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OAKLAND, Calif., May 10, 2024 (GLOBE NEWSWIRE) -- ContextLogic Inc. (NASDAQ:WISH) today announced that its Class A common stock will begin trading on NASDAQ under the ticker symbol "LOGC" prior to market open on May 13, 2024. This will replace the company's current ticker symbol "WISH", which has been used since its initial public offering in December 2020. The new ticker symbol comes following the company's sale of the Wish e-commerce platform to Qube Network Pte. Ltd., a subsidiary of Qoo10 Pte. Ltd., which was completed on April 19, 2024. Because the company is not changing its name, no action by the company's shareholders is required with respect to the ticker symbol change. The compa

OAKLAND, Calif., May 08, 2024 (GLOBE NEWSWIRE) -- ContextLogic Inc. (NASDAQ:WISH) ("ContextLogic," the "Company," "we" or "our") today reported its financial results for the quarter ended March 31, 2024. Introductory Note  Prior to the April 19, 2024 closing of the Asset Sale described below, ContextLogic owned and operated the Wish platform, a mobile ecommerce platform.  As a result of the Asset Sale, ContextLogic no longer owns the Wish platform or any of the related operating assets.  Since the Asset Sale was not completed until after the end of the first quarter, the financial results described below do not reflect the impact of the Asset Sale or our post-closing operations.  First-

SAN FRANCISCO, April 24, 2024 (GLOBE NEWSWIRE) -- ContextLogic Inc. (NASDAQ:WISH) today announced it will report its first quarter 2024 financial results after the close of market on Wednesday, May 8, 2024. ContextLogic's management team will host a live conference call and webcast for shareholders, analysts and portfolio managers to discuss the company's first quarter results that afternoon at 5:00 PM ET / 2:00 PM PT. Information about the company's financial results, including a link to the live webcast and replay will be made available on the company's investor relations website at https://ir.contextlogicinc.com. The live conference call may be accessed by registering using this onli

Transaction Enables Company to Preserve ~$2.7 Billion of Net Operating Losses (NOLs) Rishi Bajaj Appointed Chief Executive Officer; Four New Independent Directors Join Board of Directors SAN FRANCISCO, April 19, 2024 (GLOBE NEWSWIRE) -- ContextLogic Inc. (NASDAQ:WISH) ("ContextLogic" or the "Company"), today announced that it has completed its previously announced transaction with Qoo10 Pte. Ltd. ("Qoo10"). As disclosed, ContextLogic entered into an agreement to sell substantially all of the Company's operating assets and liabilities, principally comprising its Wish ecommerce platform, to Qoo10, for approximately $161 million in cash, after purchase price adjustments. "We would like to

SAN FRANCISCO, April 19, 2024 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ:WISH) ("ContextLogic" or the "Company") announced its stockholders have approved the Asset Sale transaction with Qoo10 Pte. Ltd. ("Qoo10") at yesterday's Special Meeting of Stockholders (the "Special Meeting"). The transaction is expected to close later today, April 19, 2024. Rishi Bajaj, who will become Chief Executive Officer and Chairman of the Board at the closing of the Asset Sale, stated: "On behalf of the Board of Directors, we would like to thank our stockholders for their support of the Asset Sale. Having achieved this important milestone, we look forward to closing the transaction later toda

SAN FRANCISCO, April 17, 2024 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ:WISH) ("ContextLogic" or the "Company") today reminds stockholders to vote "FOR" the proposed transaction with Qoo10 Pte. Ltd. ("Qoo10") at the upcoming Special Meeting of Stockholders (the "Special Meeting"). The Special Meeting is scheduled to be held at 11:30 a.m. Pacific Time on April 18, 2024. Stockholders of record as of March 7, 2024, are entitled to vote. EVERY VOTE IS IMPORTANT; NO MATTER HOW MANY SHARES YOU OWN Regardless of the number of shares you own, your vote on the proposal to approve the Asset Sale is crucial to protect your investment. The Qoo10 transaction represents the best path

SAN FRANCISCO, April 15, 2024 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ:WISH) ("ContextLogic" or the "Company") today mailed a letter to stockholders in connection with its upcoming Special Meeting of Stockholders (the "Special Meeting") urging stockholders to vote "FOR" the proposed transaction with Qoo10 Pte. Ltd. ("Qoo10"). The Special Meeting is scheduled to be held at 11:30 a.m. Pacific Time on April 18, 2024. Stockholders of record as of March 7, 2024, are entitled to vote. The full text of the letter mailed to stockholders follows: Dear Fellow Stockholder, We have set a new date and time of Thursday, April 18, 2024, at 11:30 a.m. Pacific Time, to hold our S

Approximately 97% of Shares Voted have been "FOR" the Transaction; Approximately 500,000 Additional Shares Needed to Vote "FOR" to Complete Transaction Urges ALL Stockholders to Protect the Value of their Investment by Voting "FOR" the Transaction TODAY SAN FRANCISCO, April 12, 2024 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ:WISH) ("ContextLogic" or the "Company") today announced its Special Meeting of Stockholders (the "Special Meeting") being held today will convene and then adjourn without conducting any business. The Special Meeting will reconvene at 11:30 a.m. Pacific Time on April 18, 2024. The Special Meeting was being held in connection with the Company's

Today is Last Day for ContextLogic Stockholders to Vote at Upcoming Special Meeting Critical that Stockholders Approve Transaction to Protect the Value of their Investment Not Voting is the Same as Voting Against the Transaction and Could Result in Severe Value Destruction SAN FRANCISCO, April 11, 2024 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ:WISH) ("ContextLogic" or the "Company") today urged stockholders to vote immediately "FOR" the proposed Asset Sale transaction with Qoo10 Pte. Ltd. ("Qoo10") in connection with the special meeting of stockholders (the "Special Meeting") being held on Friday, April 12, 2024, at 10:00 a.m. Pacific Time. VOTING TODAY "FOR" THE TRANS

Stockholders Urged to Vote FOR the Value-Maximizing Transaction with Qoo10 Electronic Voting Deadline is 11:59 P.M. Eastern Time on Thursday, April 11, 2024 SAN FRANCISCO, April 09, 2024 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ:WISH) ("ContextLogic" or the "Company") today reminded stockholders to vote at the upcoming special meeting of stockholders (the "Special Meeting") on Friday, April 12, 2024, at 10:00 a.m. Pacific Time. The ContextLogic Board of Directors (the "Board") recommends that stockholders vote "FOR" the proposed Asset Sale transaction with Qoo10 Pte. Ltd. ("Qoo10"). Upon closing of the transaction, ContextLogic will continue as a publicly traded company

Upon Closing, Rishi Bajaj to Become Chief Executive Officer of ContextLogic and Four New Independent Directors to Join ContextLogic Board Six Existing Directors to Step Down from Board Upon Completion of the Qoo10 Transaction Reconstituted Board and Management Team to Focus on Maximizing Value of ~$2.7 Billion of NOLs SAN FRANCISCO, April 02, 2024 (GLOBE NEWSWIRE) --  ContextLogic Inc. (d/b/a Wish) (NASDAQ:WISH) ("ContextLogic" or the "Company") today announced that it will reconstitute its Board of Directors and management team upon completion of its pending transaction under which it will sell substantially all of its operating assets and liabilities, principally comprising its

SAN FRANCISCO, Oct. 11, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a/ Wish) (NASDAQ:WISH), one of the world's largest mobile ecommerce platforms, this week will begin rolling out a new brand campaign to raise awareness of Wish as the ultimate destination for holiday gifting. The multi-channel, multi-market campaign showcases a captivating array of quirky gadgets, entertaining games, stylish fashion items, and delightful home decor products, all available on Wish to add a touch of joy to your life. From this week, the ads will begin appearing across digital platforms, streaming services and radio in Wish's key markets, to tie in with the peak holiday planning and shopping frenzy. The

SAN FRANCISCO, Feb. 23, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ:WISH), one of the world's largest mobile ecommerce platforms, today announced that Interim CEO Joe Yan has been appointed the permanent Chief Executive Officer of Wish, effective February 21, 2023. Mr. Yan, who has been serving as Interim CEO since September 2022, has also been appointed to the Company's Board of Directors. "Joe has a deep understanding of ecommerce and brings with him almost twenty years of strategic planning, operational excellence, innovation, and cultivating teams that deliver results," said Tanzeen Syed, Chairman of the Wish Board of Directors. "As Interim CEO, he has demonstrated

ContextLogic Inc. (d/b/a "Wish") (NASDAQ:WISH), one of the world's largest mobile ecommerce platforms, today announced that Joe Yan, Operating Partner at GGV Capital, has been appointed interim CEO, and that Vijay Talwar has departed the Company as CEO and from the Board of Directors, effective immediately. He will be available to Yan and the Board as needed to ensure a smooth transition. The Board has engaged a leading national executive search firm to identify a permanent CEO. Yan brings almost two decades of experience across ecommerce strategy and operation, product management, sales and marketing and business development. His prior roles include Head of Greater China at Stripe, Head o

SAN FRANCISCO, June 30, 2022 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ:WISH), one of the world's largest mobile ecommerce platforms, today announced the launch of ‘Inside Wish' - a new vlog series featuring Wish CEO, Vijay Talwar, providing one to two minute updates on the progress of the company's turnaround. New video episodes will be posted every few weeks across Wish's YouTube, LinkedIn and Twitter channels. Throughout the series, Vijay will shine a light on some of the changes underway at Wish - from the enhancements to the merchant and customer experience, through to the shift in company culture to focus on the consumer. The series will also include personal anecdot

SAN FRANCISCO, June 24, 2022 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ:WISH), one of the world's largest mobile ecommerce platforms, today announced the company expects to join the broad-market Russell 3000® Index after the conclusion of the 2022 Russell indexes annual reconstitution, effective after the market opens on June 27, 2022, according to a preliminary list of additions posted June 3, 2022. Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 6, 2022, ranking them by total market capitalization. Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell

Former Foot Locker EMEA Chief to Drive Wish's Turnaround Plan ContextLogic Inc. (d/b/a Wish) (NASDAQ:WISH), one of the world's largest mobile ecommerce platforms, today announced the appointment of Vijay Talwar as Chief Executive Officer and a member of the Company's Board of Directors, effective February 1, 2022. Mr. Talwar succeeds Wish's Founder and former CEO, Piotr Szulczewski, who will continue to serve the Company as a member of the Board. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220131005789/en/Vijay Talwar, New CEO of Wish [Context Logic Inc.] (Photo: Business Wire) Mr. Talwar is an experienced retail, ecommerce a

Piotr Szulczewski to step down as CEO Mr. Szulczewski to remain on the Company's board Company has commenced search for permanent CEO ContextLogic Inc. (d/b/a "Wish") (NASDAQ:WISH), one of the world's largest mobile ecommerce platforms, today announced that Piotr Szulczewski will be stepping down as Chief Executive Officer. He will remain on the Company's board of directors. To ensure an orderly transition, Mr. Szulczewski will remain CEO until either a successor is appointed by the Company's board of directors, or no later than February 1, 2022. The Company has engaged an executive search firm to assist in recruiting a new CEO. "As Wish's Founder and CEO for more than 10 years, Pi

Finance leader brings more than 20 years of private and public company experience to Wish ContextLogic Inc. (d/b/a Wish) (NASDAQ:WISH), one of the world's largest mobile ecommerce platforms, today announced the appointment of Vivian Liu as Chief Financial Officer, effective November 10, 2021. This is the latest in a series of C-suite appointments at Wish this year. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211025005073/en/Vivian Liu, CFO, Wish (Photo: Business Wire) In this role, Ms. Liu will oversee Wish's global financial operations, including financial planning and analysis, controllership, tax, treasury, audit, reportin

Former Google Executive to Drive Enhancement of Wish's Core Product Suite and the Creation of New Technology Solutions ContextLogic Inc. (d/b/a/ Wish) (NASDAQ:WISH), one of the world's largest mobile ecommerce platforms, today announced the appointment of Farhang Kassaei, former Senior Director at Google, to the newly created position of Chief Technology Officer, effective July 12, 2021. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210712005446/en/Farhang Kassaei, CTO, Wish (Photo: Business Wire) Mr. Kassaei will report to Wish Founder and CEO Piotr Szulczewski and will be responsible for Wish's core Marketplace as well as Eng

Citigroup upgraded Wish from Sell to Neutral and set a new price target of $5.50 from $5.00 previously

Loop Capital upgraded Wish from Sell to Hold and set a new price target of $4.00 from $6.00 previously

Loop Capital downgraded Wish from Hold to Sell and set a new price target of $6.00 from $7.00 previously

Citigroup initiated coverage of Wish with a rating of Sell and set a new price target of $0.50

Loop Capital downgraded Wish from Buy to Hold and set a new price target of $2.00 from $4.00 previously

Credit Suisse reiterated coverage of ContextLogic with a rating of Outperform and set a new price target of $9.50 from $12.00 previously

UBS downgraded Wish from Buy to Neutral and set a new price target of $4.00

Credit Suisse reiterated coverage of ContextLogic with a rating of Outperform and set a new price target of $12.00 from $15.00 previously

Credit Suisse reiterated coverage of ContextLogic with a rating of Outperform and set a new price target of $15.00 from $19.00 previously

Oppenheimer downgraded Wish from Perform to Underperform and set a new price target of $4.00

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SAN FRANCISCO, April 24, 2024 (GLOBE NEWSWIRE) -- ContextLogic Inc. (NASDAQ:WISH) today announced it will report its first quarter 2024 financial results after the close of market on Wednesday, May 8, 2024. ContextLogic's management team will host a live conference call and webcast for shareholders, analysts and portfolio managers to discuss the company's first quarter results that afternoon at 5:00 PM ET / 2:00 PM PT. Information about the company's financial results, including a link to the live webcast and replay will be made available on the company's investor relations website at https://ir.contextlogicinc.com. The live conference call may be accessed by registering using this onli

SAN FRANCISCO, Feb. 27, 2024 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ:WISH) ("ContextLogic" or the "Company") today announced it will report its fourth quarter and full year 2023 financial results after the close of market on Monday, March 4, 2024. In light of the pending transaction that was announced on February 12, 2024, the Company will not host a conference call or live webcast to discuss these financial results. About WishFounded in 2010 and headquartered in San Francisco, Wish is one of the largest global ecommerce platforms, connecting millions of value-conscious consumers in over 60 countries to thousands of merchants around the world. Wish combines technology a

SAN FRANCISCO, Nov. 07, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ:WISH), one of the largest mobile ecommerce platforms, today reported its financial results for the quarter and nine months ended September 30, 2023. Wish also announced today that its Board of Directors has initiated a process to explore a range of strategic alternatives to maximize shareholder value. Third Quarter 2023 Financial Highlights Revenues: Revenues were $60 million, a decrease of 52% YoY Core Marketplace revenues were $19 million, down 53% YoYProduct Boost revenues were $5 million, down 55% YoYLogistics revenues were $36 million, down 51% YoY Net Loss: Net loss was $80 million, compared to

SAN FRANCISCO, Oct. 10, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ:WISH), one of the world's largest mobile ecommerce platforms, today announced it will report its third quarter 2023 financial results after the close of market on Tuesday, November 7, 2023. Wish management will host a live conference call and webcast for shareholders, analysts and portfolio managers to discuss the company's third quarter results that afternoon at 5:00 PM ET / 2:00 PM PT. Information about Wish's financial results, including a link to the live webcast and replay will be made available on the company's investor relations website at https://ir.wish.com. The live conference call may be acc

SAN FRANCISCO, Aug. 03, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ:WISH), one of the largest mobile ecommerce platforms, today reported its financial results for the quarter and six months ended June 30, 2023. Second Quarter 2023 Financial Highlights Revenues: Revenues were $78 million, a decrease of 42% YoY Core Marketplace revenues were $24 million, down 56% YoYProduct Boost revenues were $6 million, down 45% YoYLogistics revenues were $48 million, down 30% YoY Net Loss: Net loss was $80 million, compared to a net loss of $90 million in the second

SAN FRANCISCO, July 12, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ:WISH), one of the world's largest mobile ecommerce platforms, today announced it will report its second quarter 2023 financial results after the close of market on Thursday, August 3, 2023. Wish management will host a live conference call and webcast for shareholders, analysts and portfolio managers to discuss the company's second quarter results that afternoon at 5:00 PM ET / 2:00 PM PT. Information about Wish's financial results, including a link to the live webcast and replay will be made available on the company's investor relations website at https://ir.wish.com. The live conference call may be ac

SAN FRANCISCO, April 13, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ:WISH), one of the world's largest mobile ecommerce platforms, today announced it will report its first quarter 2023 financial results after the close of market on Thursday, May 4, 2023. Wish management will host a live conference call and webcast for shareholders, analysts and portfolio managers to discuss the company's first quarter results that afternoon at 5:00 PM ET / 2:00 PM PT. Information about Wish's financial results, including a link to the live webcast and replay will be made available on the company's investor relations website at https://ir.wish.com. The live conference call may be access

SAN FRANCISCO, Jan. 26, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ:WISH), one of the world's largest mobile ecommerce platforms, today announced it will report its fourth quarter and full year 2022 financial results after the close of market on Thursday, February 23, 2023. Wish management will host a live conference call and webcast for shareholders, analysts and portfolio managers to discuss the company's fourth quarter results that afternoon at 5:00 PM ET / 2:00 PM PT. Information about Wish's financial results, including a link to the live webcast and replay will be made available on the company's investor relations website at https://ir.wish.com. The live confer

ContextLogic Inc. (d/b/a Wish) (NASDAQ:WISH), one of the largest mobile ecommerce platforms, today reported its financial results for the quarter ended September 30, 2022. Third-Quarter Fiscal 2022 Financial Highlights Revenues: Revenues were $125 million, a decrease of 66% YoY Core Marketplace revenues were $40 million, down 78% YoY ProductBoost revenues were $11 million, down 70% YoY Logistics revenues were $74 million, down 50% YoY Net Loss: Net Loss was $124 million, compared to a net loss of $64 million in the third quarter of fiscal 2021 Net Loss per share was $0.18, compared to a loss of $0.10 per share in the third quarter of fiscal 2021 Adjusted EBITDA: Adjusted

Conference Call to be Webcast Live at 5 PM ET / 2 PM PT ContextLogic Inc. (d/b/a Wish) (NASDAQ:WISH), one of the world's largest mobile ecommerce platforms, today announced it will report its third quarter 2022 financial results after the market close on Wednesday, November 9, 2022. Wish management will host a live conference call and webcast for shareholders, analysts and portfolio managers to discuss the company's third quarter results that afternoon at 5:00 PM ET / 2:00 PM PT. Information about Wish's financial results, including a link to the live webcast and replay will be made available on the company's investor relations website at https://ir.wish.com. The live conference call may