Be careful What You Wish For - Wish Sells for $173 Million

“In a striking turn of events, ContextLogic Inc. announced the sale of its once high-flying discount shopping site Wish to Southeast Asian e-commerce firm Qoo10 for a deal worth $173 million. This decision marks a significant drop from Wish’s $14 billion valuation at its 2020 initial public offering and symbolizes the shifting tides in the e-commerce industry.

I’m always blown away at how high some tech companies can be valued and how quickly it can evaporate. Commenters on Reddit attributed Wish’s decline to their embrace of cheap Chinese junk and were predicting Temu to follow suit.

MSN

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Current discussion: What I Bought vs What I Got

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