Amidst economic uncertainty, GoWish's wishlist app is thriving, defying the odds with a record-breaking year. With over 13.6 million registered users, it soared to the top of the U.S. App Store charts, marking a significant milestone. But here's the twist: this success isn't a one-time fluke.
GoWish has consistently gained traction, doubling its user base from the previous year and attracting hundreds of thousands of new users daily in November. This exponential growth isn't limited to the U.S.; it boasts 6.2 million users there and 1 million in the U.K., but its real stronghold is in Denmark, where it enjoys over 50% market penetration with 3.5 million Danish users.
The app's journey began in 2015 as a seasonal wishlist gimmick called "Ønskeskyen" (Danish for "wish cloud") by the Danish-Swedish postal service, PostNord. However, its founders envisioned a grander future.
In 2020, Danish VC Dotcom Capital, owned by Casper Ravn-Sørensen and his partner Mads Dahlerup, acquired GoWish. They transformed it into an independent tech company, creating an international version of the app. This move sparked a unique claim: "We might be the first state-founded tech platform to go global as a privately-owned scale-up," said Ravn-Sørensen.
GoWish's appeal lies in its functionality. Users can create multiple wishlists for themselves and others, adding products from online retailers with ease. With a tap, they can purchase items, and the app's AI-powered features promise an enhanced experience in the future.
The app's success is attributed to its marketing strategy across major platforms like Meta, TikTok, Google, and Snap. This approach has led to impressive financial results, with net profits after tax of $1.7 million in 2024, reinvested in growth. And this is where it gets controversial—GoWish's affiliate and brand partnerships, with over 65,000 and 700 partners respectively, are a key part of its success, but the company remains tight-lipped about its total revenue.
GoWish's ambition is twofold. In the short term, it aims to 'fix gifting' by preventing duplicate gifts and returns. But its long-term vision is bolder: to become the 'global genie' of social shopping, predicting consumer trends across generations.
With a team of 90, backed by Capital D, a London-based private equity firm, and Dotcom Capital, GoWish is available on iOS, Android, and as a Chrome extension, making it accessible to a wide audience.
This success story is brought to you by Sarah, a TechCrunch reporter since 2011, with a background in I.T. and journalism. Reach out to her at sarahp@techcrunch.com or via encrypted message for more insights.
