![]() The company cautioned in its IPO filing that losses “may continue to increase in the future as we increase our efforts to expand our user base.” The accelerating momentum is partially the fruit of intensified investments in customer acquisition, which in turn led to Wish’s net loss increasing from $129 million during 2019 to $176 million during nine months ended Sept. Wish’s recent 32% growth rate represents a big improvement over the 10% revenue increase it logged in 2019. Those users drove revenue of $1.7 billion for the company in the first nine months of 2020, up 32% year-over-year. ![]() Wish claims 100 million-plus monthly active users worldwide who on average spend more than nine minutes per day in the service. ![]() The company said in its IPO filing that more than 70% of sales on its platform don’t involve a search query. Wish’s hallmark feature is a personalized feed of shopping suggestions that users can scroll through to find products without having to use the search bar. San Francisco-based Wish operates a mobile e-commerce app that enables users to browse millions of items from more than 500,000 merchants. ![]() The filing was released shortly after Roblox Corp., the maker of a highly popular video game of the same, published its own IPO paperwork on Thursday. Wish shared the figures in a filing released today for its upcoming initial public offering. Mobile e-commerce unicorn Wish, officially ContextLogic Inc., today revealed that it has more than 100 million monthly active users who helped it generate $1.7 billion in revenue during the first nine months of 2020. ![]()
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