Wish Files For IPO Citing Losses, Revenue Growth Due To COVID-19
The company intends to list its shares on the Nasdaq Global Select Market under the symbol WISH. Meanwhile, the global e-commerce market was valued at $3.4 trillion in 2019, and is expected to nearly double to $6.3 trillion by 2024, the company added. While an e-commerce company might not want to help brick-and-mortar stores, Wish is different. Meanwhile, its revenue grew steadily between 2017 and 2019, going from $1.1 billion to $1.7 billion in 2018 and then $1.9 billion in 2019. In the first nine months of 2019, Wish reported revenue of $1.3 billion, compared with the $1.7 billion reported for the same period in 2020, a 30 percent increase from the year-ago amount.