Cox Enterprises, a media conglomerate based in Atlanta, has bought back its 25% stake in e-commerce company AutoTrader Group for $1.8 billion. Cox sold the said stake to private equity firm Providence Equity Parters for $640 million in 2010.
eCommerce
Utah's Overstock.com partners with Coinbase to become largest online store to accept bitcoins as payment
Utah-based online retailer Overstock.com struck a partnership with California-based bitcoin wallet Coinbase in a deal that made it the biggest online seller to embrace bitcoins as payment.
China's Qihoo 360 denies rumors of Alibaba stake purchase
Qihoo 360 Techology Co., China's second-largest search engine by users, on Thursday dismissed rumors that e-commerce major Alibaba Group Holding would pick up a stake in the company. Qihoo shares surged 9.3% on Wednesday on speculation the two companies were in talks over a deal.
Tel Aviv social review engine Yotpo closes $10.7M in Series A round
Tel Aviv, Israel-based social review engine Yotpo raised $10.7 million in a Series A funding round led by US-based venture capital firm Blumberg Capital to expand its office in San Francisco.
Alibaba's Taobao to ban sale of Bitcoin, related products following stricter rules from country's central bank
As China's central bank makes regulations regarding digital currencies stricter, Alibaba Group Holding will be banning the sale of Bitcoin and other related products, Bloomberg reported.
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Should everything goes as planned, online discount retailer Overstock.com will be the first prominent retailer to accept Bitcoins as payment, The New York Times Bits reported.
Chinese e-commerce giant Alibaba reportedly poured in tens of millions of dollars in mobile security tool LBE Security Master for real-time monitoring of malware, spyware and adware in smartphones.
Singapore-based startup Elephanti has closed $4.5 million in a seed funding round led by LMJ Holdings to develop its app that helps brick and mortar stores connect with shoppers online.
A holiday shopping season slump failed to materialize in the UK as shoppers flocked to stores on Boxing Day, giving British retailers a boost, The Telegraph reported.
Venture capital firms have supported niche e-commerce firms in India like CarDekho.com and Lenskart because they are profitable but require less capital, The Financial Express reported.
Gift cards and shipping refunds were offered by Amazon.com Inc to appease its customers after UPS said it would not be able to deliver some packages by Christmas, Bloomberg reported.
JD.com, China's second-largest e-commerce site, is set to exceed 100 billion yuan ($16.47 billion) in annual sales for the first time in a market that has drawn investment from global retailing names such as Amazon and Wal-Mart.
US food startups like Goldbely and Mouth have made gourmet and speciality food available to consumers across the country this Christmas, the Financial Times reported.
Germany-based incubator program Rocket Internet is planning to team up with telecom provider MTN Group to form Middle East Internet Holding (MEIH), which will invest $410 million to develop e-commerce firms in the region.
