Wish, the Online Dollar Store, Is Losing Momentum Before IPO
- Growth slowed despite pandemic-fueled surge in web shopping
- Rising advertising and shipping costs threaten profitablity
In a filing last week, the upstart web store best known for cheap trinkets shipped direct from China said it plans to sell 46 million shares for $22 to $24 each.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
A global pandemic should theoretically be perfect timing for an e-commerce company to go public because homebound shoppers have fueled a record-breaking surge in online sales.
At least that’s what Wish.com is counting on.