Qoo10 Acquires 'Wish' Serving Over 200 Countries... "Building a Global Digital Commerce Platform"

Qoo10 is accelerating the establishment of a global e-commerce ecosystem.

On the 13th, Qoo10 announced that on the 10th (U.S. local time), it signed a comprehensive business transfer agreement for the global service "Wish," operated by the Nasdaq-listed U.S. company ContextLogic.

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Qoo10 operates overseas direct purchase delivery agency services and online shopping malls in six Asian countries.

Wish is a shopping platform founded in 2010 based in San Francisco, USA, currently serving consumers in over 200 countries worldwide in 33 languages. It sells and ships more than 80 million types of products, with over 10 million customers using the service every month. Wish is a "discovery-based shopping platform" that proposes products tailored to local consumers in all categories, having built an integrated marketplace covering local currency conversion and payment, product sales and purchases, and shipping.

Gu Young-bae, CEO of Qoo10, said, "The combination of Wish and the Qoo10 Group, along with the passion and dedication of our members, will bring us closer to achieving the goal of becoming a leading 'global digital commerce platform'." He added, "We aim to further activate the overseas expansion of domestic sellers and products, thereby contributing to the development of domestic industries. Our ultimate goal at Qoo10 Group is to build a marketplace that connects sellers and consumers worldwide and lead the expansion of the global e-commerce ecosystem."

Through this acquisition, Qoo10 has expanded its global logistics network while securing a foothold to instantly increase order volumes worldwide and active consumers in North America and Europe. In particular, it is expected to strengthen the global competitiveness of its logistics subsidiary "Qxpress," which has fulfillment operation capabilities specialized in e-commerce. Qoo10 has opened integrated global sales channels to all domestic sellers trading with its affiliates TMON, WEMAKEPRICE, and Interpark Commerce, while also providing differentiated global services to domestic consumers.

Meanwhile, Wish has a wide range of sellers in categories such as living, fashion, beauty, and electronics, operating an extensive global supply chain targeting over 200 countries worldwide. It provides 4PL (four-party logistics) based on integrated logistics solutions in 44 countries including Europe, the Americas, Asia, and Africa, and 3PL (third-party logistics) services in 16 countries. Additionally, it is expanding the operation of "Wish Local" partner stores, which allow product pickup in cooperation with about 20,000 retailers in Europe and the Americas, thereby enhancing cross-border delivery efficiency.

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