From $10 Billion To Nothing: How Wish.com Lost Everything
Logically Answered
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Tech & AI Stories My name is Hari and this channel is centered around explaining the economics of tech and social media. These sectors are generally analyzed through the lenses of finance and economics to determine which industries and companies will thrive and which will fall. In addition to this analysis, my content is often focused on the stories of various famous entrepreneurs such as Elon Musk, Steve Jobs, and Jeff Bezos. I also cover the rise and fall of several interesting companies and services that we come across on a day-to-day basis. There have been so many companies that have risen to fame and then died out in a single generation. The most interesting companies are the ones that were able to save themselves and avoid bankruptcy. Feel free to subscribe if you would like to see any of these topics Logically Answered. Also special thanks to my editors flick5832, imrikon, and vvsnet (Discord)!
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Go to https://ground.news/logically for a better way to stay informed. Subscribe for 40% off unlimited access to worldwide coverage! In the 2010s, Wish ads were everywhere. A $1 cat mask, $10 drones, even “USB-powered pregnancy tests”—the weirdness was endless. But behind the viral ads was a company chasing growth at all costs. Wish was once one of the most downloaded shopping apps in the world, with over 400 million users and billions in revenue. They turned down a $10 billion buyout offer from both Amazon and Alibaba, believing they could become the next Walmart. Instead, they collapsed. Wish’s story is one of massive ambition, ad-driven growth, and some truly questionable business practices. They had -100% margins, no customer support, and even ran fake storefronts to test how long users would tolerate being scammed. At one point, they were the biggest ad buyer on Facebook—yet couldn’t turn a profit even during the online shopping boom of 2020. By 2024, Wish’s parent company sold it for just $173 million. A fall from grace so steep, it’s hard to believe it actually happened. This is the story of how Wish went from the dollar store of the internet… to a cautionary tale in Silicon Valley history. Earn Cash Back On Stocks: Up To $5,000 Per Year https://www.silomarkets.com/logic Free Weekly Newsletter With Insiders: https://logicallyanswered.co/ Socials: https://www.instagram.com/hariharan.jayakumar/ Discord Community: https://discord.gg/SJUNWNt Timestamps: 0:00 - The State Of Wish 0:40 - Growth Over Everything 5:40 - The Ad Trap 12:44 - $10B To $173M Resources: https://pastebin.com/Nxrxvrmf Disclaimer: This video is not a solicitation or personal financial advice. All investing involves risk. Please do your own research. https://www.silomarkets.com/disclosures Disclosure: This video is sponsored by Ground News. Some of the links in this description may be affiliate links, which means I may earn a small commission at no additional cost to you.
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