Wish CEO Launches Vlog Series to Share Updates on Turnaround Journey

Rhea-AI Summary

ContextLogic Inc. (WISH) has launched a new vlog series titled ‘Inside Wish’, featuring CEO Vijay Talwar. The series aims to provide updates on the company’s transformation journey, focusing on enhancing merchant and customer experiences. New episodes will be released every few weeks on various social platforms. Key highlights of Wish’s progress include a new leadership team, the launch of Wish Standards, and a homepage redesign. Talwar emphasizes open dialogue with audiences, inviting feedback and questions to strengthen community engagement.

Positive

• New senior leadership team including chief product officer, chief technology officer, and chief financial officer.
• Launch of Wish Standards to improve merchant-consumer experiences.
• Streamlined operations by exiting 79 markets to focus on 61 priority markets.
• Introduction of an invite-only merchant program to enhance marketplace quality.
• Launch of Wish Clips for improved user engagement on the app.
• Redesigned homepage for easier product discovery on Android.

Negative

• None.

New vlog series “Inside Wish” features CEO Vijay Talwar on the transformative changes happening at Wish

SAN FRANCISCO, June 30, 2022 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ: WISH), one of the world’s largest mobile ecommerce platforms, today announced the launch of ‘Inside Wish’ - a new vlog series featuring Wish CEO, Vijay Talwar, providing one to two minute updates on the progress of the company’s turnaround. New video episodes will be posted every few weeks across Wish’s YouTube, LinkedIn and Twitter channels.

Throughout the series, Vijay will shine a light on some of the changes underway at Wish - from the enhancements to the merchant and customer experience, through to the shift in company culture to focus on the consumer. The series will also include personal anecdotes, observations and lessons learned along the way.

“‘Inside Wish’ is all about creating an open dialogue with our audiences. We’re undergoing a period of transformation, and want our audiences to be a part of that journey and play a role in how we evolve,” said Vijay. “Each week I’ll be taking questions and suggestions and giving my honest, uncut perspective on where I think we can win and where we need to improve.”

Viewers can email insidewish@wish.com with their questions, episode ideas, thought starters, or to give feedback on the series. Wish will use this feedback to inform future episodes.

Vijay continued, “When I first joined the company, I said ‘I firmly believe the best years for Wish are right ahead of us.’ I still believe this to be true. We have a long road ahead of us - and many episodes of ‘Inside Wish’ to share - before this vision is realized. It’s important to me that this series brings everyone into the fold during this pivotal time in Wish’s history.”

Wish first announced its turnaround plans last year. Key highlights of the company’s progress so far include:

• New senior leadership team - in addition to Vijay, Wish has bolstered its leadership team with a new chief product officer, chief technology officer and chief financial officer.
• Launch of Wish Standards - a robust, comprehensive merchant incentive program to help foster better merchant-consumer experiences on the Wish platform.
• Country rationalization - Wish has exited 79 markets so that it can invest and optimize its consumer experience in 61 high priority markets.
• Invite-only merchant program - all new, incoming Wish merchants must now undergo a screening process before joining the Wish marketplace.
• Wish Clips - new shoppable video experience now available on the Wish app.
• New homepage redesign - consumers on Android can now more easily discover trending products, browse recommendations and seek out the latest deals. iOS updates to the homepage are forthcoming.

To learn more about Wish, please visit www.wish.com. To watch the first episode of Inside Wish, please visit here.

About Wish:
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 over half a million 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 the effectiveness of the turnaround strategy initiatives, related timelines and their ability to enhance the customer experience as well as statements regarding Wish's outlook, priorities, strategic direction, new merchant programs and relationships, partnership expectations, 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.

Media contact:

Carys Comerford-Green
press@wish.com

IR contact:

Randy Scherago
ir@wish.com

FAQ

What is the purpose of the 'Inside Wish' vlog series?

The 'Inside Wish' series aims to provide updates on the company's transformation and engage audiences with behind-the-scenes insights.

Who is featured in the 'Inside Wish' vlog series?

The series features CEO Vijay Talwar, who shares updates and personal anecdotes about the company.

What are some changes Wish has made recently?

Recent changes include a new leadership team, the launch of Wish Standards, and exiting 79 markets to focus on priority areas.

How can audiences interact with the 'Inside Wish' series?

Viewers can email insidewish@wish.com with questions, episode ideas, or feedback.

What improvements have been made for Wish's merchant program?

Wish has implemented an invite-only merchant program, requiring new merchants to undergo a screening process.

What can users expect from the redesigned Wish homepage?

The redesigned homepage allows users to easily discover trending products and browse recommendations.