$ContextLogic (WISH.US)$ The company is also building out co...
$ContextLogic (WISH.US)$
The company is also building out complementary businesses like logistics, fortifying itself much in the same way Amazon has. In the first quarter, logistics revenue exploded by 338% to $245 million, which lifted overall revenue by 75% to $772 million. The company is also innovating with programs like Wish Local, which allows small, independent stores to upload all of their inventory onto Wish's website. This has allowed it to capitalize on the large base of brick-and-mortar merchants.The company is also operating at a loss as it invests in long-term growth.
The company is also building out complementary businesses like logistics, fortifying itself much in the same way Amazon has. In the first quarter, logistics revenue exploded by 338% to $245 million, which lifted overall revenue by 75% to $772 million. The company is also innovating with programs like Wish Local, which allows small, independent stores to upload all of their inventory onto Wish's website. This has allowed it to capitalize on the large base of brick-and-mortar merchants.The company is also operating at a loss as it invests in long-term growth.
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