Wish Sells to Qoo10 for $173M: Aiming for Revival

ContextLogic to Sell Operating Assets and Liabilities to Qoo10 in $173M Cash Deal

ContextLogic Inc. (NASDAQ: WISH), the company behind the popular Wish e-commerce platform, has announced that it will sell most of its operating assets and liabilities, including the Wish platform, to Asian e-commerce giant Qoo10 for approximately $173M in cash. This move, expected to be finalized in the second quarter of 2024, has been approved by ContextLogic’s Board of Directors and offers a 44% premium over the company’s closing stock price on February 9, 2024.