unicorn to go public in 2020.

Founded in 2010 and headquartered in San Francisco, Wish is an e-commerce platform, putting a digital shopping mall of affordable goods directly in the pockets of consumers worldwide. Wish employs big data principles, machine-learning, and search technologies to create a highly-visual, entertaining, and personalized browsing experience for each user. The company leverages a global network of direct suppliers, providing access to top quality, affordable products to anyone with a smartphone. As of 2018, Wish has more than 80 million monthly active users, over one million merchants, and sells nearly 1 billion products annually. 

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