Despite the economic turmoil that 2020 brought upon the country, the stock market is still doing unbelievably well. And as a result, many well-known tech companies are moving forward with their plans to IPO this year.
Lemonade, ZoomInfo, Vroom and several other tech companies already had their initial public offerings this year, and even more are rumored, like Airbnb, Palantir and Robinhood.
Now you can add Wish to that list. On Monday, the San Francisco-based e-commerce company announced that it submitted a Form S-1 draft registration statement to the Securities and Exchange Commission. This filing is a necessary legal step in order to be listed as a publicly traded company. Wish says that its IPO is expected to take place once the SEC reviews and approves the filing.
Wish created an e-commerce platform that aggregates products from over one million sellers and uses machine learning to pick the best products for each specific shopper. With this huge selection, Wish aims to make e-commerce affordable while shipping directly to the doors of its customers.
Wish has over 70 million active users and sells an average of more than three million products per day, and the company was valued at more than $11 billion last year, after raising an undisclosed amount in its Series H funding round.
It’s still not known exactly when Wish will IPO, but it’s growing rapidly in the meantime. Wish is currently hiring for dozens of roles across engineering, product, marketing and design.
