Online shopping marketplace Wish has filed to go public. The company has about 100 million monthly active users across 100 countries, and 500,000 merchants listing around 150 million items. At least 18 e-commerce companies have gone public this year, compared to 38 during the entire 2019.
Wish valuation over the years:
- 2012 - $68M
- 2014 - $1.2B
- 2015 - $3.52B
- 2016 - $4B
- 2017 - $8B
- 2019 - $11.2B
- The company reported a $1.7B revenue in the first three quarters of 2020, compared to $1.3B for the same period in 2019. The company’s loss increased from $5M to $176M during Jan-Sept 2020.
- In its filing, the company noted that the global e-commerce market would grow from $3.4T in 2019 to $6.3T in 2024, and the mobile e-commerce market would contribute to 71% of global e-commerce to 63% in 2019. Wish’s mobile app accounts for around 90% of activity and purchases.
- In Nov. 2018, Marketplace Pulse reported that around 94% of Wish items come from China, 45 from the U.S., and the U.K., Canada, and India together contribute 0.7%. Wish said that the agreement between U.S. Postal Service and China Post could affect the company. It added that it is making efforts to diversify its merchant base, and the merchants in North America, Latin America, and Europe have grown by more than 230% since 2019.
- The company has raised $2.1B in funding from investors including Keith Rabois and Naval Ravikant. The company has set a goal to raise $1B in IPO, at a valuation of around $25B - $30B.