(The new round was first reported last week by Axios which put the valuation at north of $8 billion.) That makes Wish, which offers cut-rate prices by shipping directly from manufacturers in China, worth more than some of America’s most storied brick-and-mortar retailers. Combined, Macy’s, JC Penney and Sears, with their market caps of $6.6 billion, $1.2 billion and $780 million respectively, are worth roughly the same as Wish, whose valuation could rise further once this eighth round of funding closes. In less than six months, Wish’s valuation has more than doubled. “The investor class in Silicon Valley said, 'I don't know anyone that would shop on Wish,'" Szulczewski said at the Code Conference last December.

Source: Forbes September 20, 2017 19:08 UTC