STOCK TITAN

Wish Releases Inaugural ‘Anti-Counterfeiting Report’ as it Continues to Crack Down on Counterfeiters

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Negative)
Tags
Rhea-AI Summary
ContextLogic Inc. (d/b/a Wish) releases its inaugural 'Anti-Counterfeiting Report' to combat the listing and sale of counterfeit goods on its platform. The report highlights tools and resources to detect and enforce against counterfeit goods, progress made in the past 6 months, and partnerships and programs to prevent counterfeits. Wish has processed over 9,000 IP violations, responded to 98% of takedown requests within 24 hours, issued over 700,000 infractions, and signed up more than 2,300 brands to its Brand Partner Program.
Positive
  • None.
Negative
  • None.

SAN FRANCISCO, Nov. 03, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ: WISH), one of the world’s largest mobile ecommerce platforms, is proud to announce the release of its inaugural ‘Anti-Counterfeiting Report’. The publication of the report represents a significant step in Wish’s ongoing commitment to combating the listing and sale of counterfeit goods on its platform.

Wish’s first ‘Anti-Counterfeiting Report’ provides an overview of the tools and resources it has in place to detect and enforce against the listing or sale of allegedly counterfeit goods.

The report also shines a light on some of the progress Wish has made over the past 6 months to clamp down on counterfeiters, which includes1:

  • Processing more than 9,000 IP violations that were reported via the ‘Report this Listing’ button, email, online web form or Wish’s Brand Partner Program Portal
  • Responding to 98% of all IP violation takedown requests within 24 hours, further demonstrating Wish’s commitment to promptly addressing and resolving IP or counterfeit concerns
  • Issuing over 700,000 infractions to violating merchants, ranging from impression blocking to store suspension
  • Signing up more than 2,300 brands to Wish’s Brand Partner Program since its inception in 2016

As well as providing a progress update, the report looks at key trends, and provides information regarding Wish’s partnerships and programs that help prevent counterfeits from appearing on the platform, such as Wish’s Brand Partner Program Portal.

"We recognize customers want to purchase products that are authentic, regardless of their price or provenance. We are focused on anti-counterfeiting, and have invested in new technologies and initiatives to help us detect and remove counterfeit goods from infiltrating our platform,” said Erin Brusseau, Direct of Content Moderation at Wish.

“The launch of our first ‘Anti-Counterfeiting Report’ is a testament to our commitment to combat counterfeiting and promote a greater degree of transparency around what is an industry-wide issue."

Wish’s ‘Anti-Counterfeiting Report’ available to download for free here.

To learn more about Wish, download the app or visit www.wish.com.

About Wish
Founded 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 FacebookInstagram and TikTok or @WishShopping on Twitter and YouTube.

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; impact of anti-counterfeiting measures and related initiatives on platform experience; impact and effectiveness of tools and resources implemented to prevent, detect, and enforce against counterfeiting; 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.

________________________________
1 All data points captured between 01 January 2023 - 30 June 2023


The purpose of Wish's 'Anti-Counterfeiting Report' is to combat the listing and sale of counterfeit goods on its platform and promote transparency.

The report highlights tools and resources to detect and enforce against counterfeit goods, progress made in the past 6 months, and partnerships and programs to prevent counterfeits.

Wish has processed over 9,000 IP violations, responded to 98% of takedown requests within 24 hours, and issued over 700,000 infractions to violating merchants.

More than 2,300 brands have signed up to Wish's Brand Partner Program.

The 'Anti-Counterfeiting Report' can be downloaded for free on Wish's website.
ContextLogic Inc

NASDAQ:WISH

WISH Rankings

WISH Latest News

WISH Stock Data

Electronic Shopping
Retail Trade
Link
Wholesale Distributors, Distribution Services, Finance, Investment Managers
US
San Francisco

About WISH

wish is a mobile e-commerce platform that connects hundreds of millions of consumers with the widest selection of products delivered directly to their doors. our mission is to provide everyone access to the most affordable and convenient shopping experience on the planet. wish supports 500,000 merchant partners as well as over 300 million users who rate wish the best mobile shopping app on the ios and android platforms. founded in 2011, wish has raised over a billion dollars from top funds, such as temasek, dst, ggv capital, founders fund, and jerry yang’s ame cloud. wish is headquartered in san francisco, with additional offices in shanghai, toronto, dublin, amsterdam, and more.