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Posted: 2020-11-20 22:59:59

Wish files to go public with 100M monthly actives, $1.75B in 2020 revenue thus far

So many levels of peddling junk

From Alex Wilhelm at eCommerce – TechCrunch
Originally published 2020-11-20
But the company’s accelerated growth has come at a cost, namely rising losses. During the first three quarters of 2019, Wish posted net losses of just $5 million, before some preferred stock costs pushed its total deficit to $12 million. In the same period of 2020 Wish lost a far steeper $176 million.
Noting that stimulus is fading, Wish warns investors in the document that it “cannot assure you that increased levels of mobile commerce will continue when COVID-19 has subsided or otherwise, or that the U.S. government will offer additional stimulus programs.”
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Tags:Apps,eCommerce,Exit,Fundings & Exits,Startups,TC,e-commerce,initial public offering,Wish
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