Wish files for IPO

Discount shopping platform Wish is preparing to launch an Initial Public Offering (IPO).

Reuters reported that the US company, which sells Chinese goods at between 60 and 90 per cent of their recommended retail price, has filed a draft registration statement with the Securities and Exchange Commission (SEC).

However, at this stage it is still unclear whether it plans to pursue a traditional public offering or a direct listing - and what the prices and valuations will be.

The platform was founded by two former Google and Yahoo executives and was most recently valued at $11.2 billion.

Wish now has a global user base of over 100 million, operates in over 100 countries and sells more than three million products every day.

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