Mobile e-commerce shopping start-up Wish has launched an IPO (Initial Public Offering) on the Nasdaq Stock Exchange.
Trading under the ticker symbol WISH, the San Francisco-based company will be selling 46 million shares, which means it could raise as much as $1.1 billion if the stock sells at the top of the expected price range, while the e-retailer is targeting a valuation of $17 billion on the public market.
The most downloaded shopping app globally for the past three years, Wish was established by Piotr Szulczewski, a former Google engineer and the company’s current CEO, as a software company called ContextLogic in 2010. With 100 million active users in over 100 countries, the start-up has gained a reputation for being one of the largest sellers of discounted Chinese products ranging from homeware, apparel and electronics to toys and personal care products.
Its revenue has steadily grown between 2017 and 2019, going from $1.1 billion to $1.7 billion in 2018 and then $1.9 billion in 2019, while it has generated $1.7 billion in revenue in the first nine months of 2020.
Wish joins the 2020 IPO party of big names like home-rental platform Airbnb (ABNB) and others which have gone public this month, as 2020 has seen strong investor demand for high-growth stocks.
Here is how you can buy shares
Those interested to buy shares through the CCTrader platform can do so by downloading the app through the App Store or Google Play or by accessing the trading platform.
The stock can be found under the ticker symbol WISH.
We remain at your disposal for further assistance. You may get in touch with us on +356 25 688 688 or via live chat through the CCTrader app.
The value of the investment may go down as well as up. Past performance is not necessarily a guide to future performance and currency fluctuations may affect the value of the investment. Prospective Investors are urged to read the Prospectus, particularly the section titled ‘Risk Factors’. This information is targeted at Prospective Investors having the necessary knowledge and experience to understand the investment in the Shares and are able to appreciate the risks factors. An investment in the Shares may not be appropriate for all recipients of this document.
Prospective Investors are advised that CCIS may not require to determine the appropriateness for execution only investments and hence Investors may not benefit from the level of protection otherwise afforded under the conduct of business rules. Prospective Investors wishing to execute an Investment may visit www.cctrader.com. Issued by Calamatta Cuschieri Investment Services Limited ("CCIS") which is licensed to conduct Investment Services by the MFSA under the Investment Services Act.