ContextLogic Inc. (Wish) (WISH) is planning to raise $1.1 billion in an initial public offering on Wednesday, December 16th, IPO Scoop reports. The company plans to issue 46,000,000 shares at a price of $22.00-$24.00 per share.
In the last year, ContextLogic Inc. (Wish) generated $1.7 billion in revenue and had a net loss of $300 million. ContextLogic Inc. (Wish) has a market cap of $13.5 billion.
Goldman Sachs & Co., J.P. Morgan and BofA Securities served as the underwriters for the IPO and Citigroup, Deutsche Bank Securities, UBS Investment Bank, RBC Capital Markets and Credit Suisse were co-managers.
ContextLogic Inc. (Wish) provided the following description of their company for its IPO: ” We launched Wish with a simple mission—to bring an affordable and entertaining mobile shopping experience to billions of consumers around the world. Since our founding in 2010, our vision has been to unlock ecommerce for consumers and merchants, by providing consumers access to a vast selection of affordable products and by providing merchants access to hundreds of millions of consumers globally. We have become one of the largest and fastest growing global ecommerce platforms, connecting more than 100 million monthly active users (“MAUs” or “monthly active users”) in over 100 countries to over 500,000 merchants offering approximately 150 million items. Our platform combines technology and data science capabilities, an innovative and discovery-based mobile shopping experience, a comprehensive suite of indispensable merchant services, and a massive scale of users, merchants, and items. This combination has allowed us to become the most downloaded global shopping app for each of the last three years according to a report from Sensor Tower.1 We are focused on democratizing mobile commerce by making it affordable and accessible to anyone. The global mobile commerce market was $2.1 trillion in 2019 and is expected to more than double to reach $4.5 trillion by 2024 “.
ContextLogic Inc. (Wish) was founded in 2010 and has employees. The company is located at One Sansome Street 40th Floor San Francisco, CA 94104 and can be reached via phone at (415) 432-7323 or on the web at http://www.wish.com/.
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