Alibaba is about to acquire Singaporean start-up Lazada for about $1 billion that was established by the German technology Rocket Internet. Existing shareholders including Tesco, AB Kinnevik and Rocket Internet will sell a portion of their shares to Alibaba.
eCommerce
The Tychon Trio: Unleashing Innovation from the Caribbean
Amidst the sun-soaked landscapes of Trinidad and Tobago, where life pulsates to the rhythm of Carnival, you will find Tychon's three founders—Rawle Annandsingh, Kevin Blake-Thomas, and Darwin Feveck emerge. Defying the stereotype that dreams are confined by geography, these entrepreneurs are rewriting the startup narrative. While Trinidad and Tobago might not be the conventional birthplace of startups, in the hands of the dynamic trio, it has become the epicenter of groundbreaking innovation.
JPMorgan Chase Says Ethereum Will Outperform Bitcoin, Other Cryptocurrencies in 2024
JPMorgan Chase analysts foresee a potential shift in the cryptocurrency market dynamics next year, predicting that ethereum will outperform bitcoin and other cryptocurrencies.
Etsy to Axe 11% of Its Workforce as Weak Sales Persist Into Holiday Season
Etsy is set to reduce its workforce by 11% as part of a broader effort to restructure and streamline costs amid challenging market conditions.
Amazon Removes Venmo as Payment Method, Causing PayPal Shares to Drop
Amazon has informed its users that it will stop accepting Venmo as a payment method starting January 10.
Latest News
A US Court has rejected $12.25-million legal case between Lyft and its drivers. Lyft and attorney of drivers need to sit back again on further discussions after the latest judgment.
Verizon Communications Inc will bid for Yahoo's web business, while Alphabet Inc's Google unit is also exploring options on bidding for it. Additionally, Verizon may also make an offer for stake in Yahoo's Japan subsidiary.
Clothing and accessories sector is outpacing other sectors in e-commerce sales. Some factors, including better shipping and return policies and changes in mobile uses, are encouraging more people to make more small purchases online.
Goldman Sachs-backed consumer finance startup CompareAsiaGroup got its new CEO Sam Allen. In 2015, CompareAsiaGroup closed a Series A round of funding led by Goldman Sachs and is planning to go for a Series B round funding soon.
India's largest private industrial conglomerate Reliance Industries Ltd (RIL) has announced that its telecom venture Jio is the world's biggest startup with an estimated investment of INR 150,000 ($23 billion). A soft launch of Reliance Jio is expected in April 2016.
Allowing proxy access, Yahoo Inc has revised its bylaws. It'll also enable long-time shareholders to nominate candidates at board on ballots. The new bylaws will come into force after 2016 annual general meeting (AGM) scheduled in June or July.
State-run media broadcasts indicated that the Chinese government is turning against the country’s most successful e-commerce company Alibaba. However, the company didn’t seem to take much damage from the reports in terms of sales and shares.
Chinese consumers are spending more on spa visits, travel and entertainment as income levels are on upward movement. The consumer spending is expected rise 10 percent annually for the next decade.
It will be a different experience for consumers and golf fans alike as they take part in the Arnold Palmer Invitational PGA Tour event. MasterCard has teamed up with Wearality that develops VR glasses and other wearables and with Callaway Golf Company to enable people to engross themselves in the virtual and augmented reality.
