#eCommerce / Discount eCommerce Platform Wish Files $1B IPO

Goldman Sachs, J.P. Morgan Chase and Bank of America are leading the IPO for Wish’s parent company, ContextLogic. Additional participants include Citigroup, Deutsche Bank, UBS Group, RBC Capital Markets and Credit Suisse Group.

Wish is the third-biggest eCommerce marketplace in the U.S. by sales and was the most downloaded shopping app worldwide in 2018…

The Silicon Valley company was co-founded in 2010 by former Google engineer Peter Szulczewski, who serves as chief executive officer and controls 65.5 percent of the company…

ContextLogic owns other online marketplaces, including Geek, Mama, Home and Cute… Wish, which largely carries deeply discounted Chinese merchandise, counts Amazon among its biggest competitors.

https://www.pymnts.com/ipo/2020/discount-ecommerce-platform-wish-files-1b-ipo