ContextLogic (Wish)
E-commerceUSA
New to Unitard
π€ Acquired
PeakΒ $14 BillionToday
~-99%
from peak
- π¦Became a unicorn2017
- πPeak valuation$14 Billion β20
- πBecame a Unitard~2022
- πΈLast valuation~$140M
Current status
Marketplace sold to Qoo10 ~$161M (Apr 2024); WISH now shell
The rise & fall
8 moments Β· 2010β2024The key moments, with employee sentiment along the way.
2010
2010
Founded as ContextLogic
Peter Szulczewski's startup becomes Wish, a bargain-bin marketplace of ultra-cheap goods shipped from overseas sellers.
Wikipedia
2017
2017
Joins the unicorn club
Mega-rounds value the discount marketplace in the billions as downloads soar.
TechCrunch
Dec 2020
Dec 2020
The peak: a ~$14B IPO$14B
Wish lists on Nasdaq near a $14B valuation at the top of the pandemic e-commerce wave.
CNBC
2021
2021
Shoppers stop coming back
Product-quality complaints pile up and user retention collapses; the stock breaks issue and slides all year.
CNBC
2022
2022
Slips out of the club
A ~99% markdown from the IPO peak drops ContextLogic's market value below $1B as Temu and Shein swarm its lane.
Digital Commerce 360
2022β24
From the inside Β· Glassdoor reviews, 2022β24
Glassdoor reviews traced the unraveling: employees described a revolving door of leadership after the founder's exit, repeated layoff rounds β including a 2023 cut of more than 250 people β and morale sliding with the stock, as a cheap-goods reputation and rising rivals like Temu and Shein went unanswered.
Apr 2024
Apr 2024
Marketplace sold to Qoo10 for ~$161M$161M
The Wish marketplace goes to Singapore's Qoo10; ContextLogic stays behind as a listed shell.
Digital Commerce 360
π¬ entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor β; dated facts carry their source.
How it happened
Wish, operated by ContextLogic, was a discount e-commerce marketplace selling cheap goods from overseas sellers, peaking near $14B at its 2020 IPO. Plagued by product-quality complaints and collapsing user retention, its market value fell 99%. In April 2024 the Wish marketplace was sold to Qoo10 for about $161M, leaving ContextLogic as a shell.
Source: Digital Commerce 360: '99% markdown'
Founders
- Peter Szulczewskico-founder & CEO (built it, stepped down Feb 2022)
Current roles as self-reported on LinkedIn, retrieved 2026-08-21. See our methodology.
