Wish and EverC Join Forces in Fight Against Counterfeits

Rhea-AI Summary

Wish has partnered with EverC to enhance its ability to combat product counterfeits on its platform through AI-driven risk management solutions. EverC's MarketView will automate the detection of dangerous and counterfeit products, improving operational efficiency and user experience. This collaboration aligns with Wish's focus on consumer safety and operational excellence, key pillars of their business strategy. The agreement allows Wish to expand into new product categories confidently, complying with evolving e-commerce regulations.

Positive

• Partnership with EverC enhances Wish's counterfeit detection capabilities through AI technology.
• Improved operational efficiencies expected from the integration of EverC's MarketView.
• The agreement supports Wish's commitment to consumer safety and experience enhancement.

Negative

• None.

Wish marketplace to benefit from automated capabilities from the AI-driven merchant and marketplace risk solutions leader

SAN FRANCISCO--(BUSINESS WIRE)-- EverC, a leading provider in AI-driven merchant and marketplace risk intelligence and insights for ecommerce and payment providers, and ContextLogic Inc. (d/b/a “Wish”) (NASDAQ: WISH), one of the world’s largest mobile ecommerce platforms, today announced they have entered into an agreement to fight product counterfeits. The Wish global online marketplace has selected EverC’s MarketView, a marketplace risk management solution that can detect dangerous, illicit, and counterfeit products in as quickly as seconds using its AI technology.

Wish recognizes regulations in the e-commerce industry are rapidly evolving. With this agreement with EverC, Wish can increase operational efficiencies, aim to objectively detect and identify listings with potentially dangerous, illicit, and counterfeit products from their global online marketplace, while at the same time, improve the user’s overall experience on the platform.

“We are thrilled to partner with Wish,” said Maya Barkay, Vice President of Marketing at EverC. “Our fully automated solution will enable Wish to onboard new merchants, expand into new categories with confidence, and drive their company’s marketplace growth in a way that is consistent with not only regulatory guidelines, but also our companies’ policies and shared commitments to fighting piracy and counterfeit products.”

“Improving the consumer experience and achieving operational excellence are two of our three foundational pillars as a company, so we have found great alignment in our needs with this business partnership with EverC,” said Maral Behnam-Garcia, Senior Director of Global Brand Protection and Intellectual Property at Wish. “Wish is always seeking improvement in the technological automation of our enforcement of our content policies; not to mention, the EverC product greatly complements the Wish Standards program, which rewards merchants that consistently provide an exceptional experience to our marketplace users.”

As part of their commitment to an improved customer experience, signified by a recent rebrand, Wish has partnered with EverC to incorporate new automation capabilities in addition to its current policy enforcement efforts. By leveraging the EverC solution for efficient, effective risk management, Wish can remain focused on creating a shopping experience that is engaging, yet safe and secure.

About EverC:

EverC is focused on powering safe, scalable growth for the online seller ecosystem, with the world’s first fully automated, AI-driven merchant and marketplace risk management platform. We provide immediate and ongoing merchant risk intelligence for banks, acquirers, payment providers, and marketplaces. Learn more at www.everc.com

About Wish:

Wish (ContextLogic Inc. (d/b/a Wish) brings an affordable and entertaining shopping experience to millions of consumers around the world. Since our founding in San Francisco in 2010, we have become one of the largest global ecommerce platforms, connecting millions of value-conscious consumers to hundreds of thousands of merchants globally. 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. For more information about the company or to download the Wish mobile app, visit www.wish.com or follow @Wish on Facebook, Instagram and TikTok or @WishShopping on Twitter and YouTube.

Forward Looking Statements

This news release contains forward-looking statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, statements regarding Wish's outlook, priorities, strategic direction, partnership with EverC and its impact, including the effectiveness of the new tool to identify dangerous, illicit, and counterfeit products, produce operational efficiencies, and positively influence the consumer experience, improved application experience and enhancements, including new features and initiatives related to women’s fashion and the new deals hub, shipping and logistics programs, including returns, new merchant programs and relationships, business operations, and growth initiatives. In some cases, forward-looking statements can be identified by terms such as “anticipates,” “believes,” “could,” “estimates,” “expects,” “foresees,” “forecasts,” “guidance,” “intends” “goals,” “may,” “might,” “outlook,” “plans,” “potential,” “predicts,” “projects,” “seeks,” “should,” “targets,” “will,” “would” or similar expressions and the negatives of those terms. These forward-looking statements are subject to risks, uncertainties, and assumptions. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Further information on these and additional risks that could affect Wish’s results is included in its filings with the Securities and Exchange Commission (“SEC”), including its most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and future reports that Wish may file with the SEC from time to time, which could cause actual results to vary from expectations. Any forward-looking statement made by Wish in this news release speaks only as of the day on which Wish makes it. Wish assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221011005856/en/

Media Contact:

Mary York, York Public Relations

mary@yorkpublicrelations.com

Carys Comerford-Green, Wish

ccomerfordgreen@wish.com

IR contact:

Randy Scherago, Wish

ir@wish.com

Source: Wish

FAQ

What is the partnership between Wish and EverC about?

Wish has partnered with EverC to enhance counterfeit detection on its marketplace using AI-driven solutions.

How will the EverC partnership affect Wish's operations?

The partnership is expected to improve operational efficiencies and enhance the user experience on Wish's platform.

What technology will Wish use to fight counterfeits?

Wish will utilize EverC's MarketView, an AI-driven marketplace risk management solution.

What are the main benefits of Wish's collaboration with EverC?

The collaboration aims to increase efficiency, improve product safety, and help Wish expand into new product categories.

What impact does this partnership have on Wish's stock (WISH)?

The partnership may enhance operational efficiencies and consumer trust, potentially positively affecting Wish's stock performance.