ContextLogic Inc. - WISH STOCK NEWS

Welcome to our dedicated page for ContextLogic news (Ticker: WISH), a resource for investors and traders seeking the latest updates and insights on ContextLogic stock.

ContextLogic Inc. (NASDAQ: WISH), commonly known as Wish, is a leading mobile e-commerce platform dedicated to connecting millions of consumers with an extensive range of affordable products delivered directly to their doors. Founded in 2011 and headquartered in San Francisco, Wish has expanded its operations globally, boasting additional offices in Shanghai, Toronto, Dublin, Amsterdam, and other major cities.

Wish’s mission is to provide an accessible and convenient shopping experience for everyone. The platform supports approximately 500,000 merchant partners and over 300 million users worldwide, who frequently rate it as the best mobile shopping app on iOS and Android platforms. Leveraging advanced technology and data science, Wish offers a highly visual, entertaining, and personalized shopping experience, making it a preferred choice for value-conscious consumers globally.

Recently, ContextLogic made significant strides by entering into an asset sale agreement with Qoo10 Pte. Ltd. (Qoo10). As per the agreement, which is pending shareholder approval, ContextLogic plans to sell certain assets to Qoo10. This transaction is anticipated to close shortly, following a successful vote by the majority of ContextLogic’s shareholders. This move is expected to maximize shareholder value by improving the company’s financial standing with an approximate $2.7 billion of net operating loss (NOL) carryforwards post-transaction.

The company has raised over a billion dollars from top-tier investment funds including Temasek, DST, GGV Capital, Founders Fund, and Jerry Yang’s AME Cloud. With these investments, Wish continues to innovate and enhance its platform to offer a seamless shopping experience to its customers.

With a focus on customer satisfaction, Wish continuously updates its product offerings and improves its delivery services to ensure a reliable and enjoyable shopping experience. The company’s strong financial position and strategic partnerships enable it to remain a key player in the e-commerce market.

For the latest updates, financial reports, and upcoming events, investors and stakeholders can visit the company’s investor relations website at https://ir.contextlogicinc.com.

04/03/2024 08:30 AM

News

ContextLogic Reminds Stockholders to Vote FOR the Value-Maximizing Transaction with Qoo10 Today

Rhea-AI Summary

ContextLogic Inc. (WISH) reminds stockholders to vote 'FOR' proposed Asset Sale transaction with Qoo10 Pte. to preserve $2.7 billion in NOLs. The Board believes the transaction will reduce cash burn, monetize assets at high value, and benefit stockholders. Independent parties support the value-maximizing transaction.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

2.88%

Tags

04/02/2024 04:05 PM

News

ContextLogic Announces Post-Closing Board of Directors and Management Team

Rhea-AI Summary

ContextLogic Inc. (WISH) announces reconstitution of Board of Directors and management team post Qoo10 transaction, focusing on maximizing $2.7 billion NOLs. Rishi Bajaj to become CEO, joined by four new independent directors. Shareholders urged to vote for the transaction.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

2.88%

Tags

03/25/2024 08:00 AM

News

ContextLogic Stockholders Can Vote Today “FOR” the Value Maximizing Transaction with Qoo10

Rhea-AI Summary

ContextLogic Inc. (WISH) reminds stockholders to vote 'FOR' the proposed Asset Sale transaction with Qoo10 Pte. The transaction aims to reduce cash burn, monetize operating assets at the highest value, and preserve significant value for stockholders. Post-closing cash estimated at $150-157 million, preserving $2.7 billion of NOLs. The Company plans to utilize the NOLs efficiently. Completion expected in Q2 2024, subject to stockholder approval.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

0.18%

Tags

03/18/2024 08:00 AM

News

ContextLogic Files Definitive Proxy Statement Regarding Proposed Transaction with Qoo10

Rhea-AI Summary

ContextLogic Inc. (WISH) recommends stockholders vote 'FOR' the pending transaction with Qoo10 to preserve $2.7 billion of NOLs. The special meeting is set for April 12, 2024, to finalize the acquisition of Wish ecommerce platform for $173 million in cash.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

-1.97%

Tags

03/14/2024 05:30 AM

News

Wish Signs Satirical YouTubers Zac Alsop and Grandpa Ray to Front its Fashion Category

Rhea-AI Summary

ContextLogic Inc. (WISH) partners with satirical YouTubers Zac Alsop and Grandpa Ray for a fashion campaign, showcasing quirky outfits from everyday items. The campaign aims to bring humor to the luxury fashion industry through social media and Wish's platforms.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

-1.45%

Tags

03/05/2024 07:00 AM

News

Wishpond Marks First Anniversary of Propel IQ; Highlighting Lower Customer Churn Rates and Accelerating Customer Growth

Rhea-AI Summary

Wishpond Technologies Ltd. reports significant growth and positive impact of Propel IQ, its all-in-one digital marketing platform. With over 500 new customers, Propel IQ shows up to 40% lower customer churn rate, 10-fold increase in MRR, over 80% gross margin, and 20% higher customer LTV. The platform integrates various marketing solutions, driving growth and profitability for Wishpond.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

-- %

Tags

03/04/2024 04:10 PM

News

Wish Reports Fourth-Quarter and Fiscal Year 2023 Financial Results

Rhea-AI Summary

ContextLogic Inc. (WISH) reports financial results for Q4 and fiscal year 2023, with revenues at $53 million, a 57% YoY decrease. Net Loss at $68 million. Adjusted EBITDA shows a loss of $54 million. Preliminary January 2024 results indicate revenues of $14 million and an Adjusted EBITDA loss of $13 million.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

-1.7%

Tags

02/27/2024 04:10 PM

News

Wish to Announce Fourth Quarter and Full Year 2023 Results on March 4, 2024

Rhea-AI Summary

ContextLogic Inc. (WISH) to report Q4 and full year 2023 financial results on March 4, 2024, without a conference call due to a pending transaction.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

-1.07%

Tags

02/12/2024 08:00 AM

News

ContextLogic Announces Agreement to Sell Substantially All Operating Assets and Liabilities Associated with Wish to Qoo10 for $173 Million in Cash

Rhea-AI Summary

ContextLogic Inc. (WISH) announces the sale of its Wish ecommerce platform to Qoo10 for approximately $173 million in cash, representing a 44% premium at $6.50 per share. The transaction aims to preserve $2.7 billion in Net Operating Losses (NOLs) and explore strategic alternatives with a financial sponsor. The Board also adopts a Tax Benefits Preservation Plan to safeguard NOLs. The deal is expected to enhance cross-border ecommerce opportunities and improve customer experience.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

39.11%

Tags

11/15/2023 09:00 AM

News

Wish Further Expands its Logistics as a Service (LaaS) Arm with the Launch of ‘WishPost Smart Parcel’

Rhea-AI Summary

ContextLogic Inc. (WISH) Launches WishPost Smart Parcel, a Logistics as a Service (Laas) product, to provide seamless and efficient shipping solutions to non-Wish merchants. The service leverages Wish’s global network of Logistics Service Providers (LSP) for rapid, reliable, and cost-effective deliveries. It supports shipments from China to key destinations including the UK, France, Germany, Switzerland, Belgium, the Netherlands, Japan, and the United States. Wish also introduced flat rate shipping to customers in its major markets.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

-0.29%

Tags

FAQ

What is the current stock price of ContextLogic (WISH)?

The current stock price of ContextLogic (WISH) is $5.13 as of May 10, 2024.

What is the market cap of ContextLogic (WISH)?

The market cap of ContextLogic (WISH) is approximately 125.6M.

What does ContextLogic Inc. (Wish) do?

ContextLogic Inc., known as Wish, is a mobile e-commerce platform that connects consumers with a wide range of affordable products delivered directly to their doors.

Where is Wish headquartered?

Wish is headquartered in San Francisco, California, with additional offices in cities such as Shanghai, Toronto, Dublin, and Amsterdam.

How many users and merchant partners does Wish support?

Wish supports over 300 million users and approximately 500,000 merchant partners worldwide.

What recent transaction has Wish entered into?

Wish has entered into an asset sale agreement with Qoo10 Pte. Ltd. (Qoo10), which is expected to close pending shareholder approval.

Who are some of Wish’s major investors?

Some of Wish’s major investors include Temasek, DST, GGV Capital, Founders Fund, and Jerry Yang’s AME Cloud.

What are the benefits of the asset sale to Qoo10?

The asset sale is expected to maximize shareholder value by improving the company’s financial position with an approximate $2.7 billion of net operating loss (NOL) carryforwards post-transaction.

How can stockholders vote on the asset sale transaction?

Stockholders can vote online, by phone, or by mail using the proxy card provided in the previously distributed proxy materials.

What happens if the asset sale transaction is approved?

If approved, ContextLogic will continue as a publicly traded company, with a focus on utilizing its NOLs to maximize value for its shareholders.

Where can I find more information about ContextLogic’s financials?

More information about ContextLogic’s financials can be found on the company's investor relations website at https://ir.contextlogicinc.com.

What are the latest updates and news about ContextLogic?

The latest updates and news about ContextLogic, including financial results and asset sale developments, can be accessed on their investor relations website.