Commerce

Jumia plans to raise more than $100 million in secondary shares to drive stalled user growth  

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 […]

Jumia plans to raise more than $100 million in secondary shares to drive stalled user growth   Read More »

PayPal makes quick guest-checkout solution Fastlane available to U.S. businesses

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 »

Amazon’s India chief resigns amid intensifying competition

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 »

Flipkart blitzes into India’s 10-minute quick delivery battle

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 »

Investors pour money into non-alcoholic beverages

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 »

Egypt’s Cartona raises $8.1M even as investors pull back from B2B e-commerce in Africa

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 »

Qoo10’s CEO pledges personal assets worth $58M to compensate Korean merchants affected by its liquidity crisis

The founder and CEO of Singapore-based marketplace Qoo10 has pledged to use his personal assets to secure about $58 million (80 billion KRW) to compensate South Korean customers and vendors affected by his company’s liquidity crisis, which in turn resulted in failed payments to about 60,000 small merchants who sell through its Korean marketplace subsidiaries,

Qoo10’s CEO pledges personal assets worth $58M to compensate Korean merchants affected by its liquidity crisis Read More »

India’s Swiggy turns its Minis service for small businesses into a link-in-bio landing page

Indian food delivery and quick commerce startup Swiggy is pivoting one of its smaller businesses: Swiggy Minis, its Shopify alternative for small businesses, is being turned into a link-in-bio service that will now also cater to service providers like nutritionists and fitness trainers. In its new avatar, Swiggy Minis will act as a landing page

India’s Swiggy turns its Minis service for small businesses into a link-in-bio landing page Read More »