ContextLogic files to go public, had $1.8 billion in revenue through September

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ContextLogic Inc., a San Francisco-based e-commerce platform company, has filed to go public. The company has not yet determined the number of shares it is offering or the expected pricing of the initial public offering. In September, The Wall Street Journal reported that Wish, an online marketplace connecting manufacturers in China with buyers around the world which incorporated at ContextLogic, was valued at around $11.2 billion in July 2019 after a Series H round of funding. ContextLogic has applied for its stock to list on the Nasdaq under the ticker symbol “WISH.” Goldman Sachs, J.P. Morgan and BofA Securities are the lead underwriters. For the nine months ended Sept. 30, the company recorded a net loss of $176 million on revenue of $1.75 billion, after a loss of $12 million on revenue of $1.33 billion in the same period a year ago. The company is looking to go public at a time that the Renaissance IPO ETF has run up 83.6% year to date while the S&P 500 has gained 10.9%.
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