1st generation digital pioneer, early stage investor and Food- and RetailTech entrepreneur
Reflecting on Wish’s acquisition by Qoo10 for a mere $1 after a significant devaluation, it serves as a stark reminder of the perils of unchecked greed, especially for founders. Wish, once a thriving wishlist management app, expanded ambitiously but faced a sharp decline in stock value, dropping by 99% compared to its IPO valuation by August 2023. This cautionary tale underscores the volatile nature of the market and the importance of prudent decision-making in business endeavors. Indeed, it exemplifies the classic narrative of the rise and fall of an empire, urging entrepreneurs to navigate the delicate balance between ambition and sustainability. #startupwisdom #businesslessons #valuations #greed #investing #foodforthought
