Từ 10 tỷ đô la đến tay trắng: Wish.com đã mất tất cả như thế nào

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In the 2010s, Wish ads were everywhere. A $1 cat mask, $10 drones, even “USB-powered pregnancy tests”—the weirdness was endless. But behind the viral ads was a company chasing growth at all costs. Wish was once one of the most downloaded shopping apps in the world, with over 400 million users and billions in revenue. They turned down a $10 billion buyout offer from both Amazon and Alibaba, believing they could become the next Walmart. Instead, they collapsed. Wish’s story is one of massive ambition, ad-driven growth, and some truly questionable business practices. They had -100% margins, no customer support, and even ran fake storefronts to test how long users would tolerate being scammed. At one point, they were the biggest ad buyer on Facebook—yet couldn’t turn a profit even during the online shopping boom of 2020. By 2024, Wish’s parent company sold it for just $173 million. A fall from grace so steep, it’s hard to believe it actually happened. This is the story of how Wish went from the dollar store of the internet… to a cautionary tale in Silicon Valley history.

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Timestamps:

0:00 - The State Of Wish

0:40 - Growth Over Everything

5:40 - The Ad Trap

12:44 - $10B To $173M

Resources:

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