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Wish Sold to Asian Ecommerce Platform Qoo10 for $173 Million

Retail TouchPoints

After years of decline, ContextLogic has sold its discount shopping app Wish for approximately $173 million in cash to Qoo10 , an ecommerce platform that operates localized online marketplaces throughout Asia. Qoo10 is headquartered in Singapore and operates marketplaces in Singapore, Indonesia, Malaysia, mainland China and Hong Kong.

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Have Temu and Shein Thwarted Wish’s Hopes of a Comeback?

Retail TouchPoints

When it debuted back in 2010, Wish was the only game in town as far as manufacturer-direct discount shopping apps went. But times have changed dramatically in the 13 intervening years: Temu , which debuted just last September, is now the top shopping app in the U.S., Reducing shopping and shipping friction.

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In the News: Recovery Grants From $1,000 to $100K Available to Small Businesses

Small Biz Trends

Businesses looking for help for debt repayment to renovations, operating expenses, lost revenue, and more can apply for grants from $1,000 to $100K. SBA Implores Americans to Shop Small on Small Business Saturday. And according to ResearchAndMarkets.com, the market is slated to grow from $51.32 The head of the U.S.