We want to hear from you. Data is a real-time snapshot *Data is delayed at least 15 minutes. The company is expected to begin trading on Dec. 16, according to IPO Scoop. Get this delivered to your inbox, and more info about our products and services. Wish had planned to sell 46 million shares within a targeted range of $22 and $24 per share. It will trade on the Nasdaq with the symbol "WISH." Shares fell 16% on opening day following the IPO, … Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Why It Matters: The owners of Wish earlier indicated a range of $22 to $24 for the IPO. Wish employs big data principles, machine-learning, and state-of-the-art search technologies to create a highly-visual, entertaining, and personalized browsing experience for each user. The e-commerce startup made a confidential IPO filing with the SEC on Aug. 31. ContextLogic, Wish's parent company, plans to list its shares on the Nasdaq under the symbol "WISH." The company plans to offer 46 million shares at an IPO price range between $22 … Wish had planned to sell 46 million shares within a targeted range of $22 and $24 per share. After all, the e-commerce industry itself was worth $2.1 trillion in 2019, and that number may double soon. The offering comes on the heels of successful IPOs from Airbnb and Doordash, which skyrocketed in their debuts. All Rights Reserved. Wish's parent company, ContextLogic, plans to list its shares on the Nasdaq under the symbol WISH. TechCrunch - 2 months ago. A Division of NBCUniversal. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Last week, the company estimated that it would price shares in the range of $22 to $24, and on Tuesday it priced at the top of that range. Wish was founded in 2010 by Peter Szulczewski. The shares are expected to begin trading on the Nasdaq under the symbol “WISH” on Wednesday. It was last valued by private investors at $11.2 billion. The company issued 46,000,000 shares at a price of $22.00-$24.00 per share. E-commerce marketplace Wish is aiming to raise as much as $1.1 billion in its initial public offering, giving it a valuation of up to $14.07 billion, the company revealed in a new filing Monday. Its stock trades on the Nasdaq under the ticker symbol WISH. W ISH is the word circled by IPO investors this week. Wish, which said it is the most downloaded shopping app, has 100 million monthly active users in more than 100 countries. Wish's debut is likely to cap off what's already been a busy year for tech IPOs, particularly in the month of September, which saw a flood of software companies go public. The offering comes on the heels of successful IPOs from Airbnb and Doordash, both of which skyrocketed in their debuts. Wish’s debut is likely to cap off what’s already been a busy year for tech IPOs, particularly in the month of September, which saw a flood of software companies go public. In its S-1 filing, Wish said it has grown its catalog to more than 150 million items and sells about 1.8 million items per day. Shares of ContextLogic Inc. Wish is going public at a time when online sales are soaring, as the coronavirus pandemic has pushed more people to avoid making trips to stores in favor of shopping safely at home on their smartphone. Sign up for free newsletters and get more CNBC delivered to your inbox. ", "We focus on delivering as much value for our consumers as possible, and that's served us well," Szulczewski told David Faber on "Squawk on the Street." Wish is poised to price IPO at least at top of range Wed, Dec 16, 2020 - 8:10 AM Online retailer Wish has priced its public offering at the top end of its marketed range at US$24 a share, according to people familiar with the matter. Wish is an online marketplace that features a variety of discounted goods, ranging from cheap home wares and apparel to electronics and toys. Private investors valued the company at $11.2 billion. The opening trade was $22.75 per share, below its IPO pricing of $24 per share, which was at the high end of expectations. Americans are projected to spend $99 billion on their pets this year. The company filed its IPO prospectus , which showed moderate revenue growth and … The opening trade was $22.75 per share, below its IPO pricing of $24 per share, which was at the high end of expectations. Wish (WISH) San Fransisco e-commerce giant Wish has its eye on an IPO and has seen respectable growth in the decade it’s been in business. Wish Files For IPO Citing Losses, Revenue Growth Due To COVID-19 Wish revealed in its IPO filing that it is quite cash wealthy, with about $1.1 billion in cash, cash equivalents and marketable securities. What to Know About Wish’s 2020 IPO. Wish’s filing sees it join the 2020 IPO wagon. Wish files to go public with 100M monthly actives, $1.75B in 2020 revenue thus far. Wish is issuing 46 million shares in its IPO, and plans to raise $1.1 billion from the issue. The company's reputation for selling discounted knickknacks has earned it comparisons to an online dollar store. The app offers a slew of products for just a few dollars as a way to target low- to middle-income consumers with more affordable options than they can find on other sites, including Amazon. ContextLogic, Wish's parent company, plans to list its shares on the Nasdaq under the symbol "WISH." Wish reported $1.75 billion in revenue for the nine months ended Sept. 30, a growth rate of 32%, while Amazon posted first-party sales growth of 38% year over year to $48.4 billion in the third quarter. The shares are expected to trade Wednesday morning on the Nasdaq exchange under the ticker symbol … The company's IPO prospectus revealed it's experiencing slower growth, from a much smaller base, than online retail counterparts like Amazon and Walmart. ContextLogic, Inc., which runs Wish.com, a bargain hunters’ mobile shopping site, is going public with a proposed symbol – WISH – that’s right in tune with the holiday shopping season. Wish's parent company, ContextLogic, filed its IPO prospectus with the SEC last month. In a press release from August 2020, the company announced it had confidentially submitted a draft registration statement with the Securities and Exchange Commission relating to a proposed Initial Public Offering. The filing also revealed Wish's heavy concentration in China, which weighed on its business during the coronavirus pandemic. Got a confidential news tip? Goldman Sachs & Co., J.P. Morgan and BofA Securities served as the underwriters for the IPO and Citigroup, Deutsche Bank Securities, UBS Investment Bank, RBC Capital Markets and Credit Suisse were co-managers. ContextLogic, Wish's parent company, filed to go public last month. Shares of Wish opened at $22.75 apiece, below the $24 they were sold for in its $1.1 billion initial public offering. Amazon isn’t the only e-commerce giant in the US. Wish, a shopping app for less affluent consumers, on Monday filed with the Securities and Exchange Commission for an initial public offering, seeking to raise as much as $1.1 billion. E-commerce marketplace Wish is aiming to raise roughly $1.1 billion in its upcoming initial public offering, giving it a valuation of up to $14.07 billion. Publicly filed: November 20th; Available to trade: Dec 16th; Exchange: NASDAQ; Ticker symbol: WISH Sign up for free newsletters and get more CNBC delivered to your inbox. It lost $176 million in the first nine months of 2020. The Wish IPO date will depend on several factors. Wish has managed to hit unicorn status—a startup with a valuation exceeding $1 … A Division of NBCUniversal. 5. Get this delivered to your inbox, and more info about our products and services. The app offers a slew of products for just a few dollars as a way to target low- to middle-income consumers with more affordable options than they can find on other sites, including Amazon. Wish, founded in 2010 by former Google engineer Peter Szulczewski, is an online marketplace that features a variety of discounted goods, ranging from cheap home wares and apparel to electronics and toys. But Szulczewski told CNBC on Wednesday that he believes Wish's "value is much higher.