Wish.com valued at $11bn in new fundraising

Online retailer Wish has been valued at $11bn

Mobile shopping specialist Wish has completed a new round of fundraising valuing it at $11.2bn.

The new funding, led by private equity house General Atlantic, will be used for marketing and working capital to bring new retail partners on board in Europe and North America and improve logistics.

Wish originally established itself by providing a direct-to-consumer marketplace typically used by Chinese manufacturers, and customers have proved willing to tolerate lengthy delivery times in return for value for money.

Wish, which generates sales of approximately $2bn a year, is adding to is model by creating a network of collection points with independent retailers through its new Local initiative. The Local provides customers with greater flexibility and faster shipping, while shop owners can boost sales as a result of higher footfall.

Subscription content

Please sign in now if you have a subscription

Retail Week

Register to continue reading

Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • 3 free articles a month on Retail-Week.com
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.