Given the global shift towards e-commerce in 2020, Wish could be enjoying another year of growth, easily pushing its annual revenue run rate into the $2 billion range. eBay has a price/sales ratio of around 4x, but with Wish growing much more quickly, it can likely surpass that figure.
But this week is still managing a good grip of IPO news, with Wish announcing yesterday that it has filed privately to go public, and Bumble talking to bankers about a possible 2021 debut at a valuation of $6 to $8 billion, according to Bloomberg.
Wish is a well-funded e-commerce company that has raised around $1. 4 billion, according to Crunchbase data.
According to Forbes, Wish generated $1. 9 billion in 2019, double what it brought in the year before.
Wish, the same article notes, takes a cut of purchases, so the number we’re discussing is not gross merchandise value, but net revenue.