Wish Company: Founders, History, Valuation, and More From Crunchbase

Wish Company: Founders, History, Valuation, and More From Crunchbase

Complete Guide on Wish: the founders, the company’s history, wish technology, valuation, wish contextlogic contact, and more from CrunchBase.

Wish is an online shopping e-commerce site that instantly offers services that shopping malls can offer instantly in the wallets of global consumers, and it is now known as ContextLogic. Crunchbase reports that since its founding in San Francisco, Wish has also raised a sum of $1.6B in funding. The company targets so-called “discounts” customers seeking a good deal. From here on, we will discuss the founders of ContextLogic (Wish), the company’s history, wish technology, valuation, wish contextlogic contact, and more from CrunchBase.

The Founders of Wish and The Company’s History

Going back, Wish was a famous American e-commerce website where buyers and sellers could interact with one another. Szulczewski Piotr and Danny Zhang, formerly the company’s CEO and CTO, established Wish inc in 2010. But now, ContextLogic Incorporated currently manages the Wish service in San Francisco, California.

wish founders Szulczewski Piotr and Danny Zhang
Source: TechCrunch.

The company founded under was originally called ContextLogic, and was founded by Szulczewski Piotr, a prior Google engineer. Yelp’s then-CEO, Jeremy Stoppelman, was a part of the $1.7M investment in ContextLogic that closed in September 2010.

Szulczewski’s former colleague, Danny Zhang, helped him rebrand the firm as Wish inc in May 2011. It was designed to be a platform where consumers could list the items they wanted to buy and have those lists matched with sellers. With a Pay-per-click business model, they also made money off of Facebook ads.

While visiting GGV Capital investing Hans Tung in Park Menlo, California, in 2013, Szulczewski noticed that many more of his company’s sales were arriving from less traditional markets outside California and New York. Wish inc has become an e-commerce platform after it began requiring sellers to organize their goods within the application itself in exchange for an easy of the proceeds.

Wish purchased Locket, intelligent personalization platform, on 14th of July, 2015. In January 2022, Wish named Talwar Vijay as its new CEO.

Wish Technology

With an iOS or Android device, everyone can download the free Wish app to access the Wish global market on the go. They also have an app for partner stores and Wish Shopping List app. These apps connected with each other and bind the shoppers and the sellers together.

wish technology mobile

As you may know, the Wish e-commerce webpage, platform, and mobile wish technology were removed from Google’s top search results in France last November 2021. Ever since French authorities tried to claim that several products sold on the system, Google removed them from its French application store. They were said to be in violation of European regulations. The same authorities charged the system with selling counterfeit goods.

The Company’s Funding and Valuation

ContextLogic (Wish) became the most installed e-commerce application worldwide in 2018, and the firm’s revenue increased to $1.9 billion.

The company was the third-largest e-commerce global market in the U.s by selling in 2019. The wish earned a Series H financing round led by investment company General Mainland in August 2019, increasing the company’s valuation to $11.2 billion. Wish is backed by JD.com. Also, the company decided to go public in 2020 through an IPO.

Wish has received $1.6 billion in funding in 13 rounds. Their most recent funding came from a 2nd Market round last January 2020.

Date of Round ClosingRound NameAmount RaisedInvestorsPre-money Valuation
January 9, 2020Secondary Market$10 mlnVika Ventures
August 1, 2019Series H$300 mlnGeneral Atlantic$10.9 bln
September 16, 2018Secondary MarketConfidential10X Capital
January 1, 2018Funding RoundConfidentialChristian Vizcaino Jordan
September 14, 2017Series G$250 mlnManhattan Venture Partners$8.5 bln
May 16, 2017Series F$500 mlnEverbright-IDG Industrial Fund, Third Point Ventures, Temasek Holdings, GGV Capital, Kostantin von Unger, Founders Fund, Everbright-IDG Insuctrial Fund,DST Global, Atlas Ventures
January 10, 2017Secondary MarketConfidentialAll Blue Capital
June 3, 2015Series E$500 mlnDST Global, Tomales Bay Capital, FJ Labs, DHVC, Binh Tran, 137 Ventures$2.5 bln
October 1, 2014Series DConfidentialBienville Capital
June 21, 2014Series C$50 mlnFiunders Fund, Legend Capital, GGV Capital, Formation 8, Cherubic Ventures, AME Cloud Ventures$350 mln
November 21, 2013Series B$19 mlnGGV Capital, LeFrak, Formation 8, AME Cloud Ventures
May 21,2012Series A$8 mlnFormation 8, Morado Ventures, LeFrak, IT-Farm, AME Cloud Ventures, Acequia Capital

Wish has received funding from 49 investors. The most current investors are General Atlantic and Vika Ventures.

On the 16th of December 2020 IPO, their show was displayed at $24.00. Watch a video interview with Wish founder and CEO Piotr Szulczewski:

The Popularity and Criticism of Wish

Wish of ContextLogic rose to prominence in the e-commerce industry due to its “affordable” offers. The online shop, which sources the great bulk of its merchandise from China, was capable of providing far cheaper costs than Amazon and other competitors. It is inexpensive, given that its market capitalization is virtually equal to the sum of cash it possesses. With a downturn predicted in the near future, the vital issue is whether equity could become even lower.

Instead of just a search bar, the system enables visual adjustments to each user’s buying experience. They facilitate two-way trade by enabling vendors to select and offer their products to clients directly. Wish does not keep inventory or control returns on its own but instead partners with payment processing companies.

Wish Stocks Analysis

Wish stocks is approximately 40% at risk, as retail investors hold the majority of the remaining stock. In other words, the group has the greatest upside (or downside risk). On the contrary hand, banks hold a 37% stake in the corporation. Over the past two years, Wish’s revenue has decreased quarter by quarter. Glenn Lehrman, Wish business spokesperson, informed Crunchbase Media via e-mail that the firm’s revenue in 2022 increased compared to the previous year and is now in $2.1 billion.

wish contexlogic stock price chart
Source: MarketWatch.

In fact, last quarter (Q2), revenue declined by 80% annually. In addition, the firm’s 12-month trailing massive reduction was $272 million. Given its poor business foundations and profit-making issues, investors may explore purchasing the firm’s shares while the share is priced as a retail investor. Investor sentiment in Wish’s service quality and capacity to deliver a great consumer experience is now extremely low.


Numerous establishments evaluate their success relative to an index that represents the market. Therefore, they tend to pay a heightened level of consideration to businesses that are part of key indices. As can be implied, large shareholders have a sizable proportion of ContextLogic stock in their portfolios. This may be interpreted that the business possesses a certain level of trustworthiness in the eyes of the banking industry.

However, one should exercise extreme caution before putting their faith in the ostensible confirmation that comes from investment firms. Even they are capable of making mistakes occasionally. When two huge investment banks try to get out of the identical share at the same moment, it is not unusual for the share value to fall significantly as a result. From the macro environment to the governance issues confronting the company, there is a significant amount of uncertainty surrounding ContextLogic’s stock.

Despite the fact that the marketing strategy is weak and the economics are poor, it is possible that shorting the firm’s stock would not be profitable for investors because the business has sufficient cash on hand to maintain the present burn rate for several quarters. After they have managed to turn it around, many people would prefer to purchase another stock at a greater price and keep it for themselves.

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