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Archive for the ‘Ecommerce Articles’ Category

Warby Parker, valued at $3 billion, raises $245 million in funding

Warby Parker, the optical ecommerce giant, has today announced the close of a $245 million funding round from D1 Capital Partners, Durable Capital Partners, T. Rowe Price, and Baillie Gifford. A source familiar with the company’s finances confirmed to TechCrunch that this brings Warby Parker’s valuation to $3 billion. The fresh $245 million comes as ...

Facebook is bringing a Shop section to its app, while Instagram expands Live Shopping

Facebook is announcing a number of new e-commerce features both within the main Facebook app and on Instagram. The pandemic has forced many businesses to shift online, and Facebook made a big announcement in May around the ability of merchants to create Facebook Shops that are viewable on both Facebook and Instagram. More recently, Instagram ...

Despite COVID-19, 5 Chicago VCs say region is poised for success

Chicago has a long history of creating industry-leading companies and it doesn’t seem COVID-19 is slowing down the city. TechCrunch surveyed Chicago venture capitalists who remain optimistic despite the current crisis. COVID-19 could be good for Chicago, they told TechCrunch throughout their survey responses. It’s clear from the responses below investors in Chicago are interested ...

Our 11 favorite companies from Y Combinator’s S20 Demo Day: Part I

Startup incubator and investment group Y Combinator today held the first of two demo days for founders in its Summer 2020 batch. So far, this cohort contains the usual mix of bold, impressive, and, at times, slightly wacky ideas young companies so often show off. This was Y Combinator’s second online demo day, its first ...

Mastercard acquired and shut down IfOnly, an experiences marketplace hit by COVID-19

Travel has undoubtedly been one of the industries hardest hit in the coronavirus pandemic, constrained by restrictions on how people can move between and within countries, many venues closing, new rules to minimise gatherings, shrinking economies, and a general reluctance among consumers to engage in getting out and about. One startup in the space has ...

Meet the anti-antitrust startup club

More entrepreneurs and investors are willing to throw caution to the wind and go after core segments like search, email and video conferencing with gusto. ...

Pinduoduo’s latest aim: sell $145 billion farm produce in 2025

Still working to turn a profit and shake off its fake-goods reputation, China’s e-commerce upstart Pinduoduo set itself another ambitious goal for 2025: surpass 1 trillion yuan or $145 billion annual gross merchandise volume of agricultural products. The announcement arrived with the company’s Q2 results last Friday. For some context, online sales of agricultural goods ...

Target sets sales record in Q2 as same-day services grow 273%

Following Walmart’s pandemic-fueled earnings beat posted on Tuesday, Target today also handily beat Wall St. expectations to deliver a record-setting quarter across a number of key metrics. The retailer on Wednesday announced its strongest quarter to date for comparable sales, which grew 24.3% in Q2, driving Target’s profit up 80.3% year-over-year to $1.69 billion. Online ...

How to diagnose and treat machine learning models afflicted by COVID-19

Machine learning models for predicting behavior will need to change, and companies should take a proactive approach to leveraging new technology that can help with these fluctuations. ...

Pandemic helped drive Walmart e-commerce sales up 97% in second quarter

Walmart’s investments in e-commerce, including online grocery delivery and pickup, are continuing to pay off for the retailer. In the company’s Q2 earnings, released this morning, Walmart reported its U.S. e-commerce sales were up 97% — an increase attributed to more customers shopping online during the pandemic, stocking up on household supplies, and shopping for ...