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App Annie: TikTok's average watch time in the US and UK exceeds YouTube.

App Annie's latest report shows that British and American TikTok users have spent more time on TikTok than YouTube. According to the report, American viewers watch TikTok on average for more than 24 hours a month, which is higher than YouTube's 22 hours and 40 minutes.

The gap between the two is even more significant in the UK. TikTok's monthly average watch time is 26 hours, while YouTube has less than 16 hours.

Previously, data from the agency showed that TikTok would surpass Facebook in 2020 and become the world's most downloaded app for iOS and Android.

Shopee's parent company Sea plans to raise US$6.3 billion for the largest financing in Southeast Asia.

On September 9th, today, Shopee's parent company, Sea, the largest e-commerce and gaming company in Southeast Asia, filed a document that plans to raise US$6.3 billion through the issuance of shares and convertible bonds. This is one of the largest financing ever in the region.

Global payment service provider Epay cooperates with PayPal to launch a QR code payment service.

The global payment service provider Epay recently announced its cooperation with PayPal to extend the QR code payment service to in-store retailers.

The payment method is available in Germany, and Epay plans to expand to other markets in the future.

The service integrates contactless PayPal QR codes to help retailers provide customers with more diverse payment options at the point of sale and meet customers' expectations of online or face-to-face payment methods.

In addition, the service will enable local retailers to reach over 29.1 million active potential users of PayPal in Germany and over 400 million globally.

Wells Fargo: Amazon has become the largest retailer of clothing and footwear in the United States.

On September 9th, according to the latest report from Wells Fargo, Amazon's apparel sales accounted for about 35% of the total online apparel sales in the United States, making it the most extensive online apparel seller in the United States.

Its apparel and footwear sales exceed $41 billion, including sales through third-party sellers, 20%-25% higher than Walmart. Wells Fargo analysts quoted data provided by eMarketer showing that Amazon's total merchandise transactions have grown from 36 billion US dollars in 2019 to 41 billion US dollars in 2020.

Ecommerce Tech News

Southeast Asia

Thai logistics company Flash Express and Laos AIF Group have launched an application called Flash Laos.

According to Tech in Asia, Flash Laos focuses on land and air freight from Thailand to Laos. Users can schedule freight services, track packages, and confirm service charges on the app.

The two companies also plan to launch more cross-border services in November this year, and they will continue to recruit business partners from Thailand and Laos.

Fonos, a Vietnamese audio startup, completed a $1 million seed round of financing.

According to e27 reports, this funding round was led by AngelCentral with participation from Hustle Fund and iSeed Ventures and other individual investors.

Founded in 2020, Fonos focuses on multi-genre audiobooks. Fonos will use the new funds to launch more original and exclusive audiobooks and develop the Vietnamese market further.

India

Sequoia India Invests US$55 million Series C financing in Leap Finance.

According to Tech in Asia, this funding round was led by Owl Ventures, with participation from Harvard Management Company, Jungle Ventures, and Sequoia India. Leap Finance provides Indian young people with overseas study loans, foreign exchange remittances, and pre-test counseling and career consulting services.

Leap Finance will use the new funds to recruit more talents, launch new businesses, and expand to Southeast Asia, the Middle East, and North Africa.

The Indian data platform Zeotap completed an $11 million C+ round of financing.

According to Inc42, this round of funding was led by Liberty Global Ventures, with other individual investors participating. Zeotap was founded in 2014, headquartered in Bangalore, India, and Berlin, Germany.

It uses a data platform to help brands better understand customers and predict their behavior. In addition, the company has now raised 90 million US dollars.

Europe and North America

British beauty and skincare company Beauty Pie completed a US$100 million Series B financing.

According to TechCrunch, this round of funding was led by Index Ventures and Insight Partners, with participation from Balderton Capital, General Catalyst, and Latitude Ventures. Beauty Pie was established in 2016, mainly selling cosmetics and skincare products.

At present, the company has raised 170 million US dollars, and Beauty Pie will use the new funds to enrich product categories and expand sales channels.

British financial technology company Koyo completed a US$50 million Series A financing.

According to TechCrunch, this funding round was led by Force Over Mass Capital, with forwarding Partners, Frontline Ventures, Seedcamp, and other individual investors.

Koyo was established in 2018. It assesses lending risks through Open Banking data and can provide loans to users in need but with poor credit records.

Australia and New Zealand

Microsoft acquired Clipchamp, an Australian video editing software startup.

Microsoft said it had completed the acquisition of the video editing software startup Clipchamp but did not disclose the transaction details. Clipchamp was founded in 2013 and is headquartered in Brisbane, Australia.

Users can edit videos using software developed by the company. This acquisition will help Microsoft continue to enrich Office applications and acquire more users.

Remote Social, an Australian technology startup, completed a $1 million seed round of financing.

According to Startup Daily, this funding round was led by Black Nova Venture Capital with participation from NeuroPower, Antler Australia, and other individual investors.

Remote Social was established in August 2020 to change the way teams work remotely and interact with team building through VR and other technologies.

At present, the company has provided products and services to more than 250 organizations, and customers include Adobe and PwC. The new funds will be used to launch new products.

Latin America

Addi, a Latin American "buy first, pay later" platform, completed a US$75 million Series B financing.

According to TechCrunch, this round of funding was led by Greycroft with participation from Intersection Growth Partners, Andreessen Horowitz (a16z), and Endeavor Catalyst.

Addi has raised 220 million US dollars, and the new funds will be used to expand the Latin American market and expand the Mexican market in 2022.

Africa

Egyptian financial technology company MNT-Halan completed the financing of US$120 million.

According to TechCrunch, investors in this round of funding include Apis Growth Fund II, Middle East Venture Partners (MEVP), Endeavor Catalyst, Egypt Ventures, etc.

Founded in 2018, MNT-Halan is committed to serving financially "vulnerable groups" in Egypt and surrounding areas not covered by traditional banks, providing them with digital banking services and replacing cash with electronic solutions. At present, MNT-Halan has raised US$146.4 million.

The new funds will increase investment in technology, enrich product categories, and expand overseas markets.

The above eCommerce news is collected from the Internet and compiled by KeyDelivery. Its purpose is to collect and distribute industry & commerce businesses news. KeyDelivery does not have any original protection and ownership, and does not assume any legal responsibility for its authenticity and reliability, hereby declare!

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