ContextLogic Inc. (d/b/a Wish) (NASDAQ: WISH), one of the world’s
largest mobile ecommerce platforms, this week announced an
agreement with French ecommerce SaaS solution provider, Octopia,
which will open up a gateway for hundreds of Europe-based merchants
to start selling on its platform. As part of the deal, which is set
to go live in Q4 2023, Wish will only allow merchants with merchant
ratings of 4, 5 or above as the marketplace continues on its
journey to improve the range of listings on its platform.
Octopia’s merchants offer a range of goods
spanning consumer electronics, beauty, fashion, home & garden
and hobbies - many of which are recognized household brands. Most
of its merchants are based in Europe, with a large proportion
distributed across France.
“We’re on a mission to improve and expand the
range of products listed on our platform, so partnering with
Octopia, who have a large portfolio of quality merchants, was an
obvious next step,” said Alan Small, Director of Business
Development, EMEA at Wish. “The breadth and depth of merchants that
Octopia is bringing to Wish is truly unique. We’re excited to get
started, and further develop our partnership over the coming
months.”
Through the partnership, merchants and brands on
the Octopia platform will be able to quickly and easily sell to
millions of consumers on the Wish marketplace. Octopia merchants
will have free access to a direct integration module on the Octopia
platform that connects them directly to Wish’s merchant dashboard.
The module will sync their products and orders between Octopia and
Wish. Octopia merchants will also benefit from a suite of
additional marketing and sales support and a number of special
incentives.
Wish will enjoy official “Trusted Partner”
status on Octopia and will benefit from a special landing page on
the Octopia platform for merchants.
"We are delighted to support Wish in its
development and the expansion of its catalog of quality vendors
offered by Octopia," said Paul Garcia, Sales Director at
Octopia.
Earlier this year, Wish introduced flat rate
shipping to customers in its major markets. The flat rate shipping
fee is applied to all eligible items1 over 10 €, at no additional
cost to merchants.
To learn more about Wish, download the app or visit
www.wish.com.
About WishFounded in 2010 and headquartered in
San Francisco, Wish is one of the largest and fastest growing
global ecommerce platforms, connecting millions of value-conscious
consumers in over 60 countries to thousands of merchants around the
world. Wish combines technology and data science capabilities and
an innovative discovery-based mobile shopping experience to create
a highly-visual, entertaining, and personalized shopping experience
for its users. For more information about the company or to
download the Wish mobile app, visit Wish mobile app, visit
www.wish.com or follow @Wish on Facebook, Instagram and TikTok or
@WishShopping on Twitter and YouTube.
About Octopia
Octopia is a French company that has developed a
complete and modular marketplace solution. Thanks to its robust and
scalable technology, its catalog of more than 15,000 qualified
sellers, its logistical expertise and its experience as a
marketplace operator for more than ten years, Octopia enables all
physical retailers and pureplayers to accelerate their e-commerce
activity. Octopia supports retailers in Europe, Africa and the
Middle East with solutions adapted to each market, allowing them to
scale up quickly, benefiting from the tools and know-how of the
leaders.
Forward Looking StatementsThis
news release contains forward-looking statements within the meaning
of the Safe Harbor provisions of the Private Securities Litigation
Reform Act of 1995. All statements other than statements of
historical fact could be deemed forward-looking, including, but not
limited to, statements regarding Wish's outlook; priorities;
strategic direction; partnership with Octopia, and its impact on
merchant experience; range of goods and product listings; quality
of products; consumer reach; quotes by management; business
operations; and growth initiatives. In some cases, forward-looking
statements can be identified by terms such as “anticipates,”
“believes,” “could,” “estimates,” “expects,” “foresees,”
“forecasts,” “guidance,” “intends” “goals,” “may,” “might,”
“outlook,” “plans,” “potential,” “predicts,” “projects,” “seeks,”
“should,” “targets,” “will,” “would” or similar expressions and the
negatives of those terms. These forward-looking statements are
subject to risks, uncertainties, and assumptions. If the risks
materialize or assumptions prove incorrect, actual results could
differ materially from the results implied by these forward-looking
statements. New risks emerge from time to time. It is not possible
for our management to predict all risks, nor can we assess the
impact of all factors on our business or the extent to which any
factor, or combination of factors, may cause actual results to
differ materially from those contained in any forward-looking
statements we may make. Further information on these and additional
risks that could affect Wish’s results is included in its filings
with the Securities and Exchange Commission (“SEC”), including its
most recent Annual Report on Form 10-K and Quarterly Report on Form
10-Q, and future reports that Wish may file with the SEC from time
to time, which could cause actual results to vary from
expectations. Any forward-looking statement made by Wish in this
news release speaks only as of the day on which Wish makes it. Wish
assumes no obligation to, and does not currently intend to, update
any such forward-looking statements after the date of this
release.
Media contact:Carys Comerford-Green,
Wishpress@wish.com
Aurélie Imbert, Octopiaaurelie.imbert@octopia.com
Investor contact:Ralph Fong,
Wishir@wish.com
_____________________________
1 Eligible products are those that are shipped from merchants in
China who use our A+ logistics network. All non-eligible items will
continue to incur their own, separate shipping fees.
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