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NEW YORK - WeShop Holdings Limited (NASDAQ:WSHP) launched its social commerce platform in the U.S. market on Thursday, following the company's Nasdaq debut on November 14. The stock has seen a remarkable 562% return over the last week, with shares trading at $200, pushing its market capitalization to $6.8 billion despite generating just $1.11 million in revenue over the last twelve months.
The platform allows users to earn ownership in the company through its ShareBack program, where shoppers accumulate WePoints with purchases and referrals that can be converted into equity.
The U.S. app launch includes partnerships with retailers including Bloomingdales, Walmart and Nike, offering access to over one billion products across fashion, electronics, beauty, home, and lifestyle categories.
"With this launch, we're giving U.S. consumers a completely new type of shopping experience, one where the community is rewarded for the value it creates," said John Garner, Founder of WeShop.
The company reported that its prior U.K. pilot generated more than $140 million in sales, demonstrating consumer interest in the model.
WeShop's app is available on both the App Store and Google Play, combining social discovery features with shopping functionality ahead of the 2025 holiday shopping season.
The platform enters a growing market, as the company stated in its press release that global e-commerce is expected to surpass $8 trillion by 2027, with social commerce projected to exceed $2 trillion by 2026.
Users can earn WePoints through purchases and by referring friends who shop through the platform, with these points convertible to company equity according to the terms outlined in the company's ShareBack program prospectus.
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