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Wish Launches Trade-In Program on Old Tech Through Partnership with Remarketed

Wish
Wish

SAN FRANCISCO, Feb. 26, 2024 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ: WISH), one of the world’s largest mobile ecommerce platforms, today announced the launch of a much-anticipated trade-in program for old tech. From next month, customers in select European geographies can begin trading-in old devices, including smartphones, laptops, tablets and smartwatches, in return for cash, with no strings attached1.

‘Wish Trade-In’ is being launched in partnership with Remarketed - one of Europe’s largest refurbished goods providers. Remarketed will provide customers with an instant estimated trade-in valuation based on the device’s age and condition. Customers can then send their device for free2 and, once it’s been received and verified, the payment will be processed. A select number of the refurbished devices will then be sold on Wish.

Wish Trade-In’ will be available to consumers in The Netherlands first, before being rolled out to other markets.

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“We are delighted to be able to offer a trade-in service to our customers. As well as putting cash back into the hands of our customers, it significantly reduces e-waste by extending a product’s life,” said Alan Small, Director of Business Development at Wish.

“The launch of our trade-in service complements our recently expanded range of refurbished electronics which allows customers to benefit from new technologies at a fraction of the price,” continued Mr. Small.

Customers can access Wish’s Trade-In service by visiting https://wish.remarketed.com/.

For more information about Wish, visit www.wish.com.

About Wish
Founded in 2010 and headquartered in San Francisco, Wish is one of the largest 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 Remarketed
Founded in 2017 and headquartered in the Netherlands, Remarketed Group has rapidly become a leading force in refurbishment, connecting families across numerous countries with high-quality, sustainable technology. Leveraging cutting-edge technology and a deep commitment to environmental sustainability, Remarketed Group offers a Trade-In experience that is not only user-friendly but also contributes to a more sustainable planet. For more information about Remarketed Group, visit Remarketed.com

Media contact:
Carys Comerford-Green, Wish
press@wish.com

Investor contact:
Ralph Fong, Wish
ir@wish.com

Forward-Looking Statements
This 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 Remarked and its facilitation of Wish Trade-In, including geographic availability, trade-in valuations, related processing fees, and payment process; business operations; quotes by management; 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.

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1 Customers are not required to use the proceeds of their sale to purchase an item on Wish.
2 Customers will receive a prepaid shipping label from Wish.