Bargain Shopping Platform Wish Files for IPO
(Bloomberg) -- E-commerce company Wish, last privately valued at more than $11 billion, has filed confidentially for an initial public offering.
Wish, run by San Francisco-based ContextLogic Inc., didn’t provide further details of its IPO plans in a statement Monday.
Wish is a mobile app that allows consumers to buy discounted goods directly from Chinese merchants or suppliers. Products featured on its website are as varied as plastic dish ware, sneakers, pandemic-era face masks and giant lawn spiders.
It was founded in 2010 by Danny Zhang and former Google engineer Peter Szulczewski, who is chief executive officer. Zhang was previously the director of engineering at AT&T Interactive, according to his LinkedIn profile.
Wish had more than 1 million merchants and more than 80 million active monthly users as of 2018, according to a statement last year. ContextLogic owns other online marketplaces, including Geek, Mama, Home, and Cute, according to the Wish website.
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