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PYMNTS.com 06/17/2019 00:30
B2B eCommerce platform Arzooo has raised $1 million (around Rs 6.95 crore) in a pre-Series A round of funding. The funding was led by the United Arab Emirates-based Jabbar Internet Group, which was once the parent company of Middle Eastern eCommerce platform Souq.com. Souq was acquired by Amazon in 2017. “Arzooo.com and its leadership team […]
PYMNTS.com 06/17/2019 00:11
WESCO International has announced that WESCO Distribution has partnered with Silicon Valley-based startup Plug and Play to launch their newest accelerator, B2B Sales and Distribution. Pittsburgh-based WESCO joins as a founding anchor member in the accelerator, which will focus on industry-specific startups and their technologies. The company is a provider of electrical, industrial, and communications maintenance, […]
PYMNTS.com 06/16/2019 23:20
New data showed that small business optimism rose 1.5 points to 105 in May, surpassing pre-shutdown levels. According to the National Federation of Independent Business (NFIB), six factors in the Small Business Optimism Index improved, three were unchanged, and one fell. Capital spending plans increased along with actual outlays, while expectations for sales, business conditions, […]
PYMNTS.com 06/16/2019 22:12
Despite the disappointing performance of both Uber and Lyft, the initial public offering (IPO) market remains strong. Three companies went public last week: cybersecurity firm CrowdStrike Holdings Inc., online pet-supply retailer Chewy Inc. and freelance-services marketplace Fiverr International. Investors sent all of their shares soaring 50 percent or more. In addition, Slack Technologies is expected […]
PYMNTS.com 06/16/2019 21:38
After rolling out only about two years ago, shopping social network Amazon Spark has reportedly recently left Amazon’s apps and the internet. The feature reportedly aimed to connect the gap between socializing and online shopping, Mashable reported. Through the service, users of Prime could put photos on a feed that was similar to Instagram that […]
PYMNTS.com 06/16/2019 21:36
After closing down more than a year ago, Shyp is preparing to roll out again. The company was once among the hottest upstarts in the on-demand space before shuttering in March of last year, according to reports. The company wrote in a Twitter post, “We are back! We’re hard at work to rebuild an unparalleled […]
PYMNTS.com 06/16/2019 21:02
The legal retail cannabis industry keeps on growing, and further evidence of that reportedly comes from LeafLink. The eCommerce wholesale marketplace, according to The Motley Fool, said that “$1 billion in annualized orders are now moving through its platform.” The report goes also noted that “since launching in Colorado in 2016, privately held LeafLink has […]
PYMNTS.com 06/16/2019 19:50
Stress tests haven’t been kind to so-called challenger banks in the U.K., according to a Financial Times report. It stated that the “Bank of England has found widespread weaknesses among the UK’s challenger banks in stress tests that showed new lenders cutting corners in an aggressive pursuit of growth.” Not only that, but “a senior […]
PYMNTS.com 06/16/2019 19:24
In a study of Global Positioning System (GPS) technology, researchers found that loss of the service would have an impact of $1 billion per day per an approximate estimate. The National Institutes of Standards and Technology sponsored the study, which was performed by RTI International of North Carolina, Ars Technica reported. The study examined multiple […]
PYMNTS.com 06/14/2019 12:58
That Alipay is moving into Europe — and looking to support the millions of Chinese and Southeast Asian tourists who travel there annually for business and pleasure — is far from a secret. It is, in fact, an ongoing goal of the last several years — and represents a smaller sliver of the mobile payments […]
PYMNTS.com 06/14/2019 11:21
We all like to be rewarded for work and vision, for toil and trouble. For putting up money where, literally, our mouths are. If only those pesky geopolitics wouldn’t interfere … We’re being tongue in cheek, but only just a little. True, the ongoing trade war has had its ripple effects across all manner of […]
PYMNTS.com 06/14/2019 11:00
Online brands are expanding their brick-and-mortar footprints: Online handbag marketplace Rebag, for instance, is opening a new store in Miami’s Design District with more stores said to come. “The Handbag Heaven” will have designer styles such as the Hermès Birkin Wall, which the company says is “Instagram-worthy” and a mainstay in all of its stores. Shoppers […]
PYMNTS.com 06/14/2019 11:00
Few companies meet customer demand for instant business-to-consumer (B2C) payments, while a large share of businesses still rely on paper checks for business-to-business (B2B) payments. In technology, Sweden-based Mapillary has rolled out a platform to crowdsource imagery of various settings, geographies and data. And merchants are eyeing augmented reality (AR) to lure local shoppers, while meal planning subscriptions with free trials are aiming to tackle food waste. All […]
PYMNTS.com 06/14/2019 10:50
With results that implied a pickup in consumer spending, retail sales in the U.S. rose in May and sales for the month before were revised upward. The Commerce Department report that was fairly positive came after mild readings for inflation and a step-down for hiring, Reuters reported. Retail sales increased by 0.5 percent last month […]
PYMNTS.com 06/14/2019 10:20
Through an expanded initial public offering (IPO), Chewy Inc. and its investors took in $1.02 billion. The eCommerce pet food and accessories supplier sold 46.5 million shares at a price of $22 a piece, Bloomberg reported. The company had increased its price range to $21 from $19 for 41.6 million shares following earlier stock marketing […]

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