E-commerce startup Wish has filed for a $1B IPO and is seeking a valuation between $25B and $30B. Since 2017, Wish has been the world's most downloaded shopping app and was last valued at $11.2B.
Wish valuation over the years:
- 2012 - $68M
- 2014 - $1.2B
- 2015 - $3.52B
- 2016 - $4B
- 2017 - $8B
- 2019 - $11.2B
- Wish is a San Francisco based company that lists products from Asian sellers at deeply discounted prices. Wish earned $1.7B in revenue during the first nine months of 2020, a 32% increase YoY.
- However, despite the surge in sales, its net loss so far is $176M, a significant increase from $5M in 2019. It revealed in the past year it has shipped more than 640 million items to more than 100 countries.
- Wish has more than 100 million monthly active users and more than 500,000 merchants have signed up on its platform.
- Wish acknowledged that while its sales have surged during the pandemic, it suffered from longer delivery times, supply chain issues, and a loss of merchants. Wish acknowledged it is uncertain if the surge in sales will continue once the pandemic is over or if the government fails to pass another stimulus.
- At least 18 e-commerce companies have gone public this year, compared to 38 during all of 2019.