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ContextLogic (Wish)

E-commerceUSA
🤝 Acquired
Peak $14 BillionToday
~-99%
from peak
  1. 🦄
    Became a unicorn
    2017
  2. 📈
    Peak valuation
    $14 Billion ’20
  3. 💔
    Became a Unitard
    ~2022
  4. 💸
    Last valuation
    ~$140M
Current status
Marketplace sold to Qoo10 ~$161M (Apr 2024); WISH now shell

How it happened

Wish, operated by ContextLogic, was a discount e-commerce marketplace selling cheap goods directly from overseas sellers, peaking near $14B at its 2020 IPO. Plagued by product-quality complaints and collapsing user retention, its market value fell roughly 99%. In April 2024 the Wish marketplace was sold to Qoo10 for about $161M, leaving ContextLogic as a shell company.

Source: Digital Commerce 360: '99% markdown'