Articles from Wish

Transaction Enables Company to Preserve ~$2.7 Billion of Net Operating Losses (NOLs)

Transaction Closing Expected to Occur Later Today, April 19, 2024

SAN FRANCISCO, April 17, 2024 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQWISH) (“ContextLogic” or the “Company”) today reminds stockholders to vote “FOR” the proposed transaction with Qoo10 Pte. Ltd. (“Qoo10”) at the upcoming Special Meeting of Stockholders (the “Special Meeting”). The Special Meeting is scheduled to be held at 11:30 a.m. Pacific Time on April 18, 2024. Stockholders of record as of March 7, 2024, are entitled to vote.

Issues Open Letter to Stockholders; Urges ALL Stockholders to Protect the Value of their Investment by Voting “FOR” the Transaction TODAY

Approximately 97% of Shares Voted have been “FOR” the Transaction;

Today is Last Day for ContextLogic Stockholders to Vote at Upcoming Special Meeting

Stockholders Urged to Vote FOR the Value-Maximizing Transaction with Qoo10

 Proposed Transaction Ensures Preservation of $2.7 billion in NOLsOutlines Support for Transaction from ContextLogic Investors and Proxy Advisory FirmsSpecial Meeting of Stockholders is Friday, April 12, 2024, at 10:00 A.M. Pacific Time

Upon Closing, Rishi Bajaj to Become Chief Executive Officer of ContextLogic and Four New Independent Directors to Join ContextLogic Board

ISS, Glass Lewis and Egan-Jones Endorse Proposed Transaction

Board Believes Transaction Will Reduce Substantially all of the Cash Burn, Monetize Operating Assets at Highest Value Possible and Preserve Significant Value for Stockholders

Board Unanimously Recommends Stockholders Vote “FOR” Pending Transaction with Qoo10 and Ensure the Preservation of $2.7 Billion of NOLs

SAN FRANCISCO, March 14, 2024 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, today announced it has signed satirical YouTubers Zac Alsop and Grandpa Ray to be the face of its fashion category in a campaign that will run from March through to May 2024.

SAN FRANCISCO, March 04, 2024 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (Nasdaq: WISH) (“ContextLogic,” the “Company,” “we” or “our”), one of the largest mobile ecommerce platforms, today reported its financial results for the quarter and fiscal year ended December 31, 2023.

SAN FRANCISCO, Feb. 27, 2024 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQWISH) (“ContextLogic” or the “Company”) today announced it will report its fourth quarter and full year 2023 financial results after the close of market on Monday, March 4, 2024. In light of the pending transaction that was announced on February 12, 2024, the Company will not host a conference call or live webcast to discuss these financial results.

Purchase Price Represents Approximately $6.50 Per Share, a 44% Premium

SAN FRANCISCO, Nov. 15, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, this week announced the launch of WishPost Smart Parcel - a Logistics as a Service (Laas) product that is designed to provide a seamless and efficient shipping solution to non-Wish merchants, ensuring rapid, reliable, and cost-effective deliveries.

SAN FRANCISCO, Nov. 07, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (Nasdaq: WISH), one of the largest mobile ecommerce platforms, today reported its financial results for the quarter and nine months ended September 30, 2023. Wish also announced today that its Board of Directors has initiated a process to explore a range of strategic alternatives to maximize shareholder value.

SAN FRANCISCO, Nov. 06, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQWISH), one of the world’s largest mobile e-commerce platforms, today announced, as required by Nasdaq Listing Rule 5635(c)(4), the grant of inducement awards under Wish’s 2022 New Employee Equity Incentive Plan (the “Inducement Plan”) to 2 new employees, effective November 2, 2023.

SAN FRANCISCO, Nov. 03, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, is proud to announce the release of its inaugural ‘Anti-Counterfeiting Report’. The publication of the report represents a significant step in Wish’s ongoing commitment to combating the listing and sale of counterfeit goods on its platform.

SAN FRANCISCO, Nov. 02, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, this week announced an agreement with French ecommerce SaaS solution provider, Octopia, which will open up a gateway for hundreds of Europe-based merchants to start selling on its platform. As part of the deal, which is set to go live in Q4 2023, Wish will only allow merchants with merchant ratings of 4, 5 or above as the marketplace continues on its journey to improve the range of listings on its platform.

New multi-channel ad campaign to land this week

Conference Call to be Webcast Live at 5 PM ET / 2 PM PT

SAN FRANCISCO, Sept. 26, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, today announced a partnership agreement with North American parcel pick-up and drop-off counter Network, PUDO Inc. (CSE: PDO; OTCQB: PDPTF). The partnership will allow Wish consumers to click and collect parcels from more than 1,200 PUDOpoint counters across the U.S. and Canada.

Three quarters of sexually active Americans already own a sexual wellness product, while two thirds have expressed a desire to try one in future

SAN FRANCISCO, Aug. 03, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (Nasdaq: WISH), one of the largest mobile ecommerce platforms, today reported its financial results for the quarter and six months ended June 30, 2023.

SAN FRANCISCO, July 28, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQWISH), one of the world’s largest mobile e-commerce platforms, today announced, as required by Nasdaq Listing Rule 5635(c)(4), the grant of inducement awards under Wish’s 2022 New Employee Equity Incentive Plan (the “Inducement Plan”) to 3 new employees, effective July 27, 2023.

SAN FRANCISCO, July 27, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, today announced it has signed a partnership agreement with Singapore Post Limited (SingPost) that it expects will significantly improve the shipping experience for its Australian consumers.

Conference Call to be Webcast Live at 5 PM ET / 2 PM PT

SAN FRANCISCO, July 06, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, today announced a strategic partnership with one of South Korea’s leading logistics providers, Rincos. The partnership is designed to streamline the process for Korean merchants looking to ship goods overseas through the Wish platform.

The two-week-long shopping event offers discounts of up to 40% off

Shopping Secrets are Revealed as the New and Improved Wish Returns to France with a Bang

SAN FRANCISCO, May 12, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQWISH), one of the world’s largest mobile e-commerce platforms, today announced, as required by Nasdaq Listing Rule 5635(c)(4), the grant of inducement awards under Wish’s 2022 New Employee Equity Incentive Plan (the “Inducement Plan”) to 8 new employees, effective May 10, 2023.

SAN FRANCISCO, May 11, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, today announced that its management team plans to participate in the 18th Annual Needham Virtual Technology & Media Conference on Thursday, May 18, 2023.

SAN FRANCISCO, May 04, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (Nasdaq: WISH), one of the largest mobile ecommerce platforms, today reported its financial results for the quarter ended March 31, 2023.

SAN FRANCISCO, April 20, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish or the “Company”) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, announced today that its Board of Directors has approved a share repurchase program with authorization to repurchase up to $50 million in shares of its Class A common stock.

Conference Call to be Webcast Live at 5 PM ET / 2 PM PT

SAN FRANCISCO, April 11, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish or the “Company”) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, announced that today, April 11, 2023, effective at 1:01 pm Pacific Time (4:01 pm Eastern Time), the Company will effectuate a 1-for-30 reverse split of its Class A common stock (“common stock”). The common stock will begin trading on a split-adjusted basis when the market opens on April 12, 2023 under its current trading symbol “WISH”. The CUSIP number for the common stock following the reverse stock split will be 21077C 305. The reverse stock split is intended to enable the Company to regain compliance with the minimum bid price requirement for continued listing on The Nasdaq Global Select Market. The reverse stock split was previously approved by Wish stockholders at the Annual Meeting of Stockholders held on April 10, 2023, with the final ratio determined by the Company’s Board of Directors.

Mega deals of up to 40% off available throughout the week-long shopping extravaganza

The global sales event will feature mind-blowing deals of up to 40% off on top categories, along with free shipping for all eligible orders

Agreement with leading B2C logistics service provider gives Wish U.S. merchants expanded options for faster and more efficient order fulfillment

Ecommerce giant to relist following decision by French regulator to lift delisting measure

SAN FRANCISCO, March 13, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish or the “Company”) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, today issued the following statement in response to the recent collapse of Silicon Valley Bank (SVB).

Partnership with premier ecommerce management system connects Wish shoppers with more than 18,000 new European merchants

SAN FRANCISCO, March 06, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, today announced that its management team plans to participate in the Loop Capital Markets 2023 Virtual Investor Conference on Monday, March 13, 2023.

SAN FRANCISCO, Feb. 27, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, today announced that its management team plans to participate in the following investor conferences in March:

SAN FRANCISCO, Feb. 23, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (Nasdaq: WISH), one of the largest mobile ecommerce platforms, today reported its financial results for the quarter and fiscal year ended December 31, 2022.

SAN FRANCISCO, Feb. 23, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, today announced that Interim CEO Joe Yan has been appointed the permanent Chief Executive Officer of Wish, effective February 21, 2023. Mr. Yan, who has been serving as Interim CEO since September 2022, has also been appointed to the Company’s Board of Directors.

SAN FRANCISCO, Feb. 17, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQWISH), one of the world’s largest mobile e-commerce platforms, today announced, as required by Nasdaq Listing Rule 5635(c)(4), the grant of inducement awards under Wish’s 2022 New Employee Equity Incentive Plan (the “Inducement Plan”) to 23 new employees, effective February 15, 2023.

$2.99 flat rate fee to be applied to all eligible orders over $10, at no additional cost to merchants

Conference Call to be Webcast Live at 5 PM ET / 2 PM PT

SAN FRANCISCO, Jan. 17, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a/ Wish) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, today announced its partnership with two Auctane brands: ShipStation, the world’s leading cloud-based ecommerce shipping solution, and ShippingEasy, the easy-to-use, cloud-based shipping, tracking, and customer marketing platform for ecommerce sellers. As part of the agreement, Wish merchants in the US, Canada, UK, Australia and New Zealand will gain access to both ShipStation and ShippingEasy fulfillment software. This investment is part of Wish’s continued commitment to further improve its shipping logistics and Time-to-Door (TTD).

SAN FRANCISCO, Jan. 03, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, today announced that its management team plans to participate in the 25th Annual Needham Virtual Growth Conference on Thursday, January 12, 2023.

ContextLogic Inc. (d/b/a Wish) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, today announced its renewed focus on improving the customer experience, deepening merchant relationships and achieving operational excellence at its 2022 Global Merchant Summit.

ContextLogic Inc. (d/b/a Wish) (NASDAQWISH) today released findings from its global survey on holiday gifting and found that, while a majority of people have received terrible gifts in the past, most feel they are not guilty of bad gift giving themselves. The global survey explored consumer insights on giving and receiving gifts, along with consumers’ reactions when presented with a bad one.

ContextLogic Inc. (d/b/a Wish) (Nasdaq: WISH), one of the largest mobile ecommerce platforms, today reported its financial results for the quarter ended September 30, 2022.

ContextLogic Inc. (d/b/a Wish) (NASDAQWISH), one of the world’s largest mobile e-commerce platforms, today announced, as required by Nasdaq Listing Rule 5635(c)(4), the grant of inducement awards under Wish’s 2022 New Employee Equity Incentive Plan (the “Inducement Plan”) to 42 new employees, effective November 2, 2022.

ContextLogic Inc. (d/b/a “Wish”) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, today announced a new partnership with Productsup, a P2C software company. The Wish global online marketplace has selected Productsup’s product-to-consumer (P2C) platform, a leading commerce solution, to simplify how merchants manage their product data on Wish.

ContextLogic Inc. (d/b/a Wish) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, today announced that its management team plans to participate in the following investor conferences in the fourth quarter of 2022:

ContextLogic Inc. (d/b/a Wish) (NASDAQWISH) today announced strategic partnerships with two leading Latin American logistics providers – Moovin in Costa Rica and Servicios Postales del Perú (Serpost) in Peru. The partnerships are set to reduce delivery times by more than 15 days, making Wish one of the fastest cross-border ecommerce platforms in both markets.

ContextLogic Inc. (d/b/a/ Wish) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, today announced the launch of the second phase of its global integrated brand marketing, with the new ‘Forced Smiles’ creative ad campaign to support its rebrand.

ContextLogic Inc. (d/b/a Wish) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, today announced it will report its third quarter 2022 financial results after the market close on Wednesday, November 9, 2022. Wish management will host a live conference call and webcast for shareholders, analysts and portfolio managers to discuss the company’s third quarter results that afternoon at 5:00 PM ET / 2:00 PM PT.

EverC, a leading provider in AI-driven merchant and marketplace risk intelligence and insights for ecommerce and payment providers, and ContextLogic Inc. (d/b/a “Wish”) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, today announced they have entered into an agreement to fight product counterfeits. The Wish global online marketplace has selected EverC’s MarketView, a marketplace risk management solution that can detect dangerous, illicit, and counterfeit products in as quickly as seconds using its AI technology.

ContextLogic Inc. (d/b/a “Wish”) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, today announced a partnership with eDesk, the ecommerce customer support platform, aimed to empower Wish merchants with more resources and tools to provide excellent customer support experiences.

ContextLogic Inc. (d/b/a Wish) (NASDAQWISH), one of the world’s largest mobile e-commerce platforms, today announced, as required by Nasdaq Listing Rule 5635(c)(4), the grant of inducement awards under Wish’s 2022 New Employee Equity Incentive Plan (the “Inducement Plan”) to its Interim CEO, Jun (Joe) Yan, on September 27, 2022.

​ContextLogic Inc. (d/b/a Wish or the “Company”) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, announced today that the company will continue its Withhold to Cover process on the settlement of restricted share units (RSUs) and option exercises. This treatment reduces the otherwise additional dilutive effect of RSU settlements and options exercises through the Company’s use of cash to cover employees withholding tax requirements. The Company made this switch in the second quarter of 2022 to stem the overall dilution otherwise caused by the previous treatment which sold a portion of shares in the open market to cover employees’ taxes.

ContextLogic Inc. (d/b/a “Wish”) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, today announced that Joe Yan, Operating Partner at GGV Capital, has been appointed interim CEO, and that Vijay Talwar has departed the Company as CEO and from the Board of Directors, effective immediately. He will be available to Yan and the Board as needed to ensure a smooth transition. The Board has engaged a leading national executive search firm to identify a permanent CEO.

ContextLogic Inc. (d/b/a/ Wish) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, today announced the launch of its global integrated brand campaign, ‘You Wish.’ The multi-channel, multi-market campaign brings to life the experience of shopping on Wish - where the emphasis is on discovery, fun and bargains.

ContextLogic Inc. (d/b/a Wish) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, this week announced the first phase of its rebrand, which includes a new logo, design and an improved app experience.

ContextLogic Inc. (d/b/a Wish) (Nasdaq: WISH), one of the largest mobile ecommerce platforms, today reported its financial results for the quarter ended June 30, 2022.

ContextLogic Inc. (d/b/a Wish) (NASDAQWISH), one of the world’s largest mobile e-commerce platforms, today announced, as required by Nasdaq Listing Rule 5635(c)(4), the grant of an inducement award under Wish’s 2022 New Employee Equity Incentive Plan (the “Inducement Plan”) to its new VP, Product Design, Stacy All, on June 13, 2022.

ContextLogic Inc. (d/b/a Wish) (NASDAQWISH), one of the world’s largest mobile e-commerce platforms, today announced, as required by Nasdaq Listing Rule 5635(c)(4), the grant of an inducement award under Wish’s 2022 New Employee Equity Incentive Plan (the “Inducement Plan”) to its new VP, Engineering – Buying Experience, Raju Kolluru, on May 10, 2022.

ContextLogic Inc. (d/b/a Wish) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, today announced it will report its first quarter 2022 financial results after the market close on Thursday, May 5, 2022. Wish management will host a live conference call and webcast for shareholders, analysts and portfolio managers to discuss the fourth quarter results that afternoon at 5:45 PM ET/ 2:45 PM PT.

ContextLogic Inc. (d/b/a Wish) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, today announced it will report its fourth quarter and fiscal year 2021 financial results after the market close on Tuesday, March 1, 2022. Wish management will host a live conference call and webcast for shareholders, analysts and portfolio managers to discuss the fourth quarter results that afternoon at 5 PM ET/ 2 PM PT.

ContextLogic Inc. (d/b/a Wish) (NASDAQWISH), one of the world’s largest mobile ecommerce platforms, today announced the roll out of Wish Clips - a new shoppable video feature that is designed to greatly enhance the customer experience and simplify the path to purchase.