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 […]
Redfin CEO promises to ‘drink our own urine’ if mortgage rates don’t fall Read More »
About two years ago, a VC firm was evaluating an investment in a quick-commerce startup in India. The company’s instant delivery model was showing signs of success in the South Asian market, even as many startups in the space were struggling in developed markets. But the firm was wary: Could Amazon swoop in and dominate
Amazon is fumbling in India Read More »
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
Indian conglomerate Reliance slashed over 42,000 jobs last financial year Read More »
African e-commerce company Jumia is selling 20 million American depositary shares over the next couple of weeks, TechCrunch has learned. The at-the-market transaction is to take advantage of strong results despite a volatile market. Given Jumia’s share price of around $5.70 when the stock market opened on Tuesday, the e-commerce company could potentially raise approximately
PayPal said on Tuesday that it is making its quick guest-checkout solution, Fastlane, available to all U.S. merchants after testing it with select businesses for a few months. Businesses will initially have to use the company’s payment processing services, such as PayPal Braintree or PayPal Complete Payments, to use Fastlane. The company first started testing
PayPal makes quick guest-checkout solution Fastlane available to U.S. businesses Read More »
Manish Tiwary, the head of Amazon’s India operations, is leaving the firm as the U.S. e-commerce giant grapples with mounting pressure from competitors in one of its crucial international markets. Tiwary, who took over as country manager in late 2020, is departing as Amazon has noticeably shifted its focus on cloud business in India and
Amazon’s India chief resigns amid intensifying competition Read More »
More consolidation is taking place in the world of online food delivery. TechCrunch has learned and confirmed that GrubMarket — the startup backed by Tiger Global, among others, that has quietly built a B2B empire in produce and grocery logistics — has acquired Good Eggs, the once-feted fresh food delivery startup that more recently fell
GrubMarket has acquired Good Eggs Read More »
India’s fast-growing quick commerce market is getting a new deep-pocketed entrant: Walmart-owned Flipkart, India’s largest e-commerce firm. Flipkart has started to roll out Flipkart Minutes, its quick commerce service, in parts of Bengaluru. The new service offers customers the ability to have a wide range of items, from grocery to smartphones, delivered to them within
Flipkart blitzes into India’s 10-minute quick delivery battle Read More »
Startups are attracting serious funding to provide fun, alcohol-free drink options at the bar and in other social contexts. Earlier this year, canned water company Liquid Death announced that it has raised $67 million in new funding at a $1.4 billion valuation. And Athletic Brewing Company, which describes itself as America’s largest non-alcoholic brewery, said
Investors pour money into non-alcoholic beverages Read More »
When Egyptian B2B e-commerce platform Cartona last raised money in 2022, global and local investors were eager to invest in African startups solving the supply chain and operational challenges for retailers and suppliers in the fast-moving consumer goods (FMCG) industry. Two years on, investors aren’t as enthused anymore as the business models of such startups,
Egypt’s Cartona raises $8.1M even as investors pull back from B2B e-commerce in Africa Read More »
