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Retail

General-Atlantic backed Wish confidentially files to go public

(Reuters) - General Atlantic-backed e-commerce firm Wish said on Monday it has confidentially submitted paperwork with the U.S. Securities and Exchange Commission to go public.

The San Francisco-based bargain shopping app, which was last valued at $11.2 billion, did not specify whether it would choose to go public through a traditional initial public offering or a direct listing.

Wish’s filing comes on the heels of a flurry of IPO filings earlier in August, as a number of high-profile startups such as Palantir Technologies, Asana and Snowflake rushed to take advantage of investor appetite for new listings.

Founded in 2010 by former Google executive Peter Szulczewski and Yahoo veteran Danny Zhang, Wish has expanded rapidly beyond its home base and is currently active in over 100 countries, selling more than 3 million products per day on its e-commerce platform, according to the company’s website.

Wish, which has raised about $1.8 billion till date, also counts the likes of Peter Thiel’s Founders Fund, GGV Capital and DST Global among its investors.

Reporting by Niket Nishant in Bengaluru; Editing by Shounak Dasgupta

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