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The war in Iran has hammered global oil markets, with gas prices in the U.S. spiking significantly. Amid the rise in transportation costs, Amazon has instituted a new 3.5% fuel surcharge for sellers that use its distribution network. The policy has the potential to inflict significant new costs on the untold merchants that rely on…
While quick commerce in India has become synonymous with 10-minute deliveries — and the hottest play for startups and investors — FirstClub is taking a slower, more curated route. Yet just three months after launching its app, the 8-month-old startup has tripled its valuation. At a post-money valuation of $120 million, the Bengaluru-based startup has…
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…
“Amazon posts weak cloud growth while rivals Google, Microsoft thrive” Amazon on Thursday forecast third-quarter sales above market estimates, but failed to live up to lofty expectations for its Amazon Web Services cloud computing unit after rivals handily beat expectations. Shares fell by more than 3% in after-hours trading after finishing regular trading up 1.7% to $234.11. Both Google-parent Alphabet and Microsoft posted…
Ant International plans to apply for stablecoin licenses in Hong Kong and Singapore, signaling growing fintech interest in regulated crypto payment systems, Bloomberg reported. Ant International reportedly plans to apply for stablecoin issuer licenses in Singapore and Hong Kong, signaling growing institutional cryptocurrency adoption among fintech firms. Ant International, a Singapore-based unit of the Jack…
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…
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 so, it turns out, do fashion startups. Lyst — the high-end fashion marketplace with 160 million users that was once valued at $700 million — has been acquired for just $154 million in an all-cash deal. The buyer is Zozo, a Japan-based fashion and e-commerce business. Zozo…
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…
Are you considering entrepreneurship and don’t know where to start? Are you looking for future trends in entrepreneurship, or are you confused between different options? In today’s startup landscape, to be unique and stay ahead in entrepreneurship means being in tune with the latest trends, especially functionalities and role-based prices for WooCommerce. Studies highlighted that…