The last big IPO of the year happens today

December 16, 2020

Wish will start trading on NASDAQ

Your Wish comes true today, as the San Francisco-based company will start trading today on NASDAQ under the WISH ticker.

Wish founders Piotr Szulczewski and Danny Zhang expect to raise at least $1.1 billion at a market capitalization of more than $14 billion after selling 46 million shares at $24. The San Francisco-based company had previously announced a price range of $22 to $24.

With 100 million monthly active users in more than 100 countries, Wish says it is the most downloaded shopping app selling about 1.8 million items daily. However, it’s not only the number of users that is important when talking about Wish, but also the financials. In the first three quarters of 2020, the company had revenues of $1.75 billion, exceeding last year’s $1.33 billion.

Like DoorDash and Airbnb, which became publicly traded companies last week, Wish will have as main underwriters Goldman Sachs, JP Morgan, and Bank of America Securities. Wish is also going public at a time when shoppers are making an accelerated shift to e-commerce amid the Coronavirus pandemic.

Here’s your chance to trade one more IPO with us this year. Deposit now!

Sources: marketwatch.com, sec.gov, seekingalpha.com

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