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Tag Archives: ecommerce

Amazon debuts a retail site for ‘Shark Tank’ products

Inventor Jamie Siminoff was rejected by the sharks on ABC’s “Shark Tank” in 2013 when trying to make a deal for his video doorbell startup. This year, Amazon bought his company , Ring, for a billion dollars. Now, Amazon is looking for another way to tap into breakout products from the popular TV show – by becoming an official retailer partner for “Shark Tank.” The newly announced deal allows Amazon to showcase past and future “Shark Tank” products on its website, and come with a $15,000 Amazon Web Services (AWS) credit for each eligible “Shark Tank” entrepreneur. The products will be available in a new Shark Tank Collection on Amazon Launchpad, its platform for hardware and physical goods startups, which first arrived in 2015 . The idea is to offer a dedicated place on Amazon where consumers can shop products from up-and-coming companies, like Bluesmart’s luggage, eero’s Home Wi-Fi system, Casper mattresses, and hundreds more. This new collection is not the first time Amazon has featured “Shark Tank” products on its site, however. Also in 2015, Amazon launched a new online store called Amazon Exclusives, which featured a variety of new brands, including products from “Shark Tank,” like Tower Paddle Boards, for example. At the time, the “Shark Tank” merchandise selection was limited, though. With today’s launch, that’s changing. Amazon says the new collection features over 70 products that successfully received funding from “Shark Tank” seasons 1 through 9, and new products from season 10 and beyond will be featured here in the future. The products available today include things like smart changing pad and scale  Hatch Baby , coffee enhancer  Third Wave Water , and storage bags from  Stasher , among others. You can even sort and filter products by those that were funded by two or more sharks, or those with over $250,000 in funding. “For the first time ever, ‘Shark Tank’ has a store on Amazon.com dedicated to helping our entrepreneurs scale their businesses and highlight top products from the show,” said “Shark Tank” investor, Barbara Corcoran, in a statement. “We are excited for the Amazon Launchpad Shark Tank Collection to bring products from our entrepreneurs to retail for customers and fans of the series.” For Amazon, the deal isn’t just a way to redirect “Shark Tank”-related shopping searches to its site, following an airing of the TV show. It also gives Amazon a first-hand way of seeing which products are becoming viable consumer hits – something that could open the door for an acquisition or further deal-making at some later point, perhaps

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Walmart continues M&A spree with acquisition of lingerie retailer Bare Necessities

Walmart continues to beef up its portfolio of digital brands, announcing on Friday that it had acquired Bare Necessities , an online retailer of lingerie, swimwear, hosiery and other intimates. Walmart declined to disclose the terms of the deal. The lingerie company, founded in 1998, will operate independently of Walmart. Over time, the e-commerce giant says it will make Bare Necessities’ products available on Walmart.com, as well as on Jet.com, which Walmart acquired for more than $3 billion in 2016 to bolster its e-commerce business. Walmart has long been one of the most active acquirers of startups and hasn’t slowed down in 2018. Just last week, the company announced it would purchase  women’s plus-sized clothing brand ELOQUII . Before that, it paid $225 million for a grocery delivery service called Cornershop and earlier this year, it completed its $16 billion acquisition of Flipkart —  its largest M&A play yet. Walmart to acquire women’s plus-size clothing brand ELOQUII ModCloth,   Bonobos  and Moosejaw are other Walmart-owned brands, all of which were acquired in 2017. In a statement, Walmart said Bare Necessities fit into its broader acquisition strategy of buying up “category leaders with specialized expertise and assortment that can help enhance the customer experience.” As part of the deal, Bare Necessities co-founder and chief executive officer Noah Wrubel will continue to run the company alongside chief operating officer Bill Richardson. Wrubel will also take charge of the intimates category for both Walmart.com and Jet.com. Bare Necessities’ 170 employees will continue to run the business out of Edison, N.J., where the company is headquartered. The global lingerie market is expected to bring in upwards of $60 billion in revenue by 2024, driven in large part by tech-enabled direct-to-consumer businesses’ e-commerce sales. Lively raises $6.5M to bring its comfortable and inclusive lingerie to brick-and-mortar stores

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New wave founders are headed to Startup Battlefield Latin America

TechCrunch is thrilled to announce that Rappi co-founder Sebastian Mejia, Enjoie founder Ana McLaren and Konfío founder and CEO David Arana will be joining us on stage at Startup Battlefield Latin America  for a panel about new wave startups coming out of the region. What does scaling a delivery startup out of Latin America look like? Where do you find the top engineering talent to build a marketplace app? What are the big opportunities for ecommerce and fintech companies? These are some of the ideas these three founders will speak to. Sebastián Mejia is a co-founder of Rappi, the on-demand delivery startup worth over $1 billion. Rappi initially began as a beverage delivery service, but has since expanded into groceries, meals, medicine and tech products to become a solution for last-mile delivery on demand. The company also has a popular cash withdrawl feature, and charges $1 per delivery. The Colombian startup has been backed by some of the world’s most prominent investors like Sequoia and Andreessen Horowitz. In fact, Rappi marked A16z’s first investment into Latin America in 2016. Now, thanks to a huge $200M round that closed in September 2018 , Rappi is now worth over $1 billion

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How this Kazakhstan internet giant built success on ideas from Russia and China

Eva Yoo Contributor Eva Yoo is a Shanghai-based tech writer for TechNode. The advantage of entering an emerging market is that the market still has a lot of empty space to fill, and as a startup you can be the first player. Kazakhstan might not be the first country that comes to mind when you think of overseas expansion. However, it is the world’s largest landlocked country, and shares borders with Russia and China, which are important consumer markets as well as technology hubs. In fact, companies in Russia and China provided good benchmarks for Chocofamily, now the biggest e-commerce holding in Kazakhstan. The 2011-founded startup’s current capitalization is $50 million, and they’ve hired 350 employees in their office in Almaty, the country’s largest city and previous capital. The company claims it has 2 million registered users on its platform, and expects $170 million gross billings in 2018 with 7,000 purchases per day. Chocofamily launched their payment app, Rakmet, in 2017, following in the steps of WeChat Pay. 2011: Copying from Russia   Looking at how Groupon was exploding in Russia, and how Delivery Club, a Russia-based food delivery service, was growing at a fast pace, the founder of Chocofamily, Ramil Mukhoryapov , decided the success could be replicated in Kazakhstan. So he quit his studies in Russia and went to Kazakhstan. “Russia is three years above Kazakhstan. Check out what is happening in Russia and do the same in Kazakhstan, it is going to work in three years. That’s what we did, how we started the Chocofamily itself,” Nikolay Shcherbak, CEO at Chocofood says. “We just copied. If this works in Russia, it will work in Kazakhstan as well, because the markets are really close to each other.” Ramil started with a daily deal service, Chocodaily, in Kazakhstan

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Indonesian fintech startup Moka raises $24M led by Sequoia India

Indonesia’s Moka , a startup that helps SMEs and retailers manage payment and other business operations, has pulled in a $24 million Series B round for growth. The investment is led by Sequoia India and Southeast Asia — which recently announced a new $695 million fund — with participation from new backers SoftBank Ventures Korea, EDBI — the corporate investment arm of Singapore’s Economic Development Board — and EV Growth, the later stage fund from Moka seed investor East Ventures. Existing investors Mandiri Capital, Convergence and Fenox also put into the round. The deal takes Moka to $27.9 million raised to date, according to data from Crunchbase . Moka was started four years ago primarily as a point-of-sale (POS) terminal with some basic business functionality. Today, it claims to work with 12,500 retailers in Indonesia and its services include sales reports, inventory management, table management, loyalty programs, and more. Its primary areas of focus are retailers in the F&B, apparel and services industries. It charges upwards of IDR 249,000 ($17) per month for its basic service and claims to be close to $1 billion in annual transaction volume from its retail partners. That’s the company’s core offering, a mobile app that turns any Android or iOS device into a point-of-sale terminal, but CEO and co-founder Haryanto Tanjo — who started the firm with CTO Grady Laksmono — said it harbors larger goals. “Our vision is to be a platform, we want to be an ecosystem,” he told TechCrunch in an interview. That’s where much of this new capital will be invested. Tanjo said the company is opening its platform up to third-party providers, who can use it to reach merchants with services such as accounting, payroll, HR and more. The focus is initially on local services that cater to SMEs in Indonesia, but as Moka targets larger enterprises as clients, he said that it will integrate larger, global solutions, too. Moka offers services beyond point-of-sale, but the core offering is turning any smart device into a cash machine Moka itself is expanding its capabilities on the payment side.

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Target’s same-day delivery reaches 1,100+ stores, Drive Up to reach 1,000 by year-end

Amazon may be betting on the convenience of cashier-less stores, but Target is instead focused on order-ahead e-commerce. The company’s Drive Up service, which allows shoppers to place orders online, then pick up at a nearby store without getting out of their car, is now on track to reach nearly 1,000 U.S. stores before the end of the year. Meanwhile, its same-day delivery business is now live at 1,100 stores across 160 markets, and will reach 65% of U.S. households by year-end. This week, Target said it’s expanding its Drive Up service to two more key markets, Colorado and California, where it will begin to roll out over the next month to 128 stores. In total, Target Drive Up service is available today at over 800 stores in 25 states. Like Walmart’s grocery pickup service, Drive Up is popular among parents with small children, where everyday shopping can be difficult. Parents, especially those with babies, have been using Drive Up for restocking their household essentials like diapers, Target says. But other shoppers have been using Drive Up as a means of getting larger, bulky online purchases – like TVs – loaded straight into their vehicles. The service has grown to be one of the highest-rated services by Target shoppers, since its launch in the retailer’s home market of Minneapolis last fall, the retailer told us. Drive Up, however, is only one of now several e-commerce initiatives Target has underway.

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Walmart and Kobo launch Walmart eBooks, an online e-book and audiobook store

In January, Walmart partnered with Japanese e-commerce giant Rakuten on online grocery in Japan, as well as the sale of audiobooks, e-books, and e-readers in the U.S. Today, Walmart is capitalizing on that relationship with the launch of a full e-book and audiobook catalog on Walmart.com, alongside its assortment of physical books. The new site, called Walmart eBooks , includes a library of over 6 million titles ranging from NYT best-sellers to indie titles and children’s books. And similar to Amazon’s Audible, Walmart will also now offer a monthly audiobook subscription service. However, Walmart is undercutting Amazon on pricing. While Audible subscriptions start at $14.95 per month for one audiobook, Walmart’s subscription is only $9.99 per month for the same. In addition, Walmart aims to capitalize on its brick-and-mortar stores to help boost Walmart eBooks. The company says it will sell nearly 40 titles in stores by way of digital books cards. These cards will be for popular books, like  The Power of Now  by Eckhart Tolle,  Astrophysics for People in a Hurry  by Neil deGrasse-Tyson and  Capital Gaines  by Chip Gaines. The cards will roll out to 3,500 Walmart stores starting this week. Walmart will also sell Rakuten-owned Kobo e-readers both online and in stores.

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