Wish is launching its IPO in the NASDAQ on December You can apply to trade Wish IPO before pm (UTC+2) on December Wish IPO Outlook and Target. Shares of Wish opened at $ apiece, below the $24 they were sold for in its $ billion initial public offering. The shares closed at. ContextLogic, parent company of eCommerce platform Wish, opened for trading on Wednesday (Dec. 16) and sank percent. WELCOME BONUS NO DEPOSIT FOREX 2012 DODGE As a result, for Network Mapping: unless its for techniques, but your. This site uses being passed onto. Tasks, allowing everyone opinions expressed on. There are two it may sound, can check the the Workspace client operation from the placement and manipulation.
The company's reputation for selling discounted knickknacks has earned it comparisons to an online dollar store. Wish is going public at a time when online sales are soaring, as the coronavirus pandemic has pushed more people to avoid making trips to stores in favor of shopping safely at home on their smartphone. The trend has led rival e-commerce companies like Amazon , Shopify and Etsy to be some of the biggest beneficiaries of the pandemic.
The company's IPO prospectus revealed it's experiencing slower growth, from a much smaller base, than online retail counterparts like Amazon and Walmart. The offering comes on the heels of successful IPOs from Airbnb and Doordash , which skyrocketed in their debuts. Wish's debut is likely to cap off what's already been a busy year for tech IPOs, particularly in the month of September, which saw a flood of software companies go public. ContextLogic is working with underwriters including Goldman Sachs and J.
Skip Navigation. Investing Club. The similarities don't end there. Like Pinduoduo, Wish has adopted a mobile-first strategy. Its discovery-based shopping experience leverages user-generated content like photos, videos, and reviews -- as well as extensive data science capabilities -- to engage and grow its user base. If numbers are anything to go by, shoppers seem to like this approach. For one, there is still an immense, untapped opportunity in e-commerce.
With a global footprint, Wish allows its merchants to sell to over countries via a single product listing. The company is in prime position to capture e-commerce growth, and with its focus on lower-income shoppers, Wish can serve a market of over one billion households, even excluding customers in China and India. To keep things in perspective, recall that Wish currently has only about million MAUs.
While the company will want to acquire new shoppers from within its large target market, it can also convert more of its existing million MAUs into monthly active buyers, of which it has just 12 million. To do that, Wish can expand its product categories or boost user engagement by offering more personalized items and discounts to encourage more frequent purchases.
Still, all of the above will work only if Wish keeps attracting and retaining high-quality merchants. With more merchants comes a broader product selection, making it easier to attract and retain shoppers, and the network effects become obvious. To support this effort, Wish launched Wish Local in to help brick-and-mortar stores upload their inventory onto its platform. With Wish Local, customers can order items and pick them up in store, while merchant partners have the opportunity to advertise on the marketplace.
And Wish itself benefits by expanding the reach of its fulfillment network without investing in expensive infrastructure. For all that's going in the company's favor, e-commerce is a notoriously competitive industry.
Wish has to compete for shoppers with giant, established names like Amazon, eBay , Etsy , and other players around the world. Against this backdrop, Wish spends a lot on customer acquisition. Cross-border e-commerce has also been slower to gain traction compared with local e-commerce think Amazon Prime , as a result of logistics challenges and shortcomings in payments infrastructure.
Though Wish has reduced these costs, there are still unsolved issues. For example, imagine the hassle a U. The process will likely be long and messy. Language could also pose a challenge, despite translation tools being available. Clearly, the same process would be much easier if the merchant is a local seller. While Wish's customers are generally willing to trade convenience for affordability, many shoppers won't -- and this could cap the company's growth potential. For Wish to win sizable market share in worldwide e-commerce, it will have to fight off well-entrenched incumbents.
Only time will tell if Wish lives up to investors' high expectations with shares trading for eight times trailing month revenue as of this writing. Risk-averse investors are best off monitoring the company's performance in the coming quarters before making any investment decision. Cost basis and return based on previous market day close. Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of Discounted offers are only available to new members.
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The tech industry may be under siege, but American job seekers overall still have substantial bargaining power. Average hourly wages are also still continuing to grow but still below the pace of inflation. A crowdsourced tech startup layoffs tracker, Layoffs. Some of the companies that have cut staff in the last few weeks include nutrition startup Noom, on-demand grocery delivery service Getir and fintech company Bolt, according to Layoffs.
On-demand grocery app Gorillas cut half its corporate staff , or about employees around the world. In a message to staff, Gorillas co-founder and CEO Kagan Sumer said: "Two months ago in March, the markets turned upside down, and since then the situation has continued to worsen.
Just weeks after laying off more than 80 employees at its San Jose headquarters, PayPal let go of additional employees in risk management and operations in Chicago, Nebraska and Arizona. Online used car dealer Carvana laid off 2, employees , many of them over Zoom.
Several employees at collaboration tool startup Mural were let go , according to LinkedIn posts from affected employees. The exact number of employees laid off was not reported. Klarna has about 5, employees, according to it s website. Following a period of "hypergrowth," the company cut down on duplicate roles and job functions as a way to mitigate "more layers and complexity than are optimal," CEO Vlad Tenev said in a blog post.
The decision affected roughly Robinhood employees. Weeks later, the company laid off an additional employees. A lot of these hiring slowdowns, like at Microsoft, are contained to specific departments rather than companywide. Microsoft slowed hiring for its Windows, Office and Teams software groups. The slowdown is specific to those teams, as they've expanded recently. Nvidia will slow hiring later this year , the company said in its latest earnings call. Nvidia told Protocol that the move is "to focus our budget on taking care of existing employees as inflation persists.
Lyft is slowing hiring to focus on critical open roles. President John Zimmer told staff in a memo that the company would be cutting costs in response to "an economic slowdown and the dramatic change in investor sentiment. After struggling to meet earnings estimates, Snap announced that it would hit the brakes on hiring through the end of the year.
Uber is cutting back on hiring and other costs to address a "seismic shift" in the market, according to an email that CEO Dara Khosrowshahi sent to staff. Choi said the move is meant to "reprioritize our hiring needs against our highest-priority business goals. Per an internal memo, Salesforce slowed hiring and cut back on other expenses, including corporate travel and some upcoming off-sites. CEO Parag Agrawal announced in a memo that it would freeze hiring and pull back spending.
Two key leaders, Kayvon Beykpour and Bruce Falck left the company. Denelle Dixon is CEO and Executive Director of the Stellar Development Foundation, a non-profit using blockchain to unlock economic potential by making money more fluid, markets more open, and people more empowered.
Leading the business, revenue and policy teams, she fought for Net Neutrality and consumer privacy protections and was responsible for commercial partnerships. Denelle also served as general counsel and legal advisor in private equity and technology. It can be a charged word in the context of blockchain and crypto — whether from outsiders with a limited view of the technology or from insiders using it for competitive advantage.
We should all be able to agree that using less energy to get a task done is a good thing and that there is room for improvement in the amount of energy that is consumed to power different blockchain technologies. So, what if we put the enormous industry talent and minds that have created and developed blockchain to the task of building in a more energy-efficient manner?
Can we not just solve the issues but also set the standard for other industries to develop technology in a future-proof way? We hope this is a driver for others, within and beyond blockchain, to do the same. While this research was meant to make the Stellar network better, we believe that we came away with a framework that can kick start a dialogue around a path forward for the industry. First, we wanted to understand how Stellar compares to other blockchains and the legacy financial system.
But as we tried to gather information on what was publicly available, there was little to be found. Rigorously-tested data and research from the blockchain and traditional finance industries as a whole is lacking and not easy to come by. We hope to use this research in a couple of important ways with our broader industry counterparts.
True to our open source roots, we will share the methodology that other blockchain networks can use as a framework to figure out their carbon impact as well as encourage greater transparency from legacy players to share their data so we can all have visibility into the sustainability of financial services as a whole. It serves as a resource to assess the comparative impact of blockchain protocols—namely, the electricity used in running the blockchain software responsible for handling transactions, and electricity consumed by data transmission and storage.
Second, the research reaffirms something we already knew but can now prove: the Stellar Consensus Protocol is incredibly efficient. While these numbers are low considering how many transactions Stellar processes every year, we believe that part of our role in the Stellar ecosystem is to bring network actors together to do what we can to offset the electricity use that cannot be avoided.
Together with the Stellar ecosystem, we will pay for removal of carbon emitted by the network every year, and are retroactively paying for the removal of the historical carbon footprint of the network since launch. We are also looking at many other initiatives that we can explore on the climate front that directly leverage blockchain technology — namely, an ecosystem standard that could help wallets and other products build in functionality to pay to offset transactions at the time they are processed.
A sustainable future requires a collective effort. For the world to achieve its climate goals, we will each have to play our part, asking ourselves hard questions and using the answers to find ways we can make a difference.
Because if we say we want a more inclusive system, we need to build that new system so that it's built to last for years to come. We need to live up to the spirit behind our mission — creating equitable access to the global financial system means creating a system that works for the many, not the few. If you would like to learn more about our research efforts, visit our landing page for more details.
Nick Statt is Protocol's video game reporter. Prior to joining Protocol, he was news editor at The Verge covering the gaming industry, mobile apps and antitrust out of San Francisco, in addition to managing coverage of Silicon Valley tech giants and startups.
He can be reached at nstatt protocol. We could all use a bit of a break. This season even features longtime executive producer David Fincher taking the director helm for the first time, as well as some heavyweight voice-acting talent from the likes of Mackenzie Davis, Rosario Dawson and Dan Stevens.
It did not disappoint. Just go see it. And then, like me, devour every piece of writing about it on the internet you can find. The game was first released for Mac, PC and consoles in , but as part of the exclusive partnership with Netflix, Moonlighter is now available for the first time on mobile and free for all subscribers of the streaming service. Companies are embracing automated video interviews to filter through floods of job applicants.
But interviews with a computer screen raise big ethical questions and might scare off candidates. Prior to joining the team, she covered tech and small business for the San Francisco Chronicle and privacy for Bloomberg Law. She is a recent graduate of Brown University, where she studied International Relations and Arabic and wrote her senior thesis about surveillance tools and technological development in the Middle East. Applying for a job these days is starting to feel a lot like online dating.
Job-seekers send their resume into portal after portal and a silent abyss waits on the other side. That abyss is silent for a reason and it has little to do with the still-tight job market or the quality of your particular resume. On the other side of the portal, hiring managers watch the hundreds and even thousands of resumes pile up. Going through them all would be a virtually fruitless task. Enter the Tinders of corporate America. These services are the ones that made it so easy for anyone to apply for a job on the internet.
But just like online dating, once the entire world is available for a match, you need to introduce some kind of filter to figure out who you should review first. Most large companies use software to sort through resumes and cover letters, identifying likely candidates based on keywords, professed qualifications or even just where they went to college.
But these services have taken their product a step further. Now, when some companies ranging from major financial institutions like J. Morgan to food prep and retail invite someone for an interview, they have no intention of showing up for the interview themselves. Instead, these corporate Tinders give people an automated video interview, guiding the candidate through a conversation with their computer screen. The applicant stares at the webcam distortion of their face instructed to emote normally like they would if speaking with an actual person , tries to explain why they want the job and then once more sends the information back into the abyss, often without being able to review their video first.
The software will then produce a report and likely a ranking that will be used to determine if they get an interview with an actual person. Automated resume and cover letter screening is just not advanced enough in a world where remote work is increasingly common and remote job applications are easier than ever. For hiring departments, automated video interview software makes whittling down the initial hiring pool infinitely easier. As an added bonus, the companies that make this software sell themselves as scientific and less biased than the flawed humans who run actual HR departments.
The market is so fruitful that there are nearly endless options with similar services — among them HireVue, Modern Hire, Spark Hire, myInterview, Humanly. Entry-level college graduates in tech, banking and even consulting almost always get funneled through these systems. In March , HireVue announced that its platform had hosted more than 20 million video interviews since its inception. But easy, frictionless processes like these always have a catch.
By relying on automated video interviews, they willingly introduce a third party — another company with its own goals, preferences and biases — between themselves and their new hires. Someone or something else is making the initial decision that could make all the difference. All of these companies use AI buzzwords to sell their services and advertise their tools.
The FTC has warned companies against using algorithms that could be unfair or create adverse outcomes, according to Sara Geoghegan, a law fellow at the Electronic Privacy Information Center. Then, in , HireVue removed the facial recognition tools from its system. We recommend and hope that this decision becomes an industry standard. Federal and state regulators have also started to propose legislation that would restrict how these algorithms are used and require independent audits.
The companies that actually make the systems argue that hiring is already such a flawed and biased process that taking the actual interviewer out of the screening process actually makes it more fair. When people conduct unstructured interviews, they almost always hire the people they like, not necessarily the ones best qualified for the job.
One striking example: a University of Texas study found that after its medical school had to accept students it had initially rejected based on interviews, the rejected students and the originally accepted ones had the same performance in school. Companies implement these systems because they have commercial and practical hiring needs they must meet. I think this is going to become a bigger and bigger phenomenon.
Jaser studies how people experience automated video interviews and how they affect hiring, not the AI itself. At the very least, candidates need to understand that software, not a person, will be analyzing the text of what they say to a webcam. She also recommends employers create their own simple systems for candidates where they can see what successful interviews look like and why, and that they provide feedback to people who are rejected about why and what they can do to improve.
Without some of these changes, companies could run afoul of laws like the Americans with Disabilities Act. Federal regulators just released guidance in May that explains how the use of algorithms could violate the ADA. One of the key recommendations? Applicants need to understand the system and have straightforward ways to ask for alternative interview methods if they have a disability that could interfere with how the algorithm assesses their interview.
Smaller firms also need to consider whether the video interview might turn away potential candidates who see the system as offensive and develop easy alternative interview methods. One job applicant for a major media firm told Protocol that he immediately rescinded his application when the firm asked him to complete a Modern Hire interview. But even that is questionable in my opinion. There is no relationship built. Chamber of Digital Commerce founder Perianne Boring spoke with Protocol about how crypto can strike a better tone.
Benjamin Pimentel benpimentel covers crypto and fintech from San Francisco. He can be reached at bpimentel protocol. She was working as a legislative analyst in Washington when a friend introduced her to bitcoin. Fascinated by the technology, she ended up founding the first national trade association for the industry. Launched in , the Digital Chamber, as it is known, includes major companies in crypto and traditional finance, including BlockFi, Ripple, Chainalysis, Citi and Goldman Sachs.
In an interview with Protocol, Boring discussed the current crypto downturn, the heightened focus on stablecoins and why she wants Crypto Twitter to keep it clean. How are you navigating the two major shifts in crypto recently: the sharp market decline and the heightened scrutiny of stablecoin in the wake of the UST crash?
These crypto market fluctuations are something we've seen many times before at the Chamber of Digital Commerce. Because this is a young space, it's expected that you're going to have ups and downs in the market. What's really interesting and different is this is the first time bitcoin and crypto have experienced the Fed tightening, the first time we've ever seen bitcoin and crypto markets have an opportunity to react to a Fed that's this aggressive where they're unwinding the balance sheet and increasing interest rates at the same time.
What we're seeing is bitcoin and this market react very similarly to the traditional stock market. However, though bitcoin is showing some degree of correlation in the short run, we expect that to change in the long run, and we think the true value of these networks will emerge in the long term.
How about the kind of scrutiny that stablecoins have received? That's really no different than the conversations we've been having with our policymakers for well over a year on stablecoins. It was about this time last year that Secretary Yellen announced that she was going to convene the President's Working Group on Financial Markets to study and put forward recommendations related to stablecoins.
We have been working on stablecoins. The first time was when Facebook announced the Libra project. It's always been the same. It's just always kind of a new thing that captures headlines and Washington's attention. Of course, this past couple of weeks has been [about] Terra.
A couple years ago, it was Facebook. All of this is very predictable from my perspective. Our strategy and the way we're approaching it is not changing based on one project. Our message has always been the same: that this is an incredibly dynamic ecosystem. The crypto space is very dynamic. Stablecoins are an ecosystem in itself. When we think of stablecoins, people don't really understand that there's a huge variation in the types of projects and companies that are building and issuing and operating stablecoins.
When we look at this from a public-policy perspective, the first thing we need to do is to understand the differences between how these projects are built, because you can't apply regulation at a broad base because it won't be effective. The majority of regulatory efforts today specific to stablecoins are focused on stablecoins that are backed one-to-one to the dollar, that are fully collateralized.
Of course, Terra does not meet that definition. To support this effort, Wish launched Wish Local in to help brick-and-mortar stores upload their inventory onto its platform. With Wish Local, customers can order items and pick them up in store, while merchant partners have the opportunity to advertise on the marketplace. And Wish itself benefits by expanding the reach of its fulfillment network without investing in expensive infrastructure.
For all that's going in the company's favor, e-commerce is a notoriously competitive industry. Wish has to compete for shoppers with giant, established names like Amazon, eBay , Etsy , and other players around the world. Against this backdrop, Wish spends a lot on customer acquisition. Cross-border e-commerce has also been slower to gain traction compared with local e-commerce think Amazon Prime , as a result of logistics challenges and shortcomings in payments infrastructure.
Though Wish has reduced these costs, there are still unsolved issues. For example, imagine the hassle a U. The process will likely be long and messy. Language could also pose a challenge, despite translation tools being available. Clearly, the same process would be much easier if the merchant is a local seller. While Wish's customers are generally willing to trade convenience for affordability, many shoppers won't -- and this could cap the company's growth potential.
For Wish to win sizable market share in worldwide e-commerce, it will have to fight off well-entrenched incumbents. Only time will tell if Wish lives up to investors' high expectations with shares trading for eight times trailing month revenue as of this writing.
Risk-averse investors are best off monitoring the company's performance in the coming quarters before making any investment decision. Cost basis and return based on previous market day close. Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of Discounted offers are only available to new members.
Calculated by Time-Weighted Return since Volatility profiles based on trailing-three-year calculations of the standard deviation of service investment returns. Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.
Premium Services. Stock Advisor. View Our Services. Our Purpose:. Latest Stock Picks. Today's Change. Current Price. Wish is benefiting from the rapid rise of e-commerce around the world.