Contextlogic, the parent company of the American version of pinduoduo, officially landed on the Nasdaq Stock Exchange on Wednesday. The company’s stock price opened at $22.75, down more than 5%. Since then, the company’s IPO price is $24, which is at the top of the pricing range. It has issued 46 million shares with a financing scale of $1.1 billion and a stock code of “wish”. < p > < p > wish was founded in Silicon Valley by Zhang Sheng of Chinese origin and Peter szulczewsk of Europe. It was formerly a technology service company named contextlogic, which was oriented to mobile advertising business. < p > < p > wish entered the field of foreign trade e-commerce in 2013, focusing on mobile app operation, mainly selling “ultra-low price” small items, such as women’s wear, watches, sneakers and jewelry. Most of the platform sellers come from Asia. According to the data of marketplaceuse, 94% of the sellers in wish are from China, and 27% from Guangdong. Wish aims at middle and lower class consumers outside American cities, which is called “pinduoduo” of American version. According to the prospectus, wish’s revenue in 2017, 2018 and 2019 was US $1.1 billion, US $1.728 billion and US $1.9 billion, respectively; wish’s revenue in the first nine months of 2020 was $1.747 billion, compared with $1.325 billion in the same period of last year. The operating losses of wish in 2017, 2018 and 2019 were US $147 million, US $223 million and US $144 million respectively; wish had an operating loss of US $120 million in the first nine months of 2020 and US $24 million in the same period of the previous year. Privacy Policy