Commerce

Meesho, an Indian social commerce platform with 150M transacting users, raises $275M

Commerce /

Meesho, a leading e-commerce startup in India with about 150 million transacting users, has secured $275 million in a new funding round, the company disclosed in a securities filing. The new funding is part of a larger financing round that is likely to include secondary transactions and balloon to over $500 million, people familiar with […]

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Jumia is back, growing total sales and orders in Q1 2024

Commerce /

Jumia’s revenue and gross merchandise volume showed growth despite a decrease in quarterly active customers, according to its Q1 2024 report. Revenue increased by 19% year-over-year (57% in constant currency) to $48.9 million, while GMV surged by 5% year-over-year (39% in constant currency) to $181 million. The quarterly active customers of the African e-tailer, on

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Amazon launches a Prime-free marketplace in South Africa, its first on the continent

Commerce /

Two years after announcing plans, Amazon’s highly awaited e-commerce entry into Africa has finally come to pass. On Tuesday, the tech giant launched its marketplace in South Africa. South Africa is the e-commerce giant’s first market on the continent, and it will be going head-to-head in the country with local players like Takealot (majority-owned by media

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Amazon launches a Prime-free marketplace in South Africa, its first in sub-Saharan Africa

Commerce /

Two years after announcing plans, Amazon’s highly awaited e-commerce entry into sub-Saharan Africa has finally come to pass. On Tuesday, the tech giant launched its marketplace in South Africa. South Africa is the e-commerce giant’s first marketplace in the sub-Saharan region (it already has an operation out of Egypt following the acquisition of Souq in

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Sam’s Club’s AI-powered exit tech reaches 20% of stores

Commerce /

Amazon may be scaling back its AI-powered Just Walk Out checkout-free tech in its stores in favor of smart shopping carts, but Walmart-owned Sam’s Club says it’s turning to AI to speed up its own exit technology. Instead of requiring store staff to check members’ purchases against their receipts when leaving the store, Sam’s Club

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WeTransfer cuts out the middle man and now lets users sell files directly on the platform

Commerce /

WeTransfer is adding new features that allow users to sell files directly on the platform, the company announced on Tuesday. According to one study, 87% of content creators have reported late or missed payments. With this new functionality, photographers, designers, illustrators and other creators will now be able to earn money immediately and not have to

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Getir pulls out of US, UK, Europe to focus on Turkey — 6,000+ jobs impacted

Commerce /

True to its business concept, Turkey’s “instant delivery” juggernaut Getir rose quickly. Now, with the quick commerce industry in free fall, it is nosediving just as fast. On Monday, the company — once valued close to $12 billion — announced it would shut down its operations the U.S., the U.K. and Europe to focus solely

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Shein to face EU’s strictest rules for online marketplaces

Commerce /

Ultra-fast fashion e-commerce giant Shein will be subject to an additional layer of governance rules targeted at very large online platforms (VLOPs) under the European Union’s Digital Services Act (DSA), the Commission announced Friday. Shein had reported passing an average of 45 million monthly users in the region — which is the threshold for the

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Amazon launches a new grocery delivery subscription in the US

Commerce /

Amazon said Tuesday that it has launched a new unlimited grocery delivery subscription for Prime members and customers with an EBT card (Electronic Benefit Transfer) in the U.S. if you’re living in one of the 3,500 eligible cities and towns. The company started testing grocery delivery in three locations last year: Denver; Sacramento, California; and

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