Thirteen defendants said they were guilty of the cyber attack against PayPal three years ago. They were members of a hacker group known as Anonymous.

Sears Holdings Corp, which had been selling and closing stores to turn around its business, will be spinning off its Lands' End clothing business. The spinoff will be through a pro rata distribution of the apparel retailer's shares to Sears shareholders.

Chief Executive Officer John Donahoe of eBay Inc said in an interview with Emily Chang on Bloomberg Television that the use of drones to deliver products to consumers is a fantasy.

Philadelphia-based company Monetate has raised USD8 million for the development of its platform that helps other companies drive their sales through analysis of data from various sources.

To jumpstart the use of its payment processing system, Dwolla has partnered with online service marketplace Fiverr and also offers special promotions to US-based customers.

HomeAway, a Texas-based online marketplace for vacation rentals bought Stayz Group, the publisher of Stayz.com.au from Fairfax Digital in an all-cash deal worth USD 198 million.

German startup accelerator Rocket Internet raised USD112 million in new funding for online fashion retailers Zalora and The Iconic, making it the biggest single investment made for an e-commerce company in the Asian Pacific region.

German startup navabi, which sells designer brand clothing online, drew EUR10 million in new Series C funding from institutional investors led by private equity firm Index Ventures.

San Francisco-based web app Swarm Mobile raised around USD3.5 million to develop technology that can track in-store shoppers through their smartphones to help physical stores compete with e-commerce retailers.

According to a Financial Times report, Amazon faces safety and regulatory hurdles before it can get its plan to use drones to deliver packages to consumers off the ground.