Monday, ContextLogic Inc. (WISH) announced that it has agreed to sell all of its operating assets and liabilities, which include its popular Wish e-commerce platform, to Qoo10 for a cash payment of approximately $173 million.
The deal, which is anticipated to be finalized in the second quarter of 2024, represents a 44 percent premium over the company's closing stock price on February 9, 2024, as the purchase price represents around $6.50 per share.
Following the finalization of the deal, the Wish brand and platform will be integrated into the Qoo10 family of businesses. This integration is expected to create new cross-border e-commerce opportunities for Wish merchants, while Wish users will enjoy a wider range of products at competitive prices.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.