At a time when the world feels increasingly divided between East and West, Uzbekistan has emerged as a rare middle ground, as the Central Asian nation’s homegrown unicorn, Uzum, has raised $65.5 million in a new funding round co-led by China’s Tencent and the New York- and London-based VR Capital, with participation from U.S.-based FinSight […]
Uzbekistan’s first unicorn, Uzum, leaps to a $1.5B valuation Read More »
India’s financial crime watchdog has filed a complaint against Walmart-backed fashion e-commerce giant Myntra, alleging the company violated foreign investment rules by channeling over $191 million through a related-party scheme that disguised retail operations as wholesale trade. This complaint marks the latest move in a broader crackdown by Indian authorities, which previously targeted Amazon and
YouTube made its pitch to advertisers on Wednesday, accompanied by a flashy performance from Lady Gaga and special appearances from popular YouTubers like Brittany Broski and MrBeast. During its upfront presentation, YouTube executives introduced new ad formats coming to the platform, including an enhanced shoppable connected TV (CTV) offering that includes a new interactive product
YouTube introduces an interactive product feed for shoppable TV ads Read More »
Amazon is bringing back its annual sales event, Prime Day, in July, the e-commerce giant said on Tuesday. This year, consumer demand for the popular sale event could be dampened by the possibility of tariffs increasing the cost of goods. To highlight the impact of President Trump’s tariffs, Amazon will reportedly begin to display the
Amazon Prime Day to return in July despite threat of tariffs Read More »
Albert Saniger, the founder and former CEO of Nate, an AI shopping app that promised a “universal” checkout experience, was charged with defrauding investors on Wednesday, according to a press release from the U.S. Department of Justice. Founded in 2018, Nate raised over $50 million from investors like Coatue and Forerunner Ventures, most recently raising
Fashion goes in and out of style, and it turns out, so do fashion startups. Lyst, a high-end fashion marketplace that was once valued at $700 million, has been acquired for just $154 million in cash by Zozo, a Japan-based fashion and e-commerce business. Zozo owns a number of fashion brands that include Wear by
Lyst, a fashion marketplace once valued at $700M, sells to Japan’s Zozo for $154M Read More »
Amazon continues to infuse AI into its shopping tools to encourage customers to make more purchases. The company announced on Wednesday a new feature called “Interests,” aimed at creating a more personalized and conversational search experience. With the new feature, customers can enter tailored prompts in the search bar, reflecting their interests, preferences, and even
Amazon launches personalized shopping prompts as part of its generative AI push Read More »
Maju Kuruvilla, who left the CEO role of controversial one-click checkout startup Bolt last year, is back. He’s launching his own startup, focused on a different problem for online shoppers: what he calls “check-in.” When you click on an ad for something like a t-shirt, the experience afterwards can feel a little clunky. The website
Bolt’s former CEO is launching a new e-commerce startup Read More »
On Wednesday, Google announced the launch of a new AI image feature for its Shopping tab, designed to help users find clothing items they envision by allowing them to search using their own words. The company is also expanding its AR beauty and virtual try-on tools. The new feature, “Vision Match,” is now available in
Remember that Christmas movie “Miracle on 34th Street,” where Macy’s in-store Santa, Kris Kringle, sends a frazzled shopper to a competitor’s store to find the Christmas present her son wanted because Macy’s was out of stock? Now, Amazon is doing the same thing online. The retailer announced on Tuesday the test of a new Amazon
