from Hacker News

ContextLogic (wish.com) has 12 employees remaining

by cozos on 5/9/24, 12:00 AM with 1 comments

• by cozos on 5/9/24, 12:02 AM

  "After the asset sale to Qoo10 closed on April 19th, ContextLogic had approximately $2.7 billion of NOL carryforwards and approximately $161 million in cash, cash equivalents and marketable securities, which consist of government securities. Combined, this represents the net proceeds from the sale. We have no debt.

  We have gone from nearly 500 employees worldwide at December 31st to 12 full-time and part-time employees, including some temporary or contract employees. We are no longer liable for any of our old leases, including our former corporate headquarters in San Francisco."