ContextLogic, Inc.

ContextLogic, Inc. is the company behind the vast but unusual online marketplace, Wish. Wish shot into the public consciousness in the late 2010s as the home of incredibly cheap consumer goods: items that typically retail for hundreds in the US are available on Wish, manufactured and shipped directly from China, for laughably small sums – smartphones for $30, jumpers for $2, imitation Apple Watches for $9. Searches for ‘is Wish legit’ and variants became common as shoppers delighted, and sometimes despaired, in their low-cost and often low-quality offerings.

Wish originated in the work of Piotr Szulczewski, a Polish-born former Google engineer who spent six months in 2009 writing an algorithm to predict Internet users’ interests based on their search history, called ContextLogic. In 2011, Szulczewski turned down a $20 million offer from Facebook to integrate ContextLogic into their ads platform, instead developing the code further with co-founder Danny Zhang. This turned out to be a fortuitous decision; with $2.5 billion in 2020 revenue and 107 million average monthly users, Wish now operates in 100 countries around the globe.

Navigating Wish reveals a cluttered, eclectic feed of bizarre, and always cheap, items. Wish also applies discounts in a gamified ‘wheel of fortune’ randomly applied to certain items in an effort to enliven the experience of online shopping. The novelty of this, attested to by Wish’s number one App Store position in 2018 and vast user base, sometimes masks problems with orders. Consistent consumer complaints about slow delivery times and shoddy product quality resulted in the YouTube phenomenon of ‘Wish Unboxings’, where users record opening their cheap packages to discover their unusable or poorly made contents. To combat this, Wish culls around 8 million fraudulent or low-quality listings per week.

Despite these concerns, Wish has found a loyal user base among Americans on low incomes or without access to credit, turning Wish into the third-largest online marketplace in the US in 2019. Wish differentiates itself from other online marketplaces in focusing specifically on Chinese merchants, with favorable shipping terms and advertising targeted on this market. These suppliers are connected to low-cost shoppers in the US and elsewhere whom they were previously unable to reach.

Wish’s 2020 NASDAQ IPO at $24 per share traded immediately down to $22.75. Since then investors have driven the place lower as Wish’s losses have deepened, even as revenue has grown considerably. Wish’s major institutional shareholders include the quantitative trading firm Susquehanna Financial Group, and family offices, with Vanguard as the third-largest shareholder. Szulczewski owns about 18% of the company and is the single largest shareholder.

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If you decide to buy shares in ContextLogic, just log in to one of our platforms - SaxoInvestor, SaxoTraderGO or SaxoTraderPRO - and search for the ticker ‘WISH’. If you don’t have an account, you can create one by clicking here.

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At the moment, ContextLogic does not pay dividends to investors. Like many technology companies, ContextLogic reinvests its earnings back into the company for growth and expansion into new ventures.

You can see how ContextLogic shares have performed in the past by logging in to your trading platform account to see detailed price charts and historical financial data. If you don’t have an account, you can open one by clicking here.

Information on this page is not intended for investment advice or as an individual recommendation for trading. Reward to the author of this article was / is not related to his / her specific recommendation or views. Although Saxo Bank carefully collects and maintains these pages using reliable sources, Saxo Bank can not guarantee that this information is correct, complete or current. If you use this information without verification, it is at your own expense and risk. No rights can be inferred from the information on these pages. Investment involves risks. Your investment may be worth less. Read more information about the specific product risks on the product pages.

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