Business

Wish makes IPO filing on Nasdaq public

General-Atlantic backed Wish made public on Friday a request made in August to list its shares on Nasdaq

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  • Wish made public on Friday a request made in August to list its shares on Nasdaq;
  • Founded in 2010 by former Google executive Peter Szulczewski and Yahoo veteran Danny Zhang, Wish has grown rapidly and currently has 100 million active monthly users

Wish on Friday made public its regulatory filing for an initial public offering on Nasdaq, joining a host of companies rushing to take advantage of investor appetite for new listings.

The San Francisco-based e-commerce company posted revenue of $ 1.7 billion in the prospectus in the nine months ending in September, an increase of 32% over the same period in 2019.

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ContextLogic Inc, which has Wish as its trading name, had a net loss of $ 176 million in the period compared to a negative result of $ 5 million from January to September last year.

Founded in 2010 by former Google executive Peter Szulczewski and Yahoo veteran Danny Zhang, Wish has grown rapidly and currently has 100 million active monthly users. The website sells about 2 million products a day, according to company data.

Translated by LABS