Category Archives: eCommerce

Razer makes virtual currency push with $20M investment in Asian payment firm

 Razer has invested close to $20 million into Malaysia-based online payment firm MOL Global as part of a push to establish its virtual currency for gamers in Asia. The deal sees Razer subsidiary ZV-Midas buy equity from existing backers MOL Investment and Hotel Resort Enterprise in a deal that values the MOL Global business at around the $100 million mark. Gaming company Razer, which made… Read More

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

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

Ebay will now match Amazon’s, Walmart’s and others’ prices on over 50,000 items

 As Amazon and Walmart continue their battle to become the world’s largest retailer, another longtime rival in the e-commerce business, eBay, is now stepping up its game as well. The company this morning announced a new Price Match Guarantee for over 50,000 items across its site – promising that it will have the best deal online, or it will match the lowest price of a competitor.… Read More

Amazon Prime Wardrobe lets you try on and return clothes free

 Amazon’s latest perk for Prime members could make us more stylish by letting us buy everything that catches our eye and return what doesn’t fit. Today Amazon revealed Amazon Prime Wardrobe, which is currently in beta, but you can sign up to be notified when it launches First you pick at least three items from over a million Amazon Fashion options including clothes, shoes, and… Read More

Nestlé leads $77M round for healthy meal startup Freshly

Freshly Freshly has raised a big funding round from a big name — the U.S. division of food and beverage giant Nestlé. Co-founder and CEO Michael Wystrach has pitched the startup as a way to get healthy, on-demand meals. That doesn’t mean you order from Freshly every time you want to eat — instead, you get one delivery  of all your meals for the week. Then, when you’re hungry,… Read More

Klarna gets a full banking license, gears up to go beyond financing payments

 After Anders Holch Povlsen and his firm Brightfolk bought up a stake of at least $225 million in Klarna earlier this month, today the profitable Swedish payments startup, now valued at over $2.25 billion, is stepping up its game. Klarna has announced that it has picked up a full banking license from Finansinspektionen, the Swedish Financial Supervisory Authority. The license will give… Read More