Wish is a platform that nearly exclusively sells goods produced in China for rock-bottom prices.
The company’s CEO told Forbes in March that he rebuffed possible acquisition interest from Amazon in 2016.
I shopped on Wish to see how it differs from its rivals.
For those used to purchasing on large online shopping websites, Wish can be a bit of an adjustment.
None of the merchandise looks particularly attractive, and the prices are rock-bottom. Some items are literally free and only require paying for shipping. It’s like an online dollar store for buying things from online merchants in places like China.
Started in 2010 by CEO Peter Szulczewski, a former Google engineer, the site has grown to pull in $1.9 billion in sales, as of 2018, and was valued at $8.7 billion in its latest round of funding, according to Forbes.
Competitors have taken note of that success. Szulczewski told Forbes earlier this month that he rebuffed possible acquisition interest from Amazon in 2016. An Amazon spokesperson told the magazine that the company does not comment on speculation.
There are, of course, problems with this model. Wish doesn’t sell anything directly, and some third-party merchants will end up switching out products with a cheaper …read more
Source:: Businessinsider – Technology