All posts by Catherine Shu

JD.com invests $397M into luxury marketplace Farfetch as part of a new strategic partnership

 JD.com, China’s second-largest e-commerce company after Alibaba, is pumping $397 million into Farfetch, a marketplace for luxury brands, as part of a new strategic partnership. JD.com founder and CEO Richard Liu will take a seat on Farfetch’s board as part of the deal, which makes JD.com one of its largest shareholders. Read More

Etsy will cut 15 percent of its workforce in a new round of layoffs

 Etsy has announced its second round of layoffs in as many months. In a statement today, it said it will cut 140 positions, or about 15 percent of its current workforce. When combined with an earlier downsizing announced in early May, this round brings total eliminated positions to about 230, or about 22 percent of what Etsy’s total workforce was at the end of 2016. Read More

Bill Gurley to leave Uber’s board of directors

 Benchmark’s Bill Gurley is set to leave Uber’s board of directors, one day after the company announced the resignation of CEO Travis Kalanick following months of controversy over its corporate culture. A Benchmark spokesman told Bloomberg, which first reported the news of Gurley’s departure, that his board seat will be filled by Matt Cohler, another Benchmark general partner. Read More

Mercari hires John Lagerling from Facebook’s management team to guide its U.S. strategy

 When Mercari became Japan’s first startup unicorn with a $75 million round last year, the funding was earmarked to fuel its goal of becoming the top secondhand marketplace app in the U.S. Now Mercari is doubling down on its efforts to succeed where no other Asian e-commerce company has. Today it launched a refreshed version of its American app and announced the hiring of John Lagerling… Read More

Wonderschool gets $2M to help solve America’s childcare quandary

 In the U.S., childcare presents a nerve-wracking quagmire for parents. It’s expensive—almost a fifth of American families spend more than a quarter of their income on childcare—but that doesn’t mean it’s a lucrative business. In fact, many caregivers make so little that they can’t afford childcare for their own kids and drop out of the workforce.… Read More

Headspace’s revamped app helps busy people turn meditation into a habit

 After years of struggling to make it part of my daily routine, I’ve started to suspect that if I were mindful enough to remember to meditate, then I probably wouldn’t need to meditate in the first place. To get the attention of people who, like me, spend more time thinking about meditating then they do actually meditating, Headspace has launched a new version of its app with… Read More

Korean e-book service Ridibooks scores $20M Series C

 E-book sales may be declining in the U.S. and U.K., but in South Korea, many people still enjoy swiping instead of leafing through their reading material. E-book sales there are growing steadily each year, driven in part by the popularity of web comics. Ridibooks, which claims to be Korea’s largest e-book provider, has raised a $20 million Series C to take advantage of the market. Read More

Intudo Ventures launches $10M fund for Indonesia’s fast-growing startup ecosystem

 Indonesia is one of Southeast Asia’s most promising startup market. Today, its ecosystem gained a new investor with the launch of Intudo Ventures’ debut fund, which has more than $10 million to invest into about 12 to 16 early-stage startups, as well as joint ventures with overseas companies that want to break into the Indonesian market. Read More