Mexican investors can now buy shares of the Wish platform, the ‘unicorn’ of electronic commerce, on the BMV.

Grow Your Business,
Not Your Inbox

Stay informed and join our daily newsletter now!

March
18, 2021

3 min read

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.


If you are a fan of shopping on the Wish platform (or maybe not), now you can add a few shares of the company to your cart. Since this Tuesday, the ‘unicorn’ of electronic commerce began to be listed in the International Quotation System (SIC) of the Mexican Stock Exchange (BMV) .

As of this March 16, Mexican investors can acquire shares of the company based in San Francisco, California, under the ticker symbol ‘WISH’ , the BMV reported.

Founded by Peter Szulczewski and Danny Zhang in 2010, Wish was born as an app to create shopping wish lists with products from different retailers, mainly Asian.

“This allowed the technology firm to begin to grow through alliances with merchants through an online market platform (market place), and offer competitive prices to consumers,” said the BMV in a statement.

Companies capable of reaching a market value of one billion dollars during their first year of launch, even before going on the market, are called a ‘unicorn’.

Today, Wish has more than 1.5 million products for sale from 500,000 merchants around the world. The platform registers more than 107 million monthly users .

The firm debuted on the Nasdaq index on December 16, 2020. It fell about 16% that month, but is already in the process of recovering. So far in 2021 it accumulates a yield of 4.5% .

The International Quotation System (SIC) is a platform created by the BMV in 2013 that allows investment from Mexico in stocks and ETFs listed in other markets around the world.

With the arrival of Wish , the SIC adds 107 listed values in 2021, among which are Marriot and Epson . At the end of March 12, the SIC of the BMV had a total of 2,681 securities, including shares and ETFs.

Facebook Comments

This post was originally published on this site

Roland Millaner