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Wish, a San Francisco-based mobile shopping giant, raised approximately $300 million in Series H funding at an $11.2 billion post-money valuation, led by General Atlantic.
Why it matters: Wish built much of its business by sourcing low-cost goods from China, but President Trump's tariffs threaten to upend some of those economics. That's why Wish's deal announcement highlights plans to expand its "merchant footprint in Europe and North America." Expect Amazon to use Wish as a competitive shield against monopoly claims, much like Facebook is trying to use TikTok.