ContextLogic Inc. (WISH) is a mobile e-commerce company that operates Wish, an e-commerce platform that connects users to merchants. The company faces a challenging economic landscape which is affecting its topline growth.
For the fiscal second quarter (ended June 30), WISH’s revenues were $78 million, registering a decrease of 42% year-over-year. Over the past three years, the company’s revenues have declined at a 33% CAGR. Acknowledging the challenges, WISH’s CEO, Joe Yan, stated that the company is taking decisive action to lower costs and improve efficiency.
