TikTok tests social commerce

TikTok is beginning to dabble in social commerce. The short-form video app said it has started to allow some users to add links to e-commerce sites (or any other destination) to their profile biography as well as offer creators the ability to easily send their viewers to shopping websites. The company said the roll-out of … Read more

Amazon to open its first non-Whole Foods grocery store in 2020

Amazon is opening its first non-Whole Foods grocery store in the L.A. neighborhood of Woodland Hills, the retailer today confirmed. The news of the new store was first reported by CNET, which spotted several job postings referencing the location including those for a zone leader, grocery associates, and a food service associate. Unlike Amazon’s growing … Read more

Alibaba’s Singles’ Day sales top $38 billion

After 24 hours of frenzied buying and selling, and weeks of aggressive advertising and promotions before it, the Alibaba Group said today its sales hit another record high on Singles’ Day, the biggest shopping day on the planet. The Chinese e-commerce giant said its platforms sold goods worth 268 billion yuan, or $38.4 billion today, … Read more

OLX Group invests up to $400M in used car marketplace Frontier Car Group at $700M valuation

Frontier Car Group, the Berlin-based startup building used-car marketplaces targeting high-growth, emerging markets, has picked up another significant round of funding from a strategic backer also focusing on the same geographical opportunity. Today, OLX, the online classifieds division Prosus (the digital division of Naspers that listed earlier this year in Europe) announced that it would … Read more