Bargains Made Fun,
Discovery Made Easy
Founded in 2010 and headquartered in San Francisco, Wish is one of the largest global ecommerce platforms, connecting millions of value-conscious consumers to thousands of merchants around the world. Wish combines technology and data science capabilities and an innovative discovery-based mobile shopping experience to create a highly-visual, entertaining, and personalized shopping experience for its users.
Large e-commerce market opportunity
- The global e-commerce market
o Forecast to grow at a CAGR of 10.6% from 2021 to 2025
o Estimated at ~$7.4 trillion by 2025, accounting for ~24% of total retail sales
Uniqueness of the Wish marketplace
- Vision: Unlock ecommerce for the underserved
- We want to be known for:
o Inspiration & discovery
o The destination for “home and life”
- Machine learning capabilities and fun/delightful experience
- Global logistics network and cross-border e-commerce strength
Management’s e-commerce strength
- New C-suite leadership team with strong e-commerce experience
- Buyer conversion and custom retention rate y/y improvement in Q2 2023
- 15 Day TTD rolled out to a number of major markets
- Customer order cancellation and refund rates dropped ~47% and ~30% y/y, respectively in Q2 2023
- Customer NPS: ~28% y/y improvement in Q2 2023
- Globally, Wish has 12 million Monthly Active Users (as defined by the US SEC*) (Q2, 2023).
*Wish’s SEC MAU definition: ’Monthly Active Users’ is the number of unique customers that visited the Wish platform, either on our mobile app, mobile web, or on a desktop, during a particular month. An active user is identified by a unique email-address; a single person can have multiple customer accounts via multiple email addresses. MAUs for a given reporting period equal the average of the MAUs for that period. The change in MAUs in a reported period captures both the inflow of new users as well as the outflow of existing users who did not visit the platform in a given month.
- Within tthe EU/EEA, Wish has over 5 million Monthly Active Users (as defined by the EU**) (H1, 2023).
**Wish’s EU MAU definition: ’Monthly Active Users’ is based on the numbers of unique European-based (but non-UK) customers AND merchant-sellers AND other unique visitors (i.e., logged-out and guest experience users, and other Wish brand/channel partners) merely accessing, viewing, receiving, or using any Wish platform service (incl. either web browser or mobile application) at least once in the immediate prior month, regardless of transactional activity. MAUs for each six (6) month disclosure-update period equals the average of the MAUs over the immediate prior six (6) months. The change in MAUs in any disclosure-update period captures both the inflow of new users as well as the outflow of existing users who did not visit the platform in a given month. This definition is aligned with the broadest calculating method. ‘European-based’ is defined by a residence/mailing, business, billing, or shipping address in the EU-27 or EEA regions.
Healthy balance sheet
- Cash balance of $531M as of Q2 2023, with no long-term debt
Wish Reinforces its Commitment to Consumer Protection Through the Voluntary Signing of the European Commission’s ‘Consumer Protection Pledge’
Nov 30, 2023
Wish Further Expands its Logistics as a Service (LaaS) Arm with the Launch of ‘WishPost Smart Parcel’
Nov 15, 2023
Wish Reports Third Quarter 2023 Financial Results; Initiates a Process to Explore a Range of Strategic Alternatives
Nov 07, 2023