Wish's IPO will raise as much as $1.1 billion in funds for the company, giving it an initial valuation of $17 billion on a fully diluted basis, according to Bloomberg. The e-commerce platform will trade on the Nasdaq exchange under the ticker symbol "WISH."led by General Atlantic in August 2019, when the San Francisco-based company raised $300 million, Wish was valued at $11 billion. The firm had a near $9 billion valuation in late 2017.
The company has raised a total of $2.1 billion in private funding since its founding in 2010, according toShark Tank investor Kevin O'Leary told us 2 concrete strategies for building wealth over time - and shared how a rude awakening during the pandemic led him to build a new investing app Wish was created by former Google engineer Piotr Szulczewski. The e-commerce platform relies on a personalized visual browsing experience rather than the traditional search and go shopping habits facilitated by a search bar.
Wish's catalog has grown to more than 150 million items, and it sells nearly 2 million items per day, according to its S-1 filing. The company did $1.9 billion in revenue in 2019 and is not yet profitable.
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Wishful thinking
People buying cheap junk must be good.