Maybe you have never heard about this Startup but most of the E-commerce players have, because this brand is the leading mobile commerce platform in Europe
Wish characterized by it low profile, have been founded in 2011 by Piotr Szulczewski and had already refused one huge offer proposed by the giant Amazon. What was the offer? 10,000,000,000$ in cash. You might think that the owners are crazy but in reality the company is promise to a brilliant future.
Wish already raised 600 millions $ in 5 rounds from 30 investors and is valued at 3 billions by it’s investors.
Why Amazon would propose so much money? It is in their strategy to “eliminate” possible competitors; they buy all the companies that might cause some trouble in the future.
CEO of Wish, Piotr Szulczewski, believe that his startup can grow to 100 billions grow sales, then the company will worth more than 10 billions in that case it justify the refusal of Amazon offer.
Wish work with complex algorithms that actually match the consumer with the product he likes. For instance if a merchant have 100 red shoes to sell, Wish will point out red shoes to people that already have red shoes in their wish list.
By 2019 it is predicted that worldwide there will be 5,07 billions mobile users this can make you think on how many users might be interested by purchasing items via Wish application. Wish it’s like having Alibaba on your smartphone, with very low prices.
Wish already have more than 100 millions active users and 100,000 merchant worldwide.
For more: http://techcrunch.com/2015/06/03/sources-dst-global-led-mobile-shopping-app-wishs-500m-round/#.qwdmrit:rsAp
http://www.businessinsider.com/wish-rumored-to-reject-acquisition-offers-from-amazon-and-alibaba-2015-11
I hope that they achieve a big success! Amazon website is one of the worst I have ever seen, the suggestions are ridiculous, it is really hard to find something. However, I make my online shopping there because there is lack of serious competition.