Commerce

African B2B e-commerce startups Wasoko and MaxAB complete merger: Interview with co-CEO Daniel Yu

Commerce /

Two of Africa’s largest B2B e-commerce platforms, Wasoko and MaxAB, have finally completed the continent’s much-talked-about merger, TechCrunch has learned. The all-stock transaction, both companies say, marks “an evolution from B2B e-commerce companies to a multi-vertical ecosystem for Africa’s $600 billion informal retail sector.” Talks of a merger between Kenya-based Wasoko and Egypt-based MaxAB began […]

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Tingit is building a marketplace for ‘zero-effort’ repairs, starting with fashion

Commerce /

Do you have a much-loved jacket with a torn sleeve or pair of grubby kicks gathering dust at the back of your closet? Tingit, a startup out of Lithuania, wants to help people restore their used clothing to their former glory with its newly launched repairs marketplace. The platform lets you use your phone to

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Creatopy, which automates ad creation using AI, raises a $10M Series A

Commerce /

When advertising agencies create ads for clients, they don’t just make one advert, but potentially hundreds of iterations for a ream of platforms, and that can be pretty manually intensive. Creatopy, which automates ad-creation using AI, has now raised a $10 million Series A co-led by European VCs 3VC (based out of Austria) and Point

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YouTube takes on TikTok Shop with expanded Shopify partnership

Commerce /

As TikTok Shop gains traction, YouTube is expanding its partnership with Shopify to onboard more brands for its YouTube Shopping affiliate program, the company announced on Tuesday. The expanded partnership means creators will get access to thousands of new brands to tag in their shopping videos, marking a significant increase from the few hundred brands

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African e-commerce company Jumia completes sale of secondary shares at $99.6M

Commerce /

Almost two weeks ago, TechCrunch reported that African e-commerce giant Jumia was planning to sell 20 million American depositary shares (ADSs) and raise over $100 million, given its share price of around $5.70 at the time. The e-tailer has now completed the at-the-market transaction offering of 20,227,736 ADSs. Jumia sold the shares at an average

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Zepto hits $5B valuation as quick commerce heats up in India

Commerce /

Indian grocery delivery startup Zepto has finalized a $340 million round that values it $5 billion, up from $3.6 billion in June and $1.4 billion last August, as the startup races to win market share in India’s contested quick-commerce market. sources familiar with the deal told TechCrunch. General Catalyst and Mars Growth Capital are co-leading

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Redfin CEO promises to ‘drink our own urine’ if mortgage rates don’t fall

Commerce /

He really said that: When asked about the company’s “Plan B” if mortgage rates don’t fall, Redfin CEO Glenn Kelman responded, “Plan B is to drink our own urine or our competitors’ blood, stay in the foxhole.” This wasn’t at some informal, off-the-record gathering. It was on Redfin’s second quarter earnings call, the kind of

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Indian conglomerate Reliance slashed over 42,000 jobs last financial year

Commerce /

Reliance, India’s largest conglomerate, reduced its workforce by 11%, or more than 42,000 people, in the financial year ended March 2024.  The conglomerate also slowed hiring, bringing on board about 171,000 people in the financial year, lower than the around 263,000 people it hired a year earlier, according to its annual report. The company said

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