In an interview with Forbes, Wish‘s founder claimed that in 2018, Wish is the most downloaded shopping app in the world, and now it is the third biggest online shopping platform in the US (by sales). Approximately 90 million users worldwide use Wish at least once a month.
Wish charges 15% of the payment from the customer, and the operating income has doubled to $1.9 billion. Peter said that they are ready to go IPO in one to two years.
In addition, Forbes mentioned that Wish has hundreds of negative reviews on reviews sites such as Trustpilot and HighYa.
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Some customers are not satisfied with the: customer service, late response, the orders are not placed, full of inferior products and so on.
According to a report in Forbes, there are about 60 rules governing compliance operations in order to regulate the products of the platform. For example, if Wish finds that a merchant has a counterfeit product in its list, or if there is a forged identification code in the shipper, these merchants will face a “fine”.
Peter Szulczewski, CEO of e-commerce app Wish, raised $1 billion in two years
On the other hand, if the product is evaluated well, the payment speed may be faster, the search ranking may be higher, and the merchant can get the profit faster.
Featured Image: https://www.forbes.com/sites/parmyolson/2019/03/13/meet-the-billionaire-who-defied-amazon-and-built-wish-the-worlds-most-downloaded-e-commerce-app/#118bed2370f5