ecommerce | Pixr8 News

20Oct By PriyankaNo Comments

FUNDING

Bangladesh based ShopUp raises $22.5 Million in Funding

Dhaka, 20th Oct 2020: Bangladesh based digital store making platform ShopUp raises $22.5 million in a Series A round funding led by Sequoia Capital India and Flourish Ventures. VEON Ventures, Speedinvest, and Lonsdale Capital (Singapore) also participated in the round. The funding will use to extend its retail reach, as it deepens its partnerships with manufacturers and focuses on building tech-first infrastructure. ShopUp offers small businesses easy access to B2B sourcing, last-mile logistics, digital credit, and business management solutions. This helps these neighborhood mom-and-pop sellers achieve more profit with less effort, allowing them to focus their efforts towards engaging with their customers and business expansion. “COVID-19 has further underscored the need for d...

Amazon Sends Legal Notice to Future Group over Asset Sale to Reliance Group

12Oct By PriyankaNo Comments

News

Amazon Sends Legal Notice to Future Group over Asset Sale to Reliance Group

NEW DELHI, 12th October 2020: US based eCommerce giant Amazon sends a legal notice to Future Group, alleging that the retailer's $3.4 billion asset sale to Reliance Industries violated an agreement with the e-commerce giant. "We have initiated steps to enforce our contractual rights," a spokesperson for the Seattle-based e-commerce giant said. "As the matter is sub-judice, we can't provide details." In August 2019, Future Retail had informed stock exchanges that Amazon.Com NV Investment Holdings LLC would acquire 49 per cent stake in Future Coupons from their promoters, led by Kishore Biyani, for an undisclosed amount. At that time Future Coupons held 7.3 per cent stake in Future Retail. As part of the agreement, Amazon was also granted a call option, which allowed the US e-commer...

Amazon Introduces Amazon One, a Contactless Payment via Palm

29Sep By PriyankaNo Comments

News

Amazon Introduces Amazon One, a Contactless Payment via Palm

Seattle, 29th Sept 2020- US-based eCommerce platform Amazon Introduces Amazon One, a contactless way for people to use their palm to pay at the store, entering a location like a stadium, etc. Amazon said the service is designed to be highly secure and uses custom-built algorithms and hardware to create a person’s unique palm signature." Amazon will use this service in select Amazon Go stores, where Amazon One will be added to the store’s entry gate as a convenient choice for customers to use to enter the store to shop. In most retail environments, Amazon One could become an alternate payment or loyalty card option with a device at the checkout counter next to a traditional point of sale system. The process takes less than a minute to sign up at these Amazon Go stores using an ...

Walmart to Invest $25 bn in Tata Group’s ‘Super App’

29Sep By reutersNo Comments

BUSINESS

Walmart to Invest $25 bn in Tata Group’s ‘Super App’

Walmart Inc is in talks with Tata Group for a potential investment of up to $25 billion in the Indian salt-to-software conglomerate's new "super app", the Mint newspaper reported on Tuesday, citing people familiar with the matter. According to ongoing discussions between the two companies, the super app could be launched as a joint venture between Tata and Walmart, leveraging on the synergies between Tata's e-commerce business and Flipkart, Walmart's e-commerce unit, according to the report. The news comes as Reliance Industries Ltd, controlled by Asia's richest man Mukesh Ambani, raised over $20 billion from investors including Facebook, Alphabet's Google, KKR & Co, and Silver Lake Partners by selling stakes in its digital business Jio Platforms. The Walmart investment could ...

Walmart drone delivery testing in North Carolina city

9Sep By AdityaNo Comments

News

Walmart drone delivery testing in North Carolina city

New York, Sept. 9, 2020: US-based retail stores Walmart said in its press release that they are testing on-demand drone delivery with Flytrex. The pilot program launched in Fayetteville, North Carolina, and focuses on delivering select grocery and household essential items from Walmart stores using Flytrex’s automated drones. Tom Ward, Senior Vice President, Customer Product, Walmart said, "From being an early pioneer of universal bar codes and electronic scanning cash registers to our work on autonomous vehicle delivery, we’re working to understand how these technologies can impact the future of our business and help us better serve our customers." Last week, Amazon won regulatory approval to deliver packages by drone, but the company said it was still testing the self-piloting a...

Walmart+ – A Membership Program by Walmart Cost $98 a year

1Sep By AdityaNo Comments

News

Walmart+ – A Membership Program by Walmart Cost $98 a year

BENTONVILLE, Ark., Sept. 1, 2020 — Retail store giant Walmart is launching a new membership program Walmart+ that brings together in-store and online benefits. Walmart+ uses the company’s unique assets to make life easier for busy families. Along with the power of its online presence, Walmart+ has the reach of more than 4,700 stores, including 2,700 stores that offer delivery as fast as same day. Members will receive unlimited free delivery from stores, fuel discounts and access to tools that make shopping faster for families. Membership will be available to all customers on Sept. 15. It will cost $98 a year or $12.95 a month and includes a 15-day free trial period. In the future, the company will leverage its wide-ranging strengths to add additional benefits for members in a va...

Amazon Ordered 1,800 Electric Delivery Vans from Mercedes Benz

28Aug By PriyankaNo Comments

Automobile

Amazon Ordered 1,800 Electric Delivery Vans from Mercedes Benz

Berlin, Aug 28, 2020: Amazon bought 1,800 electric delivery vans from Mercedes-Benz, the biggest such order for the German automaker to date. In announcing the order, Mercedes said it would also join a climate initiative established by Amazon founder Jeff Bezos. By signing up to The Climate Pledge, Mercedes-Benz commits itself to going completely carbon neutral by 2039. Scientists say man-made emission of greenhouse gases such as carbon dioxide must end by 2050 at the latest to avoid pushing global temperatures beyond the threshold of 1.5 degrees Celsius (2.7 Fahrenheit) set out in the Paris climate accord. The transport sector, including the surge in deliveries from online retailers like Amazon, is a major source of carbon emissions. “We need continued innovation and partne...

Alibaba beats Quarterly Revenue, Profit Estimates

21Aug By reutersNo Comments

CHINA

Alibaba beats Quarterly Revenue, Profit Estimates

China’s Alibaba Group Holding Ltd beat quarterly revenue and profit estimates on Thursday as its core commerce and cloud computing businesses benefited from a shift to online shopping and working from home due to the coronavirus crisis. The company’s U.S.-listed shares were up marginally before the bell. The stock has gained about 23% this year, but has faced pressure as U.S. President Donald Trump has said he could exert pressure on more Chinese companies after he moved to ban TikTok. Sales from the company’s core commerce business jumped 34% to 133.32 billion yuan ($19.27 billion) in the three months ended June. Alibaba said its domestic core commerce business has fully recovered to pre-COVID-19 levels, while cloud computing revenue surged 59% to 12.35 billion yuan. Excluding...

11Aug By PriyankaNo Comments

FUNDING

Dubai based eyewa raises $2.5 million in funding from Wamda Capital & Others

DUBAI, UAE, Aug. 11, 2020-- UAE based eyewear platform eyewa raises a USD $2.5million in pre-series B bridge round from Wamda Capital, EQ2 Ventures and Nuwa Capital. This is eyewa's third funding round, before that the company raises mid-2019 Series A round of US$7.5million and US$1.1 million in a seed round in 2018. This bridge brings the total raised capital by eyewa to US$11.1million in the space of three years. The company specialises in online retail of sunglasses, eyeglasses, prescription contact lenses and color contact lenses, and offers a wide choice catered towards the latest fashion trends with a highly customised user experience throughout the discovery, ordering, packaging and delivery process. eyewa, which is now the largest online eyewear retailer in UAE and KSA...

After Covid19 Warehouse Demand May Rise in Cities

10Aug By AdityaNo Comments

ANALYSIS

After Covid19 Warehouse Demand May Rise in Cities

The demand for small warehouses within city limits is expected to rise over the next one year as e-commerce firms are targeting to ensure same-day deliveries of food and grocery items to customers, according to a report. The demand is likely to be for warehousing of 5000-10,000 sq ft size, property consultant Colliers International said. “E-commerce companies are focussing on same-day delivery with the pandemic-influenced lockdowns placing greater dependency on e-commerce for food and grocery items,” the report said. The consultant said that e-commerce companies are now trying to stock a larger proportion of inventory closer to their customers’ locations for efficiency and to improve the quality of products upon delivery. “Over the next 12 months, we believe in-city warehouses ...

23Jul By Press Trust of IndiaNo Comments

INDIA

Flipkart acquires Walmart India, to launch Flipkart Wholesale for B2B segment in August

Bengaluru, 23rd July 2020: Flipkart announced the acquisition of Walmart India for an undisclosed amount, and said it will launch ‘Flipkart Wholesale’ next month, as the homegrown e-commerce major looks to tap into the USD 650 billion B2B retail markets in India. Walmart India runs 28 Best Price wholesale stores in the country. The announcement comes a week after Flipkart had said it had raised USD 1.2 billion in funding from a Walmart-led investor group. In 2018, Walmart Inc had invested USD 16 billion for acquiring 77 percent stake in the group. Flipkart Wholesale is a new digital marketplace focusing on addressing the business-to-business (B2B) segment in India. “This marketplace is going to effectively link sellers and manufacturers on one end and kiranas and micro, small a...

5 Data Analytics Trends That Will Define the Decade

20Jul By AnkitaNo Comments

Tech

5 Data Analytics Trends That Will Define the Decade

With everything that’s been going on in 2020, it’s easy to forget that we’re on the cusp of a new decade. Technology continues to advance, and big data keeps getting bigger perhaps even more so now that many people are stuck at home, using the internet to stay connected more than ever before. Data is proliferating at staggering rate humankind will generate more than 175 zettabytes of data by 2025. Over the next ten years, players big and small are expected to seek ways to implement data science to increase profits and improve operations. Data analytics is a fast-growing and rapidly changing field, but these are some of the most important trends data scientists expect to see in the decade to come. 1) More Smart Stuff It seems like you literally can’t even buy a lightbulb these ...