ecommerce

Bloomberg: Naspers subsidiary Prosus sold 131.8M shares in JD.com, a ~4% stake worth $4B+, saying the e-commerce company “does not form part of core strategic focus” — An arm of South African internet giant Naspers Ltd. sold almost $4 billion worth of stock in JD.com Inc. that it got … Bloomberg: Naspers subsidiary Prosus sold 131.8M shares in JD.com, a ~4% stake worth $4B+, saying the e-commerce company “does not form part of core strategic focus” …

Zheping Huang / Bloomberg: How TikTok is cashing in on its exploding popularity; source: TikTok plans to grow its e-commerce gross merchandise volume to $2B in 2022 and $23B in 2023 — Alyssa McKay used to work part-time at a frozen yogurt store in Portland, Oregon, making minimum wage to cover her college tuition. Zheping Huang / Bloomberg: How TikTok is cashing in on its exploding popularity; source: TikTok plans to grow its e-commerce gross merchandise volume to $2B in 2022 and $23B in…

Sebastian Siemiatkowski, the cofounder and CEO of Klarna, looks slightly frayed down the barrel of his webcam as he explains over Google Meet why everything is fine at the fintech despite increasingly frenzied warnings of a looming recession.Klarna is a European heavyweight, currently the bloc’s most valuable private tech company. Since launching in 2005, the Swedish unicorn has become synonymous with “buy now, pay later” (BNPL), a type of debt popular among Generation Z that enables shoppers to split the cost of their…

Hey, folks. Ready for a wet, hot summer? Better keep the Paxlovid handy.The Plain ViewWhen I spoke to Shopify’s CEO and founder, Tobias Lütke, earlier this month, I was the first to tell him about an unfortunate headline that had just appeared: “Is Shopify the next WeWork?” Lütke, who goes by Tobi, was talking to me about a big rollout of new features for the platform, which provides tools for merchants to digitally sell their wares directly to customers. He built the company into an e-commerce behemoth somewhat under the…

E-commerce platforms are now the fastest growing medium for digital ads in India, with a $6-8 billion opportunity by 2030, according to a new report.The growth in product e-commerce user base is expected to be faster than search and social media platforms, with 300-350 million new online shoppers from tier 2 markets expected by 2030.India's digital ads market is expected to touch $35 billion in the same time-period and e-commerce platforms will be one of the biggest contributors enabling this upward spiral, according to…

With the world immersed in data from disparate sources, every time you click your mouse to purchase something, the information trail (data) is captured and stored which is used in the future by retailers to attract you to make more purchases. Even though future events have distinct circumstances or conditions, they characteristically follow similar patterns. The “Big Data Revolution” has brought technological advancements in data storage, cloud computing, and data science which helps businesses identify these similar…

Rider is on a mission to provide online shoppers in Pakistan with “Amazon-like” next-day deliveries. The Karachi-based company announced it has raised $3.1 million in new funding from Y Combinatior, along with new investors i2i, Flexport, Soma Capital and Rebel Fund. Returning investors included GFC, Fatima Gobi and TPL E-ventures, along with Dropbox co-founder Arash Ferdowsi. This brings RIder’s total raised to $5.4 million since September 2021. Founded in 2019 by former UPS Pakistan executive Salman Allana, Rider…

Etan Vlessing / Hollywood Reporter: Roku unveils an e-commerce deal with Walmart, allowing TV viewers to use remotes to shop during commercials and check out with Roku Pay; stock up 4% after hours — The pact could make TV streaming the next frontier in e-commerce shopping by blending entertainment and instant product purchases. Etan Vlessing / Hollywood Reporter: Roku unveils an e-commerce deal with Walmart, allowing TV viewers to use remotes to shop during commercials and check out with Roku Pay;…

The global technology industry is pressing the World Trade Organization to exempt data flows from cross-border tariffs, saying a failure to do so would undermine a global recovery already threatened by spiralling prices. The WTO's 164 members presented their views on the topic on Wednesday as negotiations at the ministerial conference ran into overtime amid growing pessimism about deals. Keisal Peters, trade minister of St Vincent and the Grenadines, who is leading discussions, said at the conference that divergences…

Sea Group's e-commerce arm Shopee, which shut its India operations in March, is laying off staff across Southeast Asia, including Indonesia, Thailand and Vietnam, media reports said on Tuesday.According to DealStreetAsia, the layoffs have hit employees across several of the company's Southeast Asian markets and Shopee has emailed those affected by the layoffs."Shopee's payments arm ShopeePay and food delivery business ShopeeFood are also said to be facing cuts," the report noted.The move by the company is reportedly aimed…