At $8.5B, Shopping App Wish Worth More than Macy's, JC Penny Combined(forbes.com)
forbes.com
At $8.5B, Shopping App Wish Worth More than Macy's, JC Penny Combined
https://www.forbes.com/sites/parmyolson/2017/09/20/wish-8-billion-funding-amazon/#7a6e6e0e61e1
2 comments
Not profitable yet and spends the lion’s share of its 15% take from sales on advertising. Rapid growth the key but given the prices mentioned I am not surprised that they have such growth. The real question is repeat customers or customer satisfaction with the Chinese made goods. Other apps have had rapid growth selling Chinese goods but attrition rates were staggering.
Spends $100 million/year on Facebook ads...