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.

11/07/2023 04:10 PM

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Wish Reports Third Quarter 2023 Financial Results; Initiates a Process to Explore a Range of Strategic Alternatives

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ContextLogic Inc. (WISH) Reports Q3 2023 Financial Results, Initiates Strategic Alternatives Process - Revenue Decline, Net Loss, and Board of Directors Exploration Highlighted

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11/06/2023 04:10 PM

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WISH Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

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ContextLogic Inc. (d/b/a Wish) announced the grant of inducement awards under its Inducement Plan to 2 new employees. The awards consist of Restricted Stock Units (RSUs) for a total of 69,150 shares of the Company's Class A common stock. The RSUs will vest over time based on the recipients' continued service.

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11/03/2023 08:30 AM

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Wish Releases Inaugural ‘Anti-Counterfeiting Report’ as it Continues to Crack Down on Counterfeiters

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ContextLogic Inc. (d/b/a Wish) releases its inaugural 'Anti-Counterfeiting Report' to combat the listing and sale of counterfeit goods on its platform. The report highlights tools and resources to detect and enforce against counterfeit goods, progress made in the past 6 months, and partnerships and programs to prevent counterfeits. Wish has processed over 9,000 IP violations, responded to 98% of takedown requests within 24 hours, issued over 700,000 infractions, and signed up more than 2,300 brands to its Brand Partner Program.

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11/02/2023 05:32 AM

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Wish Partners with French Ecommerce SaaS Business Octopia to Further Expand its European Merchant Base

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ContextLogic Inc. (Wish) announces partnership with Octopia to allow Europe-based merchants to sell on its platform. Wish will only allow merchants with ratings of 4 or above. Octopia's merchants offer a range of goods including consumer electronics, beauty, fashion, home & garden, and hobbies. Through the partnership, Octopia merchants will have free access to a direct integration module on the Octopia platform that connects them to Wish's merchant dashboard.

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10/11/2023 09:00 AM

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Wish Unveils Early Holiday ‘Gift Guide’ Campaign as Festive Preparations Kick Off

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New multi-channel ad campaign to raise awareness of Wish as the ultimate destination for holiday gifting.

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10/10/2023 04:15 PM

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Wish to Announce Third Quarter 2023 Results on November 7, 2023

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ContextLogic Inc. (Wish) to report Q3 2023 financial results on November 7, 2023.

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09/26/2023 09:00 AM

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Wish Joins Forces with PUDO Inc. to Elevate Online Shopping Convenience for U.S. and Canada Shoppers

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ContextLogic Inc. (WISH) partners with PUDO Inc. to offer click and collect service at over 1,200 PUDOpoint counters, aiming to improve shopping experience and convenience for Wish customers. Wish plans to expand its pick-up network to 24,000 points globally by year-end. Flat rate shipping fee introduced earlier this year.

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09/20/2023 07:40 AM

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Wish Leans into Sexual Wellness as New Study Reveals Eight in Ten Feel Sexual Wellness is an Integral Form of Self-Care

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ContextLogic Inc. (WISH) plans to expand its range of sexual wellness products through a dedicated area on the Wish app and website, following a study that reveals high usage and interest in sexual wellness products among sexually active Americans. Millennials and Gen Z are the most likely generations to explore new products. Lubricants, lingerie, vibrators, and vitamins/supplements are popular choices. The study also highlights the importance of sexual wellness for overall well-being. Stress and affordability concerns are identified as barriers. The global sexual wellness market is predicted to grow to around USD 110.33 billion by 2030 with a CAGR of roughly 8.49%.

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08/03/2023 04:10 PM

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Wish Reports Second Quarter 2023 Financial Results

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ContextLogic Inc. (Wish) reports Q2 2023 financial results, with revenues decreasing 42% YoY to $78 million. Net loss was $80 million compared to $90 million in Q2 2022. Adjusted EBITDA was a loss of $66 million. Third-quarter revenue is expected to be in the range of $55 million to $65 million.

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07/28/2023 04:15 PM

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WISH Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

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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.