Wish jumps on crowded year-end IPO bandwagon
November 23, 2020- Share:
Ecommerce startup Wish has filed for an initial public offering on the Nasdaq, becoming the latest Bay Area-based consumer company to target an increasingly crowded year-end IPO window.
Wish's revenue grew 32% year-over-year to $1.75 billion for the nine months ended Sept. 30. Its losses narrowed from $208 million in 2018 to $129 million in 2019. But those losses grew to $176 million in the first three quarters of 2020, up from $5 million during the same period last year.
Wish's leading outside shareholders include Formation8 Partners, DST Global, GGV Capital and Founders Fund. Wish was valued at $11.2 billion in August 2019.
The mobile-first retailer attracts over 100 million monthly active users and more than 500,000 merchants to its platform.
Related read: Airbnb, Roblox lead a Bay Area IPO blitz
Wish's revenue grew 32% year-over-year to $1.75 billion for the nine months ended Sept. 30. Its losses narrowed from $208 million in 2018 to $129 million in 2019. But those losses grew to $176 million in the first three quarters of 2020, up from $5 million during the same period last year.
Wish's leading outside shareholders include Formation8 Partners, DST Global, GGV Capital and Founders Fund. Wish was valued at $11.2 billion in August 2019.
The mobile-first retailer attracts over 100 million monthly active users and more than 500,000 merchants to its platform.
Related read: Airbnb, Roblox lead a Bay Area IPO blitz
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