Wish is one of the online e-commerce platforms, which helps both sellers as well as buyers to make transactions.
The Wish was started in the year 2010 by Danny Zhang (former CTO), Piotr Szulczewski (CEO) and James Prendergast (COO).
Wish is certainly operated by ContextLogic Inc., situated in San Francisco.
The e-commerce platform makes use of browsing technologies that customize visual shopping for every customer instead of depending on a format including a search bar.
The brand helps sellers to make a list of numerous products on Wish as well as sell them directly to a consumer.
Wish functions like an intermediary handling payment, however, does not stock any product themselves and handle returns.
As mentioned earlier, Wish was primarily started as a software company as ContextLogic by Peter Szulczewski, who is a former Google engineer.
In the year 2010, ContextLogic acquired over $1.7 million in investments as well as involved Yelp CEO Jeremy Stoppelman.
In the year 2011, Szulczewski also invited college friend, namely Danny Zhang in order to relaunch the company with the name, Wish.
The Wish was started as an application, allowing shoppers to build wish lists including their favourite products prior to matching them with any merchant. The company further earned a revenue using a Pay-per-click model and commercialising on Facebook.
In the year 2013, Szulczewski met Hans Tung, who is an investor with GGV Capital in Menlo Park, California. He was the one who highlighted that a lot of sales were coming from Florida, Texas as well as the Mid-West instead of California or New York.
Wish emerged as an e-commerce website after requesting merchants to provide their products on the Wish app directly and with Wish acquiring a portion of every sale.
In the year 2017, the company signed a two-year partnership along with the NBA’s Los Angeles Lakers.
In the year 2018, Wish app was the largest downloaded shopping app across the world.
The revenue of the company was also doubled to $1.9 billion.
In the year 2019, Wish was named as the 3rd biggest e-commerce marketplace in the U.S by sales.
In August 2019, the company got a Series H funding round, that was led by General Atlantic (equity firm). This took the brand’s assets to dollar 11.2 billion.
Over one million merchants make a list of products on the Wish platform and sell directly to consumers. The brand eliminates distributor fee for the sellers as well as provides shoppers with low-priced merchandise.
The products sold in Wish are normally small products that are cheap to ship. They are also aided by an agreement between the United States Postal Service and China Post, lowering the expense of shipping for goods with less than 4.4 pounds.
The company also offer Express Shipping in five days, or six to eight days in certain cases, and also standard shipping, which takes two to three weeks- for those customers who give importance more on savings than the speed of delivery.
Wheel of Fortune style game and Blitz Buy of Wish are a combined layer of gamification, providing consumers with extra discounts on some top-selling items.
Go download the Wish app today!
It is available on both iOS & Android.