Social shopping company Wish raises $50 million in funding

Posted Jun 28, 2014

Wish is a social shopping website and mobile app that has raised $50 million in a new round of funding led by Founders Fund with participation from existing investors Formation 8, GGV Capital, Yahoo co-founder Jerry Yang, Legend Capital and several others. 

Wish was founded by former Google, Yahoo!, and Facebook employees Peter Szulczewski and Danny Zhang. Wish uses algorithms and machine-learning technology to adapt to a user’s tastes to show them products that they like.

Wish reports 31 million active users along with 10,000 merchants using its platform to sell their products, which includes a 15% transaction fee. Wish is now valued at around $400 million and has raised around $80 million thus far.

[Source: TC]